Principal Financial Group Inc. Has $7.25 Million Holdings in Par Pacific Holdings, Inc. (NYSE:PARR)

Principal Financial Group Inc. decreased its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 7.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 286,916 shares of the company’s stock after selling 23,023 shares during the quarter. Principal Financial Group Inc.’s holdings in Par Pacific were worth $7,245,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Quadrant Capital Group LLC increased its stake in Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after acquiring an additional 458 shares during the period. Innealta Capital LLC bought a new position in shares of Par Pacific in the second quarter worth $104,000. EntryPoint Capital LLC acquired a new position in Par Pacific in the first quarter valued at about $157,000. Navellier & Associates Inc. bought a new stake in Par Pacific during the fourth quarter worth about $221,000. Finally, PNC Financial Services Group Inc. grew its stake in Par Pacific by 17.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the company’s stock worth $252,000 after buying an additional 1,024 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

PARR has been the topic of several analyst reports. TD Cowen reduced their price target on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Mizuho began coverage on Par Pacific in a report on Wednesday, July 17th. They set an “outperform” rating and a $33.00 price target for the company. The Goldman Sachs Group dropped their price objective on Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. UBS Group decreased their target price on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Finally, Piper Sandler dropped their target price on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Par Pacific has a consensus rating of “Hold” and an average price target of $33.17.

Par Pacific Stock Down 2.8 %

NYSE:PARR opened at $19.86 on Monday. Par Pacific Holdings, Inc. has a one year low of $19.74 and a one year high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The company has a market cap of $1.15 billion, a PE ratio of 2.49 and a beta of 1.99. The firm’s 50 day simple moving average is $23.60 and its 200 day simple moving average is $28.86.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. Par Pacific’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. On average, research analysts anticipate that Par Pacific Holdings, Inc. will post 2.01 earnings per share for the current 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.