American Century Companies Inc. Reduces Stock Position in Par Pacific Holdings, Inc. $PARR

American Century Companies Inc. trimmed its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 16.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,065,919 shares of the company’s stock after selling 217,068 shares during the quarter. American Century Companies Inc.’s holdings in Par Pacific were worth $28,279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PARR. Franklin Resources Inc. bought a new stake in Par Pacific during the second quarter worth approximately $766,000. JPMorgan Chase & Co. boosted its holdings in shares of Par Pacific by 376.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 459,641 shares of the company’s stock worth $12,194,000 after purchasing an additional 363,085 shares during the period. Birchbrook Inc. increased its position in shares of Par Pacific by 44.4% during the 2nd quarter. Birchbrook Inc. now owns 6,500 shares of the company’s stock valued at $172,000 after purchasing an additional 2,000 shares during the last quarter. Creative Planning raised its holdings in Par Pacific by 43.8% during the 2nd quarter. Creative Planning now owns 50,438 shares of the company’s stock valued at $1,338,000 after buying an additional 15,362 shares during the period. Finally, SG Americas Securities LLC lifted its position in Par Pacific by 83.9% in the second quarter. SG Americas Securities LLC now owns 31,775 shares of the company’s stock worth $843,000 after buying an additional 14,492 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PARR. TD Cowen reduced their target price on shares of Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Raymond James Financial reiterated an “outperform” rating and set a $45.00 price target (up from $38.00) on shares of Par Pacific in a report on Friday, October 17th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 13th. Mizuho boosted their target price on Par Pacific from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Finally, Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.57.

Insider Buying and Selling

In other Par Pacific news, CEO William Monteleone sold 99,284 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the transaction, the chief executive officer directly owned 423,022 shares in the company, valued at $18,253,399.30. This represents a 19.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy Clossey sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $33.37, for a total transaction of $66,740.00. Following 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 SEC filing for this sale provides additional information. Insiders sold 135,922 shares of company stock valued at $5,655,971 over the last quarter. 4.40% of the stock is owned by company insiders.

Par Pacific Stock Up 1.0%

Shares of NYSE PARR opened at $45.20 on Monday. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $48.40. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -161.42 and a beta of 1.74. The stock has a 50 day moving average price of $39.30 and a 200 day moving average price of $32.61. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company posted ($0.10) EPS. Par Pacific’s revenue was down 6.1% on a year-over-year basis. Sell-side analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Par Pacific Company 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.