Thrivent Financial for Lutherans Sells 23,536 Shares of Par Pacific Holdings, Inc. $PARR

Thrivent Financial for Lutherans cut its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 34.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,311 shares of the company’s stock after selling 23,536 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Par Pacific were worth $1,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Par Pacific in the third quarter worth about $1,149,000. First Citizens Bank & Trust Co. grew its holdings in shares of Par Pacific by 213.5% during 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 period. Creative Planning raised its position in shares of Par Pacific by 43.8% in the 2nd quarter. Creative Planning now owns 50,438 shares of the company’s stock worth $1,338,000 after acquiring an additional 15,362 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Par Pacific by 89.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock worth $38,168,000 after acquiring an additional 681,190 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Par Pacific in the 2nd quarter valued at approximately $1,419,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PARR. Tudor Pickering raised Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Mizuho boosted their target price on shares of Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Raymond James Financial reissued an “outperform” rating and set a $45.00 price target (up from $38.00) on shares of Par Pacific in a research report on Friday, October 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a research note on Monday, December 29th. Finally, Zacks Research cut shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.00.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 99,284 shares of Par Pacific stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $43.15, for a total value of $4,284,104.60. Following the completion of the transaction, the chief executive officer directly owned 423,022 shares of the company’s stock, valued at approximately $18,253,399.30. The trade was a 19.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $41.38 on Friday. The business has a fifty day moving average price of $38.17 and a 200-day moving average price of $37.05. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48. The company has a market capitalization of $2.08 billion, a PE ratio of 8.71 and a beta of 1.23. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $48.40.

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.