Acadian Asset Management LLC reduced its holdings in Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) by 18.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 421,081 shares of the oil and gas company’s stock after selling 98,386 shares during the period. Acadian Asset Management LLC owned about 0.85% of Par Pacific worth $8,641,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC acquired a new stake in shares of Par Pacific in the first quarter worth approximately $49,000. Quantamental Technologies LLC acquired a new stake in shares of Par Pacific in the first quarter worth approximately $57,000. BNP Paribas Arbitrage SA boosted its stake in shares of Par Pacific by 55,491.7% in the first quarter. BNP Paribas Arbitrage SA now owns 6,671 shares of the oil and gas company’s stock worth $119,000 after acquiring an additional 6,659 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of Par Pacific by 10.7% in the first quarter. Mason Street Advisors LLC now owns 9,619 shares of the oil and gas company’s stock worth $171,000 after acquiring an additional 928 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Par Pacific in the first quarter worth approximately $183,000. 83.57% of the stock is currently owned by institutional investors.
In related news, CEO William Pate sold 28,705 shares of Par Pacific stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $21.25, for a total transaction of $609,981.25. Following the transaction, the chief executive officer now owns 220,855 shares in the company, valued at $4,693,168.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Curt Anastasio sold 11,868 shares of Par Pacific stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $21.89, for a total value of $259,790.52. Following the transaction, the director now owns 60,568 shares in the company, valued at approximately $1,325,833.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,666 shares of company stock worth $2,892,554. 2.80% of the stock is currently owned by company insiders.
Shares of Par Pacific stock opened at $21.74 on Friday. Par Pacific Holdings, Inc. has a one year low of $13.68 and a one year high of $23.52.
Par Pacific (NYSEAMERICAN:PARR) last announced its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.05). The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.55 billion.
A number of analysts have recently issued reports on PARR shares. Oppenheimer set a $23.00 price target on Par Pacific and gave the stock a “buy” rating in a research note on Friday, May 31st. Zacks Investment Research lowered Par Pacific from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada set a $22.00 price target on Par Pacific and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $23.00.
About Par Pacific
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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