Par Pacific (NYSE:PARR) Shares Gap Down on Insider Selling

Par Pacific Holdings, Inc. (NYSE:PARR) gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $16.46, but opened at $15.85. Par Pacific shares last traded at $15.90, with a volume of 106,094 shares traded.

Specifically, Director William Pate sold 67,700 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was 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 $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PARR. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group decreased their price objective on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” 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 cut their target price for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $22.00 in a research report on Monday. Finally, Tudor, Pickering, Holt & Co. downgraded Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.33.

Par Pacific Stock Up 4.0 %

The company has a market capitalization of $895.23 million, a PE ratio of 3.10 and a beta of 1.99. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The firm has a 50 day simple moving average of $16.89 and a two-hundred day simple moving average of $20.63.

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

Institutional Investors Weigh In On Par Pacific

A number of institutional investors have recently added to or reduced their stakes in PARR. Sanctuary Advisors LLC purchased a new position in shares of Par Pacific in the 3rd quarter valued at about $383,000. Geode Capital Management LLC grew 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 worth $22,591,000 after buying an additional 7,804 shares during the period. Vestcor Inc purchased a new position in Par Pacific in the third quarter valued at about $375,000. Barclays PLC lifted its position 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 acquiring an additional 42,930 shares during the period. Finally, Yaupon Capital Management LP boosted its stake 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 worth $10,645,000 after acquiring an additional 87,881 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

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.