VIRGINIA RETIREMENT SYSTEMS ET Al Sells 18,200 Shares of Par Pacific Holdings, Inc. $PARR

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 33.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,600 shares of the company’s stock after selling 18,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Par Pacific were worth $2,906,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC purchased a new stake in Par Pacific in the first quarter worth $26,000. Carolina Wealth Advisors LLC purchased a new position in shares of Par Pacific during the 3rd quarter valued at $43,000. EverSource Wealth Advisors LLC lifted its position in shares of Par Pacific by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock valued at $45,000 after buying an additional 173 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Par Pacific during the 3rd quarter valued at $45,000. Finally, Fortitude Family Office LLC lifted its position in shares of Par Pacific by 498.1% during the 3rd quarter. Fortitude Family Office LLC now owns 616 shares of the company’s stock valued at $50,000 after buying an additional 513 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

PARR has been the topic of a number of research reports. Benchmark restated a “buy” rating on shares of Par Pacific in a research note on Wednesday, July 8th. Mizuho downgraded shares of Par Pacific from an “outperform” rating to a “neutral” rating and set a $91.00 price objective on the stock. in a report on Thursday, October 8th. Weiss Ratings upgraded shares of Par Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Piper Sandler started coverage on shares of Par Pacific in a research note on Tuesday, October 27th. They issued a “neutral” rating and a $94.00 target price for the company. Finally, UBS Group reiterated a “neutral” rating on shares of Par Pacific in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.43.

Par Pacific Stock Down 5.7%

Shares of NYSE PARR opened at $71.91 on Tuesday. Par Pacific Holdings, Inc. has a 52 week low of $34.37 and a 52 week high of $90.74. The business has a 50-day simple moving average of $81.21 and a two-hundred day simple moving average of $64.10. The company has a quick ratio of 0.76, a current ratio of 1.84 and a debt-to-equity ratio of 0.38. The company has a market cap of $3.60 billion, a P/E ratio of 4.20 and a beta of 0.75.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, topping analysts’ consensus estimates of $8.22 by $1.88. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%. The company’s quarterly revenue was up 56.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 EPS. Research analysts anticipate that Par Pacific Holdings, Inc. will post 26.42 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William Monteleone sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the sale, the chief executive officer directly owned 457,167 shares in the company, valued at approximately $37,167,677.10. The trade was a 8.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Danielle Mattiussi sold 3,278 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the sale, the insider owned 27,878 shares of the company’s stock, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 54,248 shares of company stock worth $4,394,057. 3.60% of the stock is currently owned by corporate insiders.

Par Pacific Company Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.