New York State Teachers Retirement System Trims Stock Position in Par Pacific Holdings, Inc. $PARR

Key Points

• The New York State Teachers Retirement System reduced its stake in Par Pacific Holdings by 10%, selling 9,600 shares and now owning approximately 0.17% of the company.
• Insider selling occurred as two executives sold a total of 13,290 shares, leading to significant decreases in their ownership of the stock.
• Analysts have mixed ratings for Par Pacific, with five analysts giving a Buy rating and five a Hold rating, while the stock's average target price is $34.86.

New York State Teachers Retirement System trimmed its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 10.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,926 shares of the company's stock after selling 9,600 shares during the quarter. New York State Teachers Retirement System owned about 0.17% of Par Pacific worth $2,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of PARR. Farther Finance Advisors LLC raised its stake in shares of Par Pacific by 175.9% during the second quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company's stock worth $31,000 after purchasing an additional 753 shares during the last quarter. Parallel Advisors LLC increased its stake in Par Pacific by 232.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company's stock valued at $35,000 after buying an additional 927 shares during the period. Signaturefd LLC raised its position in Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after buying an additional 986 shares during 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 lifted its stake 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 acquiring an additional 428 shares during the period. Institutional investors and hedge funds own 92.15% of the company's stock.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, insider Jeffrey Ryan Hollis sold 5,228 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $34.55, for a total transaction of $180,627.40. Following the sale, the insider directly owned 24,679 shares of the company's stock, valued at $852,659.45. This trade represents a 17.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawn David Flores sold 8,062 shares of Par Pacific stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total transaction of $278,139.00. Following the sale, the insider owned 39,089 shares of the company's stock, valued at approximately $1,348,570.50. This trade represents a 17.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,954 shares of company stock valued at $863,048. 4.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PARR. Mizuho increased their price target on shares of Par Pacific from $34.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, September 15th. Weiss Ratings reissued a "hold (c-)" rating on shares of Par Pacific in a research note on Wednesday, October 8th. TD Cowen reduced their price target on Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Raymond James Financial reaffirmed an "outperform" rating and set a $45.00 price objective (up previously from $38.00) on shares of Par Pacific in a report on Friday. Finally, UBS Group raised their target price on Par Pacific from $23.00 to $37.00 and gave the company a "neutral" rating in a report on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.86.

Par Pacific Stock Down 2.0%

PARR stock opened at $35.11 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. The company's 50 day simple moving average is $34.16 and its 200-day simple moving average is $27.02. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $38.60. The firm has a market capitalization of $1.78 billion, a PE ratio of -125.40 and a beta of 1.74.

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

About Par Pacific

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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