Principal Financial Group Inc. Sells 21,384 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Principal Financial Group Inc. decreased its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 7.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,532 shares of the company’s stock after selling 21,384 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Par Pacific worth $4,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PARR. Headlands Technologies LLC lifted its holdings in Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after purchasing an additional 796 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Par Pacific during the second quarter valued at about $43,000. Quarry LP lifted its holdings in shares of Par Pacific by 610.5% in 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. Quest Partners LLC boosted 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 acquiring an additional 3,472 shares during the period. Finally, FMR LLC grew its stake in Par Pacific by 126.7% during the third quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after acquiring an additional 4,826 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Performance

NYSE:PARR opened at $16.69 on Friday. The company has a market capitalization of $933.84 million, a price-to-earnings ratio of 3.23 and a beta of 1.99. The business has a 50 day moving average of $16.51 and a 200 day moving average of $19.96. 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 Holdings, Inc. has a 1-year low of $14.84 and a 1-year high of $40.69.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.15 EPS. On average, sell-side analysts predict that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the sale, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. 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.

Wall Street Analysts Forecast Growth

PARR has been the subject of several analyst reports. Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and cut their price target for the company from $37.00 to $23.00 in a report on Friday, September 20th. Tudor, Pickering, Holt & Co. cut Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Par Pacific 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.