Par Pacific Holdings, Inc. $PARR Stake Lowered by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd cut its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 59.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,004 shares of the company’s stock after selling 1,442 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Par Pacific were worth $27,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. bought a new position in shares of Par Pacific during the first quarter valued at approximately $194,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Par Pacific by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,601 shares of the company’s stock valued at $265,000 after purchasing an additional 6,522 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Par Pacific by 352.7% during the first quarter. GAMMA Investing LLC now owns 7,556 shares of the company’s stock valued at $108,000 after purchasing an additional 5,887 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Par Pacific by 32.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock valued at $17,194,000 after purchasing an additional 296,536 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Par Pacific by 2.7% during the first quarter. Principal Financial Group Inc. now owns 278,536 shares of the company’s stock valued at $3,972,000 after purchasing an additional 7,294 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Insider Activity at Par Pacific

In other news, Director Timothy Clossey sold 2,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $33.37, for a total transaction of $66,740.00. Following the completion of the sale, the director owned 84,000 shares in the company, valued at approximately $2,803,080. This represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shawn David Flores sold 8,062 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $34.50, for a total value of $278,139.00. Following the sale, the insider owned 39,089 shares of the company’s stock, valued at $1,348,570.50. This trade represents a 17.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,954 shares of company stock worth $863,048. 4.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PARR has been the subject of several analyst reports. The Goldman Sachs Group boosted their price objective on Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Piper Sandler boosted their price objective on Par Pacific from $39.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 13th. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, TD Cowen reduced their price objective on Par Pacific from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.86.

Par Pacific Stock Performance

PARR opened at $39.97 on Monday. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -142.73 and a beta of 1.74. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $41.64. The business has a 50 day moving average price of $34.79 and a two-hundred day moving average price of $27.65.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.80. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.47 billion. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. Research analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

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.