Franklin Resources Inc. Reduces Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Franklin Resources Inc. trimmed its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 42.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 57,960 shares of the company’s stock after selling 42,995 shares during the period. Franklin Resources Inc. owned 0.10% of Par Pacific worth $1,022,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Headlands Technologies LLC raised its position in Par Pacific by 215.1% in the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after acquiring an additional 796 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Par Pacific during the second quarter valued at $43,000. Quarry LP grew its holdings in shares of Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after buying an additional 2,027 shares in the last quarter. nVerses Capital LLC grew its stake in Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares during the period. Finally, Quest Partners LLC grew its position in shares of Par Pacific by 141.3% in the second quarter. Quest Partners LLC now owns 5,930 shares of the company’s stock valued at $150,000 after purchasing an additional 3,472 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Insider Buying and Selling at Par Pacific

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

Par Pacific Trading Down 0.9 %

NYSE:PARR opened at $16.19 on Friday. The stock has a fifty day simple moving average of $16.57 and a 200 day simple moving average of $20.14. The firm has a market capitalization of $905.86 million, a price-to-earnings ratio of 3.14 and a beta of 1.99. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. Par Pacific Holdings, Inc. has a 1-year low of $14.84 and a 1-year high of $40.69.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. Par Pacific’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.15 earnings per share. Sell-side analysts forecast that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Tudor, Pickering, Holt & Co. cut shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $22.00 in a research note on Monday, December 16th. The Goldman Sachs Group reduced their price target on Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $36.00 to $30.00 in a report on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.50.

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.