Russell Investments Group Ltd. Sells 12,203 Shares of Par Pacific Holdings, Inc. $PARR

Russell Investments Group Ltd. lowered its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 15.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 65,158 shares of the company’s stock after selling 12,203 shares during the period. Russell Investments Group Ltd.’s holdings in Par Pacific were worth $1,729,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PARR. Charles Schwab Investment Management Inc. increased its stake in shares of Par Pacific by 32.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock worth $17,194,000 after buying an additional 296,536 shares during the period. First Citizens Bank & Trust Co. grew its holdings in Par Pacific by 213.5% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 48,121 shares of the company’s stock worth $1,277,000 after acquiring an additional 32,772 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Par Pacific in the first quarter valued at about $3,289,000. Creative Planning increased its position in shares of Par Pacific by 43.8% in the second quarter. Creative Planning now owns 50,438 shares of the company’s stock valued at $1,338,000 after acquiring an additional 15,362 shares during the period. Finally, Petrus Trust Company LTA bought a new position in shares of Par Pacific during the first quarter valued at about $792,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Trading Down 0.3%

PARR opened at $42.96 on Thursday. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70. Par Pacific Holdings, Inc. has a 52 week low of $11.86 and a 52 week high of $48.40. The stock has a market cap of $2.16 billion, a PE ratio of 9.05 and a beta of 1.25. The business has a 50 day moving average of $40.58 and a 200-day moving average of $33.85.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, topping the consensus estimate of $1.98 by $3.97. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Par Pacific had a return on equity of 23.69% and a net margin of 3.15%.The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share. Equities research analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Par Pacific

In related news, Director Timothy Clossey sold 2,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $33.37, for a total value of $66,740.00. Following the completion of the transaction, the director directly owned 84,000 shares in the company, valued at $2,803,080. This trade represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard Creamer sold 15,848 shares of Par Pacific stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $41.22, for a total transaction of $653,254.56. Following the transaction, the executive vice president directly owned 54,654 shares of the company’s stock, valued at approximately $2,252,837.88. This trade represents a 22.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 117,132 shares of company stock valued at $5,004,099 in the last three months. 4.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a research note on Monday. Tudor Pickering upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Tudor, Pickering, Holt & Co. upgraded Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.57.

Par Pacific 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.