WINTON GROUP Ltd Sells 97,668 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• WINTON GROUP Ltd cut its Par Pacific stake by 91.5% in the second quarter, selling 97,668 shares and retaining 9,096 shares valued at approximately $510,000. Institutional investors still own 92.15% of PARR.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $84.29. Recent upgrades include Evercore’s “Outperform” rating and Zacks Research’s “Strong Buy” rating.
• Par Pacific reported strong quarterly results, earning $10.10 per share versus an $8.22 estimate and generating $2.97 billion in revenue, up 56.8% year over year. The stock opened at $83.59, near its 52-week high of $87.03.

WINTON GROUP Ltd reduced its stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 91.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,096 shares of the company's stock after selling 97,668 shares during the period. WINTON GROUP Ltd's holdings in Par Pacific were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in Par Pacific by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company's stock valued at $45,000 after purchasing an additional 173 shares during the last quarter. Birchbrook Inc. boosted its position in Par Pacific by 12.8% in the second quarter. Birchbrook Inc. now owns 3,385 shares of the company's stock valued at $190,000 after buying an additional 385 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Par Pacific during the first quarter worth $26,000. Pictet Asset Management Holding SA grew its stake in shares of Par Pacific by 6.4% during the first quarter. Pictet Asset Management Holding SA now owns 7,598 shares of the company's stock worth $476,000 after buying an additional 455 shares during the last quarter. Finally, Corient Private Wealth LP increased its holdings in shares of Par Pacific by 12.8% during the second quarter. Corient Private Wealth LP now owns 5,826 shares of the company's stock worth $327,000 after buying an additional 663 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PARR has been the subject of a number of research reports. Evercore upgraded Par Pacific to an "outperform" rating in a research note on Wednesday, May 27th. Zacks Research upgraded Par Pacific from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 4th. UBS Group reaffirmed a "neutral" rating on shares of Par Pacific in a report on Wednesday, August 26th. The Goldman Sachs Group increased their target price on Par Pacific from $77.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Finally, Benchmark reissued a "buy" rating on shares of Par Pacific in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $84.29.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 40,000 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total value of $3,252,000.00. Following the sale, the chief executive officer owned 457,167 shares in the company, valued at approximately $37,167,677.10. The trade was a 8.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Danielle Mattiussi sold 3,278 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $67.29, for a total value of $220,576.62. Following the completion of the sale, the insider directly owned 27,878 shares of the company's stock, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 54,248 shares of company stock valued at $4,394,057. 3.60% of the stock is currently owned by company insiders.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $83.59 on Wednesday. The firm has a market cap of $4.19 billion, a PE ratio of 4.88 and a beta of 0.77. The firm's fifty day moving average is $77.76 and its 200-day moving average is $64.88. 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 52 week low of $33.21 and a 52 week high of $87.03.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, topping the consensus estimate of $8.22 by $1.88. The company had revenue of $2.97 billion for the quarter, compared to analysts' expectations of $2.40 billion. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. Par Pacific's revenue for the quarter was up 56.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 earnings per share. Sell-side analysts predict that Par Pacific Holdings, Inc. will post 21.33 earnings per share for the current year.

About Par Pacific

Par Pacific Holdings, Inc NYSE: PARR is an energy company engaged in refining, logistics and retail operations. The company processes crude oil into transportation fuels and other refined products, including gasoline, diesel, jet fuel and asphalt, which it sells through wholesale and retail channels.

Par Pacific operates refining and fuel-distribution assets serving markets in Hawaii and the western United States, including the Rocky Mountain region. Its logistics operations include fuel terminals, pipelines, storage facilities and related infrastructure used to transport and distribute crude oil and refined petroleum products.

The company also operates retail fuel stations and convenience stores under various brand names, primarily in Hawaii and other western markets.

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