KLP Kapitalforvaltning AS Decreases Stake in Par Pacific Holdings, Inc. $PARR

KLP Kapitalforvaltning AS cut its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 49.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,300 shares of the company's stock after selling 13,100 shares during the period. KLP Kapitalforvaltning AS's holdings in Par Pacific were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Par Pacific by 175.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company's stock valued at $31,000 after acquiring an additional 753 shares during the period. Parallel Advisors LLC boosted its position in Par Pacific by 232.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company's stock valued at $35,000 after acquiring an additional 927 shares in the last quarter. Signaturefd LLC boosted its position in shares of Par Pacific by 70.2% in the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after purchasing an additional 986 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Par Pacific in the 1st quarter worth $35,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Par Pacific by 17.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,882 shares of the company's stock worth $76,000 after purchasing an additional 428 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PARR. Cowen restated a "buy" rating on shares of Par Pacific in a research note on Thursday, August 7th. UBS Group lifted their price target on Par Pacific from $23.00 to $37.00 and gave the company a "neutral" rating in a research note on Tuesday, September 23rd. Raymond James Financial reiterated an "outperform" rating and set a $45.00 price objective (up from $38.00) on shares of Par Pacific in a research note on Friday. Mizuho boosted their price objective on Par Pacific from $34.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, September 15th. Finally, Wall Street Zen upgraded Par Pacific from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.86.

Insider Transactions at Par Pacific

In related 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $34.55, for a total value of $180,627.40. Following the completion of the transaction, the insider directly owned 24,679 shares in the company, valued at $852,659.45. This trade represents a 17.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,954 shares of company stock valued at $863,048 over the last ninety days. Company insiders own 4.40% of the company's stock.

Par Pacific Stock Up 3.4%

NYSE:PARR opened at $35.21 on Monday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -125.75 and a beta of 1.74. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. Par Pacific Holdings, Inc. has a 52 week low of $11.86 and a 52 week high of $38.60. The stock's fifty day moving average is $33.85 and its two-hundred day moving average is $26.80.

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

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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