Par Pacific Holdings, Inc. $PARR Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing reduced its Par Pacific stake by 24.7% in the third quarter, selling 14,820 shares and retaining 45,250 shares valued at approximately $3.69 million. Institutional investors collectively own 92.15% of PARR.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $87.29. Ratings range from Strong Buy and Buy to Hold, including recent target adjustments from UBS, TD Cowen, Raymond James and Goldman Sachs.
• Par Pacific reported quarterly earnings of $10.10 per share, exceeding estimates of $8.22, while revenue rose 56.8% year over year to $2.97 billion. Shares opened at $77.20, compared with a 52-week range of $34.37 to $90.74.

Inspire Investing LLC reduced its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 24.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 45,250 shares of the company's stock after selling 14,820 shares during the period. Inspire Investing LLC owned approximately 0.09% of Par Pacific worth $3,693,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Par Pacific during the 2nd quarter valued at about $3,017,000. The Manufacturers Life Insurance Company lifted its position in Par Pacific by 170.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 62,505 shares of the company's stock worth $3,916,000 after buying an additional 39,404 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Par Pacific in the first quarter worth approximately $16,277,000. Engineers Gate Manager LP boosted its stake in Par Pacific by 93.1% in the second quarter. Engineers Gate Manager LP now owns 111,477 shares of the company's stock worth $6,252,000 after buying an additional 53,737 shares in the last quarter. Finally, SummerHaven Investment Management LLC purchased a new stake in Par Pacific in the third quarter worth approximately $2,625,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PARR. UBS Group reissued a "neutral" rating on shares of Par Pacific in a research note on Wednesday, August 26th. TD Cowen lowered their price objective on shares of Par Pacific from $100.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 7th. Raymond James Financial reaffirmed an "outperform" rating and issued a $117.00 price objective on shares of Par Pacific in a research note on Monday, October 19th. Benchmark reaffirmed a "buy" rating on shares of Par Pacific in a report on Wednesday, July 8th. Finally, The Goldman Sachs Group lowered shares of Par Pacific from a "buy" rating to a "neutral" rating and increased their target price for the company from $90.00 to $94.00 in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $87.29.

Par Pacific Stock Performance

Shares of PARR stock opened at $77.20 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.84. Par Pacific Holdings, Inc. has a fifty-two week low of $34.37 and a fifty-two week high of $90.74. The stock has a 50 day moving average price of $81.61 and a two-hundred day moving average price of $70.30. The company has a market capitalization of $3.87 billion, a P/E ratio of 4.50 and a beta of 0.75.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, beating analysts' consensus estimates of $8.22 by $1.88. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the firm posted $1.54 earnings per share. The business's quarterly revenue was up 56.8% compared to the same quarter last year. Analysts expect that Par Pacific Holdings, Inc. will post 26.88 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Timothy Clossey sold 10,970 shares of the company's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total transaction of $921,480.00. Following the completion of the sale, the director directly owned 51,526 shares in the company, valued at $4,328,184. This represents a 17.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William Monteleone sold 40,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total transaction of $3,252,000.00. Following the sale, the chief executive officer directly owned 457,167 shares of the company's stock, valued at $37,167,677.10. The trade was a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,248 shares of company stock valued at $4,394,057 over the last three months. 3.60% of the stock is owned by company insiders.

Par Pacific Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.

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