Vanguard Group Inc. Has $59.99 Million Stock Position in 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. decreased its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,206,751 shares of the company's stock after selling 64,568 shares during the period. Vanguard Group Inc. owned about 7.74% of Par Pacific worth $59,988,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PARR. SCP Investment LP purchased a new position in Par Pacific during the 1st quarter worth approximately $411,000. PNC Financial Services Group Inc. raised its holdings 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. Vestcor Inc raised its holdings in Par Pacific by 69.5% during the first quarter. Vestcor Inc now owns 36,100 shares of the company's stock worth $515,000 after purchasing an additional 14,800 shares during the last quarter. XTX Topco Ltd raised its holdings in Par Pacific by 104.8% during the first quarter. XTX Topco Ltd now owns 89,448 shares of the company's stock worth $1,276,000 after purchasing an additional 45,774 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Par Pacific during the first quarter worth $1,696,000. Institutional investors and hedge funds own 92.15% of the company's stock.

Par Pacific Stock Up 0.5%

Shares of NYSE:PARR traded up $0.16 during midday trading on Thursday, hitting $34.33. 1,002,104 shares of the stock were exchanged, compared to its average volume of 1,411,241. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $35.32. The business's fifty day simple moving average is $30.40 and its two-hundred day simple moving average is $21.37. The company has a market capitalization of $1.74 billion, a PE ratio of -122.59 and a beta of 1.83.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $0.74 by $0.80. The firm 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 business's quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, research analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PARR shares. TD Cowen lowered their price objective on Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Zacks Research upgraded shares of Par Pacific to a "strong-buy" rating in a research note on Monday, August 11th. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a research note on Wednesday, May 28th. Piper Sandler upped their price objective on Par Pacific from $26.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Mizuho set a $34.00 price objective on Par Pacific and gave the company a "neutral" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.96.

Insider Buying and Selling

In other news, SVP Terrill Pitkin sold 5,164 shares of Par Pacific 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 completion of the transaction, the senior vice president owned 41,223 shares in the company, valued at approximately $1,153,007.31. The trade was a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by corporate insiders.

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.