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

Principal Financial Group Inc. cut its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 7.5% in the 3rd quarter, Holdings Channel reports. The firm owned 265,532 shares of the company’s stock after selling 21,384 shares during the period. Principal Financial Group Inc.’s holdings in Par Pacific were worth $4,673,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Headlands Technologies LLC increased its position in shares of Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after buying an additional 796 shares during the period. State of Alaska Department of Revenue boosted its position in Par Pacific by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock valued at $565,000 after acquiring an additional 810 shares in the last quarter. Martingale Asset Management L P grew its holdings in shares of Par Pacific by 1.9% during the 3rd quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock worth $849,000 after acquiring an additional 921 shares during the period. Simplicity Wealth LLC raised its position in shares of Par Pacific by 6.6% in the 3rd quarter. Simplicity Wealth LLC now owns 14,872 shares of the company’s stock worth $262,000 after acquiring an additional 923 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Par Pacific by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,462 shares of the company’s stock valued at $363,000 after purchasing an additional 1,139 shares during the period. 92.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PARR shares. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $22.00 in a report on Monday, December 16th. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, Tudor Pickering raised Par Pacific to a “hold” rating in a research report on Monday, September 9th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.50.

Par Pacific Price Performance

Shares of PARR opened at $16.69 on Friday. Par Pacific Holdings, Inc. has a twelve month low of $14.84 and a twelve month high of $40.69. The company has a market capitalization of $933.84 million, a P/E ratio of 3.23 and a beta of 1.99. The firm has a 50 day moving average of $16.51 and a 200 day moving average of $19.96. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last posted its earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.15 EPS. As a group, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This trade represents 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 the SEC website. 4.40% of the stock is owned by insiders.

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.