Vanguard Group Inc. Sells 64,568 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Vanguard Group Inc. has reduced its stake in Par Pacific Holdings by 1.5%, selling 64,568 shares, and now holds approximately 7.74% of the company worth $59.99 million.
• Par Pacific's shares recently traded down 1.0% at $32.19, with significant institutional interest as 92.15% of the stock is owned by institutional investors and hedge funds.
• The company reported a quarterly EPS of $1.54, exceeding analyst expectations, despite a 6.2% year-over-year revenue decline and a current average rating of "Moderate Buy" from analysts.

Vanguard Group Inc. lessened its holdings in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,206,751 shares of the company's stock after selling 64,568 shares during the period. Vanguard Group Inc. owned 7.74% of Par Pacific worth $59,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PARR. Signaturefd LLC boosted its stake in Par Pacific by 70.2% in the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock valued at $34,000 after purchasing an additional 986 shares during the period. CWM LLC lifted its stake in Par Pacific by 117.5% during the first quarter. CWM LLC now owns 7,158 shares of the company's stock worth $102,000 after purchasing an additional 3,867 shares during the last quarter. GAMMA Investing LLC lifted its stake in Par Pacific by 352.7% during the first quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock worth $108,000 after purchasing an additional 5,887 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake 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 worth $117,000 after purchasing an additional 2,884 shares during the last quarter. Finally, Gotham Asset Management LLC bought a new stake in shares of Par Pacific during the fourth quarter worth $183,000. Institutional investors own 92.15% of the company's stock.

Insider Activity

In other news, SVP Terrill Pitkin sold 5,164 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $27.97, for a total value of $144,437.08. Following the transaction, the senior vice president owned 41,223 shares in the company, valued at approximately $1,153,007.31. This trade represents a 11.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

PARR has been the topic of a number of research reports. Cowen reaffirmed a "buy" rating on shares of Par Pacific in a research note on Thursday, August 7th. Mizuho set a $34.00 price objective on shares of Par Pacific and gave the company a "neutral" rating in a research note on Friday, July 11th. The Goldman Sachs Group lowered shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a research note on Wednesday, May 28th. Wall Street Zen cut Par Pacific from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Finally, Piper Sandler increased their target price on Par Pacific from $26.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $28.96.

Par Pacific Price Performance

NYSE:PARR traded up $0.84 during trading hours on Friday, hitting $34.71. The stock had a trading volume of 1,698,994 shares, compared to its average volume of 1,679,535. The company has a 50 day simple moving average of $30.67 and a two-hundred day simple moving average of $21.61. 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 one year low of $11.86 and a one year high of $35.32. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -123.96 and a beta of 1.83.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, topping 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 net margin of 0.25% and a negative return on equity of 1.79%. The business'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 EPS. Research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

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.