Par Pacific Holdings, Inc. $PARR Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 52.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 71,391 shares of the company’s stock after selling 78,442 shares during the quarter. Intech Investment Management LLC’s holdings in Par Pacific were worth $2,509,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. acquired a new position in shares of Par Pacific during the 3rd quarter valued at $44,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Par Pacific during the 3rd quarter valued at $48,000. Smartleaf Asset Management LLC increased its position in shares of Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after purchasing an additional 1,048 shares during the period. Quadrant Capital Group LLC acquired a new position in shares of Par Pacific during the 3rd quarter valued at $136,000. Finally, Mutual of America Capital Management LLC acquired a new position in shares of Par Pacific during the 3rd quarter valued at $201,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PARR shares. JPMorgan Chase & Co. lifted their price target on Par Pacific from $48.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Raymond James Financial lifted their price target on Par Pacific from $50.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. The Goldman Sachs Group raised Par Pacific from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $53.00 to $77.00 in a research note on Friday, April 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $57.45 on Wednesday. The stock has a market cap of $2.88 billion, a PE ratio of 6.41 and a beta of 0.83. The business has a fifty day simple moving average of $61.80 and a 200-day simple moving average of $48.78. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. Par Pacific Holdings, Inc. has a 12 month low of $20.74 and a 12 month high of $70.39.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned ($0.94) EPS. On average, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 15.41 EPS for the current fiscal year.

Insider Activity at Par Pacific

In other news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the completion of the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at $24,714,448.02. This trade represents a 19.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.60% of the stock is currently owned by company insiders.

About Par Pacific

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.