8,463 Par Pacific Holdings, Inc. $PARR Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 46.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,744 shares of the company’s stock after selling 8,463 shares during the quarter. State of Alaska Department of Revenue’s holdings in Par Pacific were worth $794,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its position in Par Pacific by 0.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,771,793 shares of the company’s stock valued at $110,985,000 after purchasing an additional 6,162 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of Par Pacific in the first quarter valued at $28,839,000. Empowered Funds LLC lifted its holdings in shares of Par Pacific by 24.4% in the 1st quarter. Empowered Funds LLC now owns 313,605 shares of the company’s stock worth $19,644,000 after acquiring an additional 61,464 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Par Pacific in the 2nd quarter worth about $19,353,000. Finally, Pacer Advisors Inc. bought a new stake in shares of Par Pacific in the 1st quarter worth about $16,277,000. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Stock Down 5.6%

Par Pacific stock opened at $79.98 on Friday. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 4.67 and a beta of 0.75. Par Pacific Holdings, Inc. has a 52 week low of $34.37 and a 52 week high of $90.74. The business’s 50-day moving average price is $81.68 and its 200 day moving average price is $70.25. The company has a quick ratio of 0.76, a current ratio of 1.84 and a debt-to-equity ratio of 0.38.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the business posted $1.54 EPS. The business’s revenue was up 56.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 27.18 earnings per share for the current year.

Insider Activity

In related news, 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 completion of the transaction, the insider owned 27,878 shares in the company, valued at $1,875,910.62. This represents a 10.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy Clossey sold 10,970 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total value of $921,480.00. Following the transaction, the director directly owned 51,526 shares of the company’s stock, valued at $4,328,184. The trade was a 17.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 54,248 shares of company stock worth $4,394,057 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on PARR. UBS Group reaffirmed a “neutral” rating on shares of Par Pacific in a research report on Wednesday, August 26th. Weiss Ratings upgraded shares of Par Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $117.00 target price on shares of Par Pacific in a research note on Monday. Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. Finally, Benchmark restated a “buy” rating on shares of Par Pacific in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.29.

About Par Pacific

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.