Par Pacific Holdings, Inc. $PARR Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP lowered its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 26.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,559 shares of the company’s stock after selling 9,979 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Par Pacific were worth $968,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its position in Par Pacific by 16.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock valued at $66,000 after purchasing an additional 259 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Par Pacific by 1.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock valued at $596,000 after purchasing an additional 266 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Par Pacific by 12.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock valued at $94,000 after purchasing an additional 293 shares in the last quarter. GAMMA Investing LLC raised its position in Par Pacific by 2.5% in the 4th quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock valued at $555,000 after purchasing an additional 382 shares in the last quarter. Finally, Amundi raised its position in Par Pacific by 3.6% in the 3rd quarter. Amundi now owns 11,013 shares of the company’s stock valued at $388,000 after purchasing an additional 386 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PARR. Wall Street Zen lowered Par Pacific from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. The Goldman Sachs Group raised Par Pacific from a “neutral” rating to a “buy” rating and raised their target price for the stock from $53.00 to $77.00 in a research report on Friday, April 10th. UBS Group raised their target price on Par Pacific from $40.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Raymond James Financial raised their target price on Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Finally, Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Par Pacific Price Performance

Shares of NYSE PARR opened at $58.33 on Friday. The stock’s 50-day simple moving average is $60.45 and its 200-day simple moving average is $47.40. The firm has a market capitalization of $2.92 billion, a PE ratio of 6.51 and a beta of 0.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62. Par Pacific Holdings, Inc. has a fifty-two week low of $19.28 and a fifty-two week high of $70.39.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.94) EPS. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 13.72 EPS for the current fiscal year.

Insider Transactions at Par Pacific

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