Par Pacific Holdings, Inc. $PARR Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its holdings in Par Pacific Holdings, Inc. by 5.3%, now owning approximately 172,359 shares valued at about $2.46 million.
• Institutional investors collectively hold 92.15% of Par Pacific's stock, with significant increases from firms such as Ameriprise Financial and BNP Paribas in the fourth quarter.
• Par Pacific's stock has a market capitalization of $1.80 billion, and despite recent earnings beating consensus estimates, the company's revenue has declined by 6.2% year-over-year.

Rhumbline Advisers trimmed its stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 5.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,359 shares of the company's stock after selling 9,581 shares during the period. Rhumbline Advisers owned 0.33% of Par Pacific worth $2,458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. SummerHaven Investment Management LLC increased its stake in shares of Par Pacific by 2.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 33,018 shares of the company's stock worth $471,000 after purchasing an additional 860 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Par Pacific by 2.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 43,531 shares of the company's stock worth $621,000 after purchasing an additional 960 shares in the last quarter. Signaturefd LLC increased its stake 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Par Pacific by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company's stock worth $461,000 after buying an additional 1,427 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in Par Pacific by 10.9% in the 1st quarter. Cerity Partners LLC now owns 15,571 shares of the company's stock worth $222,000 after buying an additional 1,535 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PARR shares. Wall Street Zen upgraded Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. TD Cowen dropped their price objective on shares of Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, August 7th. The Goldman Sachs Group downgraded shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a report on Wednesday, May 28th. Raymond James Financial increased their price objective on shares of Par Pacific from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. Finally, 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 report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.68.

Insider Buying and Selling at Par Pacific

In other news, Director Timothy Clossey sold 2,000 shares of Par Pacific stock in a transaction on Monday, September 15th. The shares were sold at an average price of $33.37, for a total transaction of $66,740.00. Following the completion of the sale, the director directly owned 84,000 shares in the company, valued at approximately $2,803,080. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Terrill Pitkin sold 5,164 shares of Par Pacific stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $27.97, for a total transaction of $144,437.08. Following the sale, the senior vice president owned 41,223 shares of the company's stock, valued at $1,153,007.31. The trade was a 11.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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 1.9%

NYSE PARR traded down $0.69 on Friday, hitting $34.94. The stock had a trading volume of 2,816,251 shares, compared to its average volume of 1,593,705. The business's fifty day moving average price is $32.11 and its 200 day moving average price is $23.62. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $36.39. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -124.78 and a beta of 1.82.

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