New York State Teachers Retirement System Sells 37,753 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• New York State Teachers Retirement System reduced its stake in Par Pacific Holdings by 41.5% in the first quarter, selling 37,753 shares and leaving it with 53,311 shares worth about $3.34 million.
• Par Pacific reported Q1 EPS of $0.78, missing analyst expectations of $1.00, though revenue came in slightly above estimates at $1.82 billion and rose 4.5% year over year.
• Wall Street sentiment has improved, with several analysts raising targets and ratings; the stock now carries a Moderate Buy consensus and an average price target of $70.86.

New York State Teachers Retirement System cut its holdings in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 41.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,311 shares of the company's stock after selling 37,753 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of Par Pacific worth $3,339,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC grew its holdings in Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company's stock worth $62,000 after acquiring an additional 1,048 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Par Pacific by 34.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company's stock worth $65,000 after acquiring an additional 478 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Par Pacific by 385.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company's stock worth $69,000 after purchasing an additional 1,558 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Par Pacific by 70.4% during the fourth quarter. Federated Hermes Inc. now owns 2,096 shares of the company's stock worth $74,000 after purchasing an additional 866 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Par Pacific by 86.3% during the fourth quarter. Royal Bank of Canada now owns 3,697 shares of the company's stock valued at $130,000 after purchasing an additional 1,713 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Par Pacific Price Performance

Shares of PARR stock opened at $65.66 on Friday. The firm's 50 day moving average price is $58.17 and its two-hundred day moving average price is $51.37. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62. Par Pacific Holdings, Inc. has a 52-week low of $26.83 and a 52-week high of $70.39. The stock has a market cap of $3.29 billion, a PE ratio of 7.33 and a beta of 0.82.

Par Pacific (NYSE:PARR - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22). The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The business's revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.94) EPS. As a group, analysts forecast that Par Pacific Holdings, Inc. will post 16.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Par Pacific from a "neutral" rating to a "buy" rating and raised their price target for the company from $53.00 to $77.00 in a report on Friday, April 10th. Zacks Research upgraded Par Pacific from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Raymond James Financial lifted their target price on Par Pacific from $50.00 to $77.00 and gave the company an "outperform" rating in a research note on Wednesday, March 25th. UBS Group boosted their target price on Par Pacific from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on Par Pacific from $48.00 to $77.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $70.86.

Par Pacific Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.