Truvestments Capital LLC Sells 13,512 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Truvestments Capital LLC significantly reduced its stake in Par Pacific Holdings by 78.4%, now holding a position worth $53,000 after selling 13,512 shares in the first quarter.
• Multiple large investors have increased their positions in Par Pacific, with CWM LLC and GAMMA Investing LLC boosting their stakes by 117.5% and 352.7%, respectively, during the same period.
• Analysts have mixed views on Par Pacific, with the stock receiving ratings ranging from Strong Buy to Neutral, and an average price target of approximately $28.96.

Truvestments Capital LLC lessened its holdings in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 78.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,719 shares of the company's stock after selling 13,512 shares during the period. Truvestments Capital LLC's holdings in Par Pacific were worth $53,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC boosted its position in shares of Par Pacific by 70.2% in the first quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after buying an additional 986 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Par Pacific during the first quarter valued at $35,000. CWM LLC boosted its position in Par Pacific by 117.5% during the first quarter. CWM LLC now owns 7,158 shares of the company's stock valued at $102,000 after purchasing an additional 3,867 shares during the last quarter. GAMMA Investing LLC boosted its position in Par Pacific by 352.7% during the first quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock valued at $108,000 after purchasing an additional 5,887 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Par Pacific by 54.0% during the first quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company's stock valued at $117,000 after purchasing an additional 2,884 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Insiders Place Their Bets

In related news, insider Shawn David Flores sold 8,062 shares of the business's 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 completion of the transaction, the insider owned 39,089 shares of the company's stock, valued at approximately $1,348,570.50. The trade was a 17.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ivan Daniel Guerra sold 5,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total value of $193,105.00. Following the transaction, the chief accounting officer directly owned 17,491 shares of the company's stock, valued at $614,109.01. This represents a 23.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,954 shares of company stock worth $796,308 over the last quarter. 4.40% of the stock is currently owned by company insiders.

Par Pacific Stock Down 2.5%

Shares of NYSE:PARR traded down $0.87 on Thursday, reaching $34.23. The company had a trading volume of 1,309,154 shares, compared to its average volume of 1,601,363. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average price of $31.32 and a 200 day moving average price of $22.13. The stock has a market capitalization of $1.74 billion, a P/E ratio of -122.24 and a beta of 1.82. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $35.94.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a research report on Wednesday, May 28th. Wall Street Zen cut Par Pacific from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Mizuho set a $34.00 price objective on Par Pacific and gave the company a "neutral" rating in a research report on Friday, July 11th. Cowen reissued a "buy" rating on shares of Par Pacific in a research report on Thursday, August 7th. Finally, Zacks Research raised Par Pacific to a "strong-buy" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $28.96.

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.