Insider Selling: Par Pacific Holdings, Inc. (NYSE:PARR) Director Sells 67,700 Shares of Stock

Par Pacific Holdings, Inc. (NYSE:PARR) Director William Pate sold 67,700 shares of Par Pacific 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 sale, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Par Pacific Stock Performance

Par Pacific stock opened at $16.46 on Monday. The stock’s 50 day moving average is $16.99 and its 200 day moving average is $20.79. The company has a market capitalization of $920.94 million, a P/E ratio of 3.19 and a beta of 1.99. Par Pacific Holdings, Inc. has a twelve month low of $14.84 and a twelve month high of $40.69. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last released its earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $2.14 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $3.15 earnings per share. On average, equities research analysts predict that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in Par Pacific during the 3rd quarter valued at $383,000. Geode Capital Management LLC increased its position in Par Pacific by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock valued at $22,591,000 after acquiring an additional 7,804 shares during the last quarter. Vestcor Inc purchased a new position in Par Pacific in the third quarter worth about $375,000. Barclays PLC grew its stake in shares of Par Pacific by 10.1% during the 3rd quarter. Barclays PLC now owns 469,640 shares of the company’s stock valued at $8,265,000 after purchasing an additional 42,930 shares during the period. Finally, Yaupon Capital Management LP increased its position in shares of Par Pacific by 17.0% during the 3rd quarter. Yaupon Capital Management LP now owns 604,828 shares of the company’s stock valued at $10,645,000 after purchasing an additional 87,881 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PARR shares. The Goldman Sachs Group cut their target price on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Tudor, Pickering, Holt & Co. downgraded Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Mizuho lowered their target price on Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. Finally, Tudor Pickering raised Par Pacific to a “hold” rating in a research report on Monday, September 9th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.00.

Par Pacific Company 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.