Par Pacific (NYSE:PARR) CEO Sells $4,284,104.60 in Stock

Par Pacific Holdings, Inc. (NYSE:PARR) CEO William Monteleone sold 99,284 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $43.15, for a total value of $4,284,104.60. Following the completion of the sale, the chief executive officer directly owned 423,022 shares of the company’s stock, valued at approximately $18,253,399.30. This represents a 19.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Par Pacific Trading Up 1.0%

Shares of PARR opened at $45.20 on Monday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -161.42 and a beta of 1.74. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $48.40. The firm has a 50 day moving average price of $39.30 and a 200-day moving average price of $32.61.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, November 4th. The company reported $5.95 EPS for the quarter, beating the consensus estimate of $1.98 by $3.97. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.72 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) EPS. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PARR. Raymond James Financial reissued an “outperform” rating and issued a $45.00 target price (up previously from $38.00) on shares of Par Pacific in a research note on Friday, October 17th. Tudor Pickering upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. TD Cowen dropped their price objective on Par Pacific from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Piper Sandler lifted their target price on shares of Par Pacific from $44.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Finally, Mizuho upped their price target on shares of Par Pacific from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Par Pacific has a consensus rating of “Moderate Buy” and a consensus price target of $41.57.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Par Pacific by 30.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock valued at $178,680,000 after acquiring an additional 1,190,088 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Par Pacific by 6.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,767,341 shares of the company’s stock valued at $62,601,000 after purchasing an additional 109,705 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Par Pacific by 22.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock valued at $62,203,000 after purchasing an additional 317,484 shares in the last quarter. American Century Companies Inc. grew its stake in Par Pacific by 42.8% in the third quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock worth $53,923,000 after purchasing an additional 456,473 shares during the period. Finally, Encompass Capital Advisors LLC bought a new position in Par Pacific in the second quarter worth $34,609,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.