BlackRock Inc. trimmed its stake in shares of Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,785,869 shares of the oil and gas company’s stock after selling 4,060 shares during the quarter. BlackRock Inc. owned approximately 8.27% of Par Pacific worth $65,003,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PARR. Stone Ridge Asset Management LLC bought a new position in shares of Par Pacific in the 4th quarter worth about $195,000. O Shaughnessy Asset Management LLC lifted its position in shares of Par Pacific by 316.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,209 shares of the oil and gas company’s stock worth $175,000 after buying an additional 7,755 shares during the last quarter. Gotham Asset Management LLC bought a new position in shares of Par Pacific in the 4th quarter worth about $218,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Par Pacific in the 4th quarter worth about $239,000. Finally, Jefferies Group LLC bought a new position in shares of Par Pacific in the 4th quarter worth about $308,000. Hedge funds and other institutional investors own 83.57% of the company’s stock.
Separately, Zacks Investment Research cut shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Par Pacific presently has an average rating of “Buy” and a consensus price target of $21.00.
Par Pacific (NYSEAMERICAN:PARR) last released its quarterly earnings data on Tuesday, May 8th. The oil and gas company reported $0.18 earnings per share for the quarter. The business had revenue of $765.44 million for the quarter, compared to analysts’ expectations of $663.50 million. Par Pacific had a net margin of 2.87% and a return on equity of 17.03%. equities research analysts anticipate that Par Pacific Holdings, Inc. will post 1.33 earnings per share for the current fiscal year.
In other news, VP James Matthew Vaughn sold 26,821 shares of Par Pacific stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $17.60, for a total value of $472,049.60. Following the transaction, the vice president now owns 48,693 shares of the company’s stock, valued at approximately $856,996.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is currently owned by company insiders.
Par Pacific Profile
Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.
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