First Citizens Bank & Trust Co. Purchases New Holdings in Par Pacific Holdings, Inc. (NYSE:PARR)

First Citizens Bank & Trust Co. purchased a new stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,349 shares of the company's stock, valued at approximately $219,000.

A number of other institutional investors also recently modified their holdings of the company. Empowered Funds LLC increased its position in shares of Par Pacific by 5.1% in the fourth quarter. Empowered Funds LLC now owns 313,768 shares of the company's stock valued at $5,143,000 after acquiring an additional 15,240 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Par Pacific by 1.8% in the fourth quarter. New York State Teachers Retirement System now owns 98,391 shares of the company's stock valued at $1,613,000 after acquiring an additional 1,700 shares during the last quarter. Rhumbline Advisers increased its position in shares of Par Pacific by 1.5% in the fourth quarter. Rhumbline Advisers now owns 181,940 shares of the company's stock valued at $2,982,000 after acquiring an additional 2,709 shares during the last quarter. Allworth Financial LP increased its position in shares of Par Pacific by 4,804.2% in the fourth quarter. Allworth Financial LP now owns 8,141 shares of the company's stock valued at $139,000 after acquiring an additional 7,975 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Par Pacific by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 271,242 shares of the company's stock valued at $4,446,000 after acquiring an additional 5,710 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Stock Performance

Shares of NYSE:PARR traded up $0.57 during trading on Friday, reaching $24.54. 1,389,980 shares of the stock were exchanged, compared to its average volume of 1,164,261. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $27.45. The firm has a market cap of $1.27 billion, a PE ratio of 4.76 and a beta of 1.68. The stock has a 50-day moving average price of $17.84 and a 200-day moving average price of $16.49. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.54). Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The company's revenue was down 11.9% on a year-over-year basis. Research analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on PARR shares. TD Cowen lowered their price target on Par Pacific from $21.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Wall Street Zen downgraded Par Pacific from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Piper Sandler boosted their price target on Par Pacific from $21.00 to $26.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Mizuho boosted their price target on Par Pacific from $18.00 to $21.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group downgraded Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $21.25.

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.