PNC Financial Services Group Inc. Has $87,000 Stake in Par Pacific Holdings, Inc. (NYSE:PARR)

PNC Financial Services Group Inc. lowered its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 17.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,336 shares of the company’s stock after selling 1,113 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Par Pacific were worth $87,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of Par Pacific by 232.5% in the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after buying an additional 1,167 shares during the period. US Bancorp DE grew its position in shares of Par Pacific by 55.7% in the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after purchasing an additional 652 shares during the period. Nisa Investment Advisors LLC increased its stake in Par Pacific by 37.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after purchasing an additional 700 shares in the last quarter. Allworth Financial LP lifted its stake in Par Pacific by 4,804.2% in the fourth quarter. Allworth Financial LP now owns 8,141 shares of the company’s stock valued at $139,000 after buying an additional 7,975 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Par Pacific by 126.7% in the third quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after buying an additional 4,826 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Price Performance

NYSE:PARR opened at $13.89 on Wednesday. Par Pacific Holdings, Inc. has a 12-month low of $11.86 and a 12-month high of $40.20. The firm has a market capitalization of $760.45 million, a price-to-earnings ratio of 2.69 and a beta of 2.01. The stock’s 50 day moving average price is $15.60 and its two-hundred day moving average price is $16.63. 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 announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion. On average, analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group cut their target price on Par Pacific from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Raymond James began coverage on shares of Par Pacific in a research note on Friday, January 24th. They set an “outperform” rating and a $25.00 price target for the company. StockNews.com cut shares of Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Finally, Piper Sandler cut their price target on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.57.

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.