Par Pacific Holdings, Inc. (NYSE:PARR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 265,532 shares of the company’s stock after selling 21,384 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Par Pacific worth $4,673,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Par Pacific by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock worth $53,956,000 after buying an additional 17,509 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Par Pacific by 48.4% in the 2nd quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock valued at $49,307,000 after purchasing an additional 636,908 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Par Pacific by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock valued at $36,254,000 after purchasing an additional 175,331 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Par Pacific by 2.6% in the 1st quarter. Bridgeway Capital Management LLC now owns 647,880 shares of the company’s stock valued at $24,010,000 after purchasing an additional 16,653 shares in the last quarter. Finally, Thomist Capital Management LP increased its holdings in shares of Par Pacific by 50.0% in the 2nd quarter. Thomist Capital Management LP now owns 559,277 shares of the company’s stock valued at $13,095,000 after purchasing an additional 186,411 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

Par Pacific stock opened at $17.37 on Friday. Par Pacific Holdings, Inc. has a 12-month low of $14.84 and a 12-month high of $40.69. The stock has a market capitalization of $971.85 million, a P/E ratio of 3.37 and a beta of 1.99. The firm’s 50-day moving average is $17.51 and its two-hundred day moving average is $22.17. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR) last released its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the company earned $3.15 earnings per share. The company’s quarterly revenue was down 16.9% on a year-over-year basis. Equities analysts predict that Par Pacific Holdings, Inc. will post 0.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a report on Monday, September 9th. UBS Group cut their price target on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Piper Sandler cut shares of Par Pacific from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $37.00 to $23.00 in a research note on Friday, September 20th. The Goldman Sachs Group lowered their price objective on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Mizuho lowered their price objective on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.00.

Par Pacific 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.