Inspire Investing LLC Buys 22,132 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Inspire Investing LLC increased its stake in Par Pacific Holdings, Inc. by 93.0% during the second quarter, acquiring an additional 22,132 shares and bringing its total holding to 45,923 shares.
• Par Pacific's stock has recently seen a decline of 8.1%, opening at $33.26, with a market capitalization of $1.69 billion and notable insider selling including 8,062 shares by an insider.
• Analysts have mixed ratings on Par Pacific, with some upgrades and downgrades leading to a consensus rating of "Moderate Buy" and an average target price of $33.86.

Inspire Investing LLC lifted its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 93.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,923 shares of the company's stock after acquiring an additional 22,132 shares during the quarter. Inspire Investing LLC owned approximately 0.09% of Par Pacific worth $1,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in PARR. GAMMA Investing LLC grew its stake in Par Pacific by 6,355.9% during the first quarter. GAMMA Investing LLC now owns 107,749 shares of the company's stock worth $1,537,000 after purchasing an additional 106,080 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Par Pacific during the first quarter valued at approximately $194,000. Allspring Global Investments Holdings LLC boosted its position in Par Pacific by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,601 shares of the company's stock worth $265,000 after purchasing an additional 6,522 shares during the last quarter. Principal Financial Group Inc. boosted its position in Par Pacific by 2.7% in the first quarter. Principal Financial Group Inc. now owns 278,536 shares of the company's stock worth $3,972,000 after purchasing an additional 7,294 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in Par Pacific by 2.3% in the first quarter. Linden Thomas Advisory Services LLC now owns 43,531 shares of the company's stock worth $621,000 after purchasing an additional 960 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Insider Transactions at Par Pacific

In related news, insider Shawn David Flores sold 8,062 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total transaction of $278,139.00. Following the completion of the transaction, the insider owned 39,089 shares of the company's stock, valued at $1,348,570.50. This trade represents a 17.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Terrill Pitkin sold 5,164 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $27.97, for a total value of $144,437.08. Following the transaction, the senior vice president directly owned 41,223 shares of the company's stock, valued at approximately $1,153,007.31. This trade represents a 11.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,954 shares of company stock worth $863,048. 4.40% of the stock is owned by insiders.

Par Pacific Trading Down 8.1%

PARR opened at $33.26 on Friday. The business has a 50 day simple moving average of $33.17 and a two-hundred day simple moving average of $25.99. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -118.78 and a beta of 1.74. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. Par Pacific Holdings, Inc. has a one year low of $11.86 and a one year high of $38.60.

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

Wall Street Analyst Weigh In

PARR has been the topic of several research reports. Weiss Ratings restated a "hold (c-)" rating on shares of Par Pacific in a research note on Wednesday. UBS Group boosted their price objective on Par Pacific from $23.00 to $37.00 and gave the company a "neutral" rating in a research note on Tuesday, September 23rd. Zacks Research lowered Par Pacific from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 22nd. Raymond James Financial upped their target price on Par Pacific from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 9th. Finally, TD Cowen cut their price objective on Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Par Pacific has a consensus rating of "Moderate Buy" and an average target price of $33.86.

Par Pacific 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.

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