Inspire Investing LLC Sells 33,133 Shares of Par Pacific Holdings, Inc. $PARR

Inspire Investing LLC decreased its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 72.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,790 shares of the company’s stock after selling 33,133 shares during the period. Inspire Investing LLC’s holdings in Par Pacific were worth $453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of PARR. USA Financial Formulas bought a new position in Par Pacific in the 3rd quarter worth approximately $82,000. Voya Investment Management LLC boosted its holdings in shares of Par Pacific by 15.3% in the third quarter. Voya Investment Management LLC now owns 27,553 shares of the company’s stock worth $976,000 after acquiring an additional 3,651 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Par Pacific by 4.9% in the third quarter. GAMMA Investing LLC now owns 15,405 shares of the company’s stock worth $546,000 after acquiring an additional 713 shares during the period. Osaic Holdings Inc. grew its position in shares of Par Pacific by 19.7% in the second quarter. Osaic Holdings Inc. now owns 5,838 shares of the company’s stock valued at $154,000 after purchasing an additional 961 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Par Pacific during the 2nd quarter valued at $2,834,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 99,284 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $43.15, for a total value of $4,284,104.60. Following the sale, the chief executive officer owned 423,022 shares in the company, valued at approximately $18,253,399.30. This represents a 19.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Creamer sold 15,848 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $41.22, for a total value of $653,254.56. Following the completion of the sale, the executive vice president directly owned 54,654 shares in the company, valued at approximately $2,252,837.88. This represents a 22.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on PARR. Raymond James Financial restated an “outperform” rating and issued a $45.00 target price (up previously from $38.00) on shares of Par Pacific in a research note on Friday, October 17th. UBS Group boosted their price objective on shares of Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Piper Sandler upped their target price on shares of Par Pacific from $44.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.14.

Par Pacific Price Performance

PARR stock opened at $35.40 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48. Par Pacific Holdings, Inc. has a one year low of $11.86 and a one year high of $48.40. The stock has a market cap of $1.78 billion, a PE ratio of 7.45 and a beta of 1.25. The firm has a 50 day simple moving average of $41.19 and a two-hundred day simple moving average of $35.36.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, beating the consensus estimate of $1.98 by $3.97. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) EPS. On average, analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Par Pacific Profile

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.