Connor Clark & Lunn Investment Management Ltd. Sells 64,333 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Posted by Defense World Staff on Aug 23rd, 2023

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR – Free Report) by 59.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,091 shares of the company’s stock after selling 64,333 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Par Pacific worth $1,287,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PARR. JPMorgan Chase & Co. lifted its holdings in Par Pacific by 23.7% during the first quarter. JPMorgan Chase & Co. now owns 440,701 shares of the company’s stock worth $5,738,000 after acquiring an additional 84,454 shares during the period. Citigroup Inc. raised its stake in shares of Par Pacific by 76.8% in the first quarter. Citigroup Inc. now owns 89,635 shares of the company’s stock valued at $1,166,000 after buying an additional 38,945 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Par Pacific by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 7,513 shares of the company’s stock valued at $98,000 after buying an additional 854 shares during the period. MetLife Investment Management LLC raised its stake in shares of Par Pacific by 53.1% in the first quarter. MetLife Investment Management LLC now owns 24,931 shares of the company’s stock valued at $325,000 after buying an additional 8,649 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Par Pacific by 9.7% in the first quarter. Rhumbline Advisers now owns 126,220 shares of the company’s stock valued at $1,643,000 after buying an additional 11,201 shares during the period. 93.23% of the stock is currently owned by institutional investors.

Insider Activity at Par Pacific

In related news, CEO William Pate sold 115,099 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $34.85, for a total transaction of $4,011,200.15. Following the sale, the chief executive officer now directly owns 483,019 shares in the company, valued at approximately $16,833,212.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO William Pate sold 115,099 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $34.85, for a total transaction of $4,011,200.15. Following the completion of the transaction, the chief executive officer now directly owns 483,019 shares in the company, valued at $16,833,212.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President William Monteleone sold 14,063 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $34.98, for a total value of $491,923.74. Following the transaction, the president now owns 309,720 shares of the company’s stock, valued at $10,834,005.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 132,287 shares of company stock worth $4,617,780. 4.40% of the stock is owned by company insiders.

Par Pacific Stock Performance

NYSE:PARR opened at $35.28 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.37 and a current ratio of 1.07. Par Pacific Holdings, Inc. has a 52-week low of $14.42 and a 52-week high of $37.49. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 3.44 and a beta of 2.11. The business’s fifty day moving average is $29.32 and its 200 day moving average is $26.72.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PARR shares. TD Cowen lowered their target price on Par Pacific from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, May 5th. StockNews.com lowered Par Pacific from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Piper Sandler boosted their target price on Par Pacific from $36.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.14.

Read Our Latest Research Report on PARR

Par Pacific Profile

(Free Report)

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.