American Century Companies Inc. Has $18.30 Million Stock Position in Par Pacific Holdings, Inc. $PARR

Key Points

• American Century Companies Inc. sold 127,412 shares of Par Pacific Holdings, Inc., reducing its stake by 9.0% to a total of 1,282,987 shares valued at $18,295,000.
• Analysts have recently set varying price targets for Par Pacific, ranging from $19.00 to $38.00, with an average target of $28.96 and a consensus rating of "Moderate Buy."
• Par Pacific reported quarterly earnings of $1.54 per share, significantly beating the estimate of $0.74, despite a 6.2% decline in revenue year-over-year.

American Century Companies Inc. lowered its stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 9.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,282,987 shares of the company's stock after selling 127,412 shares during the period. American Century Companies Inc. owned approximately 2.36% of Par Pacific worth $18,295,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after purchasing an additional 986 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Par Pacific in the 1st quarter valued at approximately $35,000. CWM LLC raised its holdings in Par Pacific by 117.5% in the 1st quarter. CWM LLC now owns 7,158 shares of the company's stock valued at $102,000 after acquiring an additional 3,867 shares in the last quarter. GAMMA Investing LLC raised its holdings in Par Pacific by 352.7% in the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock valued at $108,000 after acquiring an additional 5,887 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Par Pacific by 54.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company's stock valued at $117,000 after acquiring an additional 2,884 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Par Pacific Trading Down 0.8%

PARR traded down $0.28 during mid-day trading on Thursday, reaching $33.90. The stock had a trading volume of 1,585,789 shares, compared to its average volume of 1,415,421. The stock has a market capitalization of $1.72 billion, a P/E ratio of -121.05 and a beta of 1.83. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. The firm's fifty day simple moving average is $30.40 and its two-hundred day simple moving average is $21.37. Par Pacific Holdings, Inc. has a 52 week low of $11.86 and a 52 week high of $35.32.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.80. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.47 billion. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The business's quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. On average, equities analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Cowen reaffirmed a "buy" rating on shares of Par Pacific in a report on Thursday, August 7th. Zacks Research upgraded Par Pacific to a "strong-buy" rating in a research note on Monday, August 11th. Raymond James Financial set a $38.00 price objective on Par Pacific and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Wall Street Zen lowered Par Pacific from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Finally, Mizuho set a $34.00 price objective on Par Pacific and gave the company a "neutral" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Par Pacific presently has an average rating of "Moderate Buy" and an average price target of $28.96.

Insider Buying and Selling at Par Pacific

In other news, SVP Terrill Pitkin sold 5,164 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $27.97, for a total value of $144,437.08. Following the transaction, the senior vice president owned 41,223 shares of the company's stock, valued at $1,153,007.31. This represents a 11.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by company insiders.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.