Franklin Resources Inc. Has $1.02 Million Stock Holdings in Par Pacific Holdings, Inc. (NYSE:PARR)

Franklin Resources Inc. cut its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 42.6% during the third quarter, HoldingsChannel reports. The firm owned 57,960 shares of the company’s stock after selling 42,995 shares during the period. Franklin Resources Inc.’s holdings in Par Pacific were worth $1,022,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PARR. Bank of New York Mellon Corp raised its holdings in Par Pacific by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 518,708 shares of the company’s stock valued at $13,097,000 after acquiring an additional 4,877 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Par Pacific by 113.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 20,896 shares of the company’s stock valued at $528,000 after buying an additional 11,092 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Par Pacific by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,462 shares of the company’s stock worth $363,000 after acquiring an additional 1,139 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Par Pacific in the second quarter worth $275,000. Finally, nVerses Capital LLC grew its holdings in Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Par Pacific

In other news, Director William Pate sold 67,700 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the transaction, the director now directly owns 524,610 shares in the company, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PARR shares. The Goldman Sachs Group reduced their target price on Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Tudor Pickering raised Par Pacific to a “hold” rating in a research report on Monday, September 9th. Tudor, Pickering, Holt & Co. cut shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $22.00 in a report on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.50.

Par Pacific Stock Down 0.9 %

PARR opened at $16.19 on Friday. Par Pacific Holdings, Inc. has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The stock has a fifty day moving average of $16.57 and a 200-day moving average of $20.14. The company has a market capitalization of $905.86 million, a P/E ratio of 3.14 and a beta of 1.99.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.15 EPS. On average, equities analysts expect that Par Pacific Holdings, Inc. will post 1.12 EPS for the current year.

About Par Pacific

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.