Par Pacific Holdings, Inc. $PARR Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 38.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 354,439 shares of the company’s stock after purchasing an additional 98,524 shares during the quarter. Principal Financial Group Inc. owned 0.70% of Par Pacific worth $12,554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PARR. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Par Pacific in the 3rd quarter valued at approximately $1,149,000. First Citizens Bank & Trust Co. raised its position in Par Pacific by 213.5% in the second 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 in the last quarter. Creative Planning raised its position in Par Pacific by 43.8% in the second 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 lifted its holdings in Par Pacific by 89.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after acquiring an additional 681,190 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Par Pacific by 507.9% during the 2nd quarter. Allworth Financial LP now owns 50,699 shares of the company’s stock worth $1,345,000 after purchasing an additional 42,359 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Stock Performance

Par Pacific stock opened at $42.47 on Thursday. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $48.40. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 8.94 and a beta of 1.23. The stock has a fifty day moving average of $38.23 and a two-hundred day moving average of $37.02. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.48 and a current ratio of 1.51.

Analysts Set New Price Targets

Several brokerages recently commented on PARR. Zacks Research cut shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Piper Sandler set a $57.00 price target on shares of Par Pacific in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a research note on Monday, December 29th. Mizuho raised their price objective on Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, Tudor Pickering raised Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Par Pacific currently has a consensus rating of “Hold” and an average price target of $44.00.

Insider Activity at Par Pacific

In other news, CEO William Monteleone sold 99,284 shares of the business’s stock in a transaction that occurred on 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 owned 423,022 shares of the company’s stock, valued at $18,253,399.30. The trade was a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by company insiders.

Par Pacific Company Profile

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.