Bank of America Corp DE Decreases Position in Par Pacific Holdings, Inc. $PARR

Bank of America Corp DE decreased its holdings in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 45.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,552 shares of the company's stock after selling 246,520 shares during the quarter. Bank of America Corp DE owned about 0.59% of Par Pacific worth $18,388,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LMG Wealth Partners LLC acquired a new stake in shares of Par Pacific during the fourth quarter worth about $760,000. BNP Paribas Financial Markets increased its holdings in Par Pacific by 22.5% in the 4th quarter. BNP Paribas Financial Markets now owns 506,872 shares of the company's stock worth $17,811,000 after buying an additional 93,249 shares during the period. Jackson Creek Investment Advisors LLC raised its position in Par Pacific by 325.0% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 51,431 shares of the company's stock worth $1,807,000 after buying an additional 39,329 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Par Pacific by 170.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 62,505 shares of the company's stock worth $3,916,000 after buying an additional 39,404 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in Par Pacific during the 4th quarter valued at approximately $6,985,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Stock Down 4.3%

PARR stock opened at $77.05 on Thursday. The stock has a market capitalization of $3.86 billion, a P/E ratio of 4.50 and a beta of 0.78. The firm has a 50-day simple moving average of $68.29 and a 200-day simple moving average of $59.73. The company has a quick ratio of 0.76, a current ratio of 1.84 and a debt-to-equity ratio of 0.38. Par Pacific Holdings, Inc. has a 52 week low of $27.84 and a 52 week high of $87.03.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, topping the consensus estimate of $8.22 by $1.88. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business earned $1.54 EPS. Par Pacific's quarterly revenue was up 56.8% on a year-over-year basis. Equities analysts forecast that Par Pacific Holdings, Inc. will post 21.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PARR. Wall Street Zen upgraded shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 17th. TD Cowen decreased their target price on shares of Par Pacific from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, August 7th. The Goldman Sachs Group upped their price target on shares of Par Pacific from $77.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. UBS Group increased their price target on Par Pacific from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Finally, Zacks Research lowered Par Pacific from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $81.57.

Insider Transactions at Par Pacific

In other Par Pacific news, insider Danielle Mattiussi sold 3,278 shares of Par Pacific stock in a transaction on Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the sale, the insider owned 27,878 shares of the company's stock, valued at $1,875,910.62. The trade was a 10.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.60% of the stock is currently owned by company insiders.

About Par Pacific

Par Pacific Holdings, Inc NYSE: PARR is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.

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