Citigroup Inc. Increases Stake in Par Pacific Holdings, Inc. (NYSE:PARR)

Citigroup Inc. boosted its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR – Get Rating) by 29.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 163,988 shares of the company’s stock after purchasing an additional 37,390 shares during the quarter. Citigroup Inc.’s holdings in Par Pacific were worth $3,813,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PARR. JPMorgan Chase & Co. grew its position in Par Pacific by 23.7% during the 1st quarter. JPMorgan Chase & Co. now owns 440,701 shares of the company’s stock valued at $5,738,000 after purchasing an additional 84,454 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Par Pacific by 12.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,513 shares of the company’s stock valued at $98,000 after acquiring an additional 854 shares during the period. MetLife Investment Management LLC lifted its stake in Par Pacific by 53.1% during the 1st quarter. MetLife Investment Management LLC now owns 24,931 shares of the company’s stock valued at $325,000 after acquiring an additional 8,649 shares during the period. Rhumbline Advisers lifted its stake in Par Pacific by 9.7% during the 1st quarter. Rhumbline Advisers now owns 126,220 shares of the company’s stock valued at $1,643,000 after acquiring an additional 11,201 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Par Pacific by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,437 shares of the company’s stock valued at $513,000 after acquiring an additional 4,863 shares during the period. 92.76% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $21.41 on Monday. Par Pacific Holdings, Inc. has a twelve month low of $13.72 and a twelve month high of $30.49. The stock has a market capitalization of $1.31 billion, a PE ratio of 1.74 and a beta of 2.05. The firm’s 50 day moving average price is $25.07 and its 200-day moving average price is $24.73. The company has a quick ratio of 0.65, a current ratio of 1.24 and a debt-to-equity ratio of 0.61.

Par Pacific (NYSE:PARR – Get Rating) last released its earnings results on Wednesday, February 22nd. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.28. Par Pacific had a net margin of 9.65% and a return on equity of 108.48%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Equities research analysts expect that Par Pacific Holdings, Inc. will post 4.74 EPS for the current year.

Insiders Place Their Bets

In other Par Pacific news, Director L Melvin Cooper sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $29.85, for a total transaction of $59,700.00. Following the sale, the director now owns 38,990 shares in the company, valued at approximately $1,163,851.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Par Pacific news, President William Monteleone sold 13,589 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $28.41, for a total transaction of $386,063.49. Following the completion of the sale, the president now directly owns 304,862 shares of the company’s stock, valued at approximately $8,661,129.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director L Melvin Cooper sold 2,000 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $29.85, for a total transaction of $59,700.00. Following the sale, the director now directly owns 38,990 shares of the company’s stock, valued at $1,163,851.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,089 shares of company stock worth $657,863. Company insiders own 4.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler lowered their target price on shares of Par Pacific from $39.00 to $34.00 in a research note on Thursday. UBS Group assumed coverage on shares of Par Pacific in a research note on Wednesday, March 8th. They set a “neutral” rating and a $34.00 target price on the stock. StockNews.com upgraded shares of Par Pacific from a “hold” rating to a “buy” rating in a research note on Friday, May 12th. TD Cowen lowered their price objective on shares of Par Pacific from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, May 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Par Pacific from $29.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 28th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.25.

Par Pacific Company Profile

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Par Pacific Holdings, Inc engages in the operation of energy and infrastructure businesses. It operates through the following segments: Refining, Retail, Logistics, and Other. The Refining segment produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, low sulfur fuel oil, and other associated refined products.