Par Pacific Holdings, Inc. (NYSE:PARR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,110 shares of the company's stock after selling 46,323 shares during the quarter. Bank of New York Mellon Corp owned 0.76% of Par Pacific worth $7,000,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. New York State Common Retirement Fund boosted its position in Par Pacific by 19.1% during the 4th quarter. New York State Common Retirement Fund now owns 28,694 shares of the company's stock valued at $470,000 after acquiring an additional 4,600 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Par Pacific by 126.2% during the fourth quarter. Sanctuary Advisors LLC now owns 49,256 shares of the company's stock valued at $843,000 after purchasing an additional 27,480 shares in the last quarter. Principal Financial Group Inc. grew its stake in Par Pacific by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 271,242 shares of the company's stock valued at $4,446,000 after purchasing an additional 5,710 shares during the last quarter. Allworth Financial LP raised its holdings in Par Pacific by 4,804.2% in the fourth quarter. Allworth Financial LP now owns 8,141 shares of the company's stock worth $139,000 after purchasing an additional 7,975 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Par Pacific by 1.5% during the fourth quarter. Rhumbline Advisers now owns 181,940 shares of the company's stock valued at $2,982,000 after buying an additional 2,709 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research analysts recently commented on the stock. Mizuho lowered shares of Par Pacific from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. Raymond James began coverage on Par Pacific in a research report on Friday, January 24th. They set an "outperform" rating and a $25.00 price target on the stock. Piper Sandler lowered their price objective on Par Pacific from $25.00 to $21.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. TD Cowen reduced their target price on Par Pacific from $21.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, StockNews.com downgraded Par Pacific from a "hold" rating to a "sell" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $22.57.

Par Pacific Stock Performance

Shares of NYSE:PARR traded up $0.31 during midday trading on Wednesday, reaching $14.72. The company's stock had a trading volume of 586,582 shares, compared to its average volume of 1,242,814. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average of $15.91 and a 200 day moving average of $16.87. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $40.20. The firm has a market capitalization of $805.84 million, a PE ratio of 2.84 and a beta of 2.01.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. On average, equities analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

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.