Par Pacific Holdings, Inc. (NYSE:PARR) Position Lowered by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,685 shares of the company’s stock after selling 744 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Par Pacific worth $505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in shares of Par Pacific in the 3rd quarter valued at approximately $61,870,000. Millennium Management LLC raised its holdings in shares of Par Pacific by 48.4% during the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after purchasing an additional 636,908 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Par Pacific by 160.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after buying an additional 315,967 shares during the last quarter. Thomist Capital Management LP boosted 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 buying an additional 186,411 shares during the period. Finally, American Century Companies Inc. boosted 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 buying an additional 175,331 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. UBS Group decreased their target price on Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Tudor Pickering raised shares of Par Pacific to a “hold” rating in a report on Monday, September 9th. Finally, Piper Sandler cut shares of Par Pacific from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Par Pacific presently has a consensus rating of “Hold” and an average price target of $28.00.

Par Pacific Trading Up 2.0 %

Shares of NYSE:PARR opened at $16.46 on Friday. Par Pacific Holdings, Inc. has a twelve month low of $14.84 and a twelve month high of $40.69. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The firm has a market cap of $920.97 million, a P/E ratio of 3.19 and a beta of 1.99. The company has a 50 day moving average of $16.99 and a 200-day moving average of $20.83.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period last year, the firm earned $3.15 EPS. As a group, analysts anticipate that Par Pacific Holdings, Inc. will post 0.83 earnings per share for the current fiscal year.

Insider Transactions at Par Pacific

In other news, Director William Pate sold 67,700 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the sale, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.40% of the company’s stock.

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.