Empowered Funds LLC Grows Position in Par Pacific Holdings, Inc. $PARR

Key Points

• Empowered Funds LLC increased its stake in Par Pacific Holdings (NYSE:PARR) by 3.7%, owning approximately 325,394 shares valued at $4.64 million after acquiring an additional 11,626 shares in Q1.
• Several other institutional investors also adjusted their holdings, with Signaturefd LLC reporting a significant 70.2% increase in shares owned.
• Goldman Sachs downgraded Par Pacific from a "buy" to a "neutral" rating and set a price target of $19.00, indicating a shifting sentiment among analysts regarding the stock's potential.

Empowered Funds LLC grew its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 325,394 shares of the company's stock after purchasing an additional 11,626 shares during the period. Empowered Funds LLC owned approximately 0.63% of Par Pacific worth $4,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp lifted its position in Par Pacific by 8.6% in the 4th quarter. Northern Trust Corp now owns 626,984 shares of the company's stock valued at $10,276,000 after acquiring an additional 49,750 shares in the last quarter. Jane Street Group LLC bought a new position in Par Pacific in the 4th quarter valued at about $981,000. Ameriprise Financial Inc. lifted its position in Par Pacific by 35.0% in the 4th quarter. Ameriprise Financial Inc. now owns 248,972 shares of the company's stock valued at $4,081,000 after acquiring an additional 64,536 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Par Pacific by 52.1% in the 4th quarter. BNP Paribas Financial Markets now owns 67,537 shares of the company's stock valued at $1,107,000 after acquiring an additional 23,121 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Par Pacific by 51.3% in the 4th quarter. Bank of America Corp DE now owns 303,442 shares of the company's stock valued at $4,973,000 after acquiring an additional 102,858 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Insider Transactions at Par Pacific

In other Par Pacific news, insider Shawn David Flores sold 8,062 shares of Par Pacific stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $34.50, for a total value of $278,139.00. Following the completion of the transaction, the insider directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Ivan Daniel Guerra sold 5,500 shares of Par Pacific stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total transaction of $193,105.00. Following the completion of the transaction, the chief accounting officer directly owned 17,491 shares of the company's stock, valued at $614,109.01. The trade was a 23.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,954 shares of company stock valued at $863,048. Company insiders own 4.40% of the company's stock.

Par Pacific Stock Down 1.0%

Shares of NYSE:PARR traded down $0.35 during trading on Wednesday, reaching $35.08. 264,898 shares of the stock traded hands, compared to its average volume of 1,418,291. The stock has a 50-day moving average of $32.03 and a two-hundred day moving average of $23.23. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $36.39. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. The stock has a market cap of $1.78 billion, a P/E ratio of -125.26 and a beta of 1.82.

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

Wall Street Analysts Forecast Growth

PARR has been the topic of several recent research reports. The Goldman Sachs Group cut shares of 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. TD Cowen decreased their price objective on shares of Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Cowen reiterated a "buy" rating on shares of Par Pacific in a research note on Thursday, August 7th. Mizuho increased their price objective on shares of Par Pacific from $34.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $30.68.

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.