Geode Capital Management LLC Cuts Stake in Par Pacific Holdings, Inc. (NYSE:PARR)

Geode Capital Management LLC lowered its position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,258,632 shares of the company's stock after selling 24,671 shares during the quarter. Geode Capital Management LLC owned 2.25% of Par Pacific worth $20,633,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PARR. Charles Schwab Investment Management Inc. grew its stake in Par Pacific by 22.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company's stock worth $14,902,000 after buying an additional 167,594 shares during the last quarter. Barclays PLC boosted its stake in Par Pacific by 10.1% in the third quarter. Barclays PLC now owns 469,640 shares of the company's stock worth $8,265,000 after purchasing an additional 42,930 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Par Pacific by 5.1% in the fourth quarter. Empowered Funds LLC now owns 313,768 shares of the company's stock valued at $5,143,000 after buying an additional 15,240 shares in the last quarter. Principal Financial Group Inc. lifted its position in Par Pacific by 2.2% during the 4th quarter. Principal Financial Group Inc. now owns 271,242 shares of the company's stock worth $4,446,000 after buying an additional 5,710 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Par Pacific by 1.5% in the fourth quarter. Rhumbline Advisers now owns 181,940 shares of the company's stock worth $2,982,000 after acquiring an additional 2,709 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Par Pacific Stock Performance

Shares of NYSE:PARR traded up $0.45 during trading on Thursday, hitting $14.44. The company's stock had a trading volume of 193,102 shares, compared to its average volume of 1,071,789. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The firm has a market cap of $785.05 million, a price-to-earnings ratio of 2.79 and a beta of 1.64. The company has a 50-day moving average of $13.95 and a 200-day moving average of $15.89. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $32.91.

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

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of research reports. 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 lowered their price objective on Par Pacific from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. UBS Group reduced their price target on Par Pacific from $20.00 to $14.75 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. StockNews.com lowered shares of Par Pacific from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group upgraded Par Pacific from a "neutral" rating to a "buy" rating and increased their price objective for the company from $18.00 to $19.00 in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $20.68.

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.