Par Pacific Holdings, Inc. (NYSE:PARR) Shares Bought by Fmr LLC

Fmr LLC grew its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 126.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,634 shares of the company’s stock after purchasing an additional 4,826 shares during the period. Fmr LLC’s holdings in Par Pacific were worth $152,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PARR. Bank of New York Mellon Corp raised its holdings in Par Pacific by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 518,708 shares of the company’s stock valued at $13,097,000 after buying an additional 4,877 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Par Pacific by 113.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 20,896 shares of the company’s stock worth $528,000 after acquiring an additional 11,092 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Par Pacific by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,462 shares of the company’s stock worth $363,000 after buying an additional 1,139 shares during the period. Innealta Capital LLC acquired a new position in shares of Par Pacific during the second quarter valued at $104,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Par Pacific in the 2nd quarter worth approximately $275,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Price Performance

Shares of Par Pacific stock opened at $15.09 on Monday. The stock has a market capitalization of $844.32 million, a price-to-earnings ratio of 2.92 and a beta of 1.99. Par Pacific Holdings, Inc. has a 1-year low of $14.84 and a 1-year high of $40.69. The firm’s 50-day moving average price is $16.73 and its two-hundred day moving average price is $20.45. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last announced its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $2.14 billion for 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%. Par Pacific’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.15 earnings per share. On average, equities analysts predict that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PARR has been the subject of several research reports. The Goldman Sachs Group reduced their price objective on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $37.00 to $23.00 in a research note on Friday, September 20th. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.50.

Insider Activity

In other news, Director William Pate sold 67,700 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the transaction, the director now owns 524,610 shares of the company’s stock, valued at $8,509,174.20. The trade was a 11.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.