Par Pacific (NYSE:PARR) Shares Break Above 50-Day Moving Average – Time to Sell?

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $81.64 and traded as high as $84.00. Par Pacific shares last traded at $82.9180, with a volume of 646,590 shares traded.

Wall Street Analyst Weigh In

PARR has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. UBS Group restated a “neutral” rating on shares of Par Pacific in a report on Wednesday, August 26th. Mizuho set a $91.00 price target on Par Pacific and gave the stock a “neutral” rating in a report on Thursday, October 8th. Finally, TD Cowen reduced their price target on Par Pacific from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.29.

Par Pacific Stock Up 7.5%

The business has a 50-day simple moving average of $81.64 and a two-hundred day simple moving average of $63.18. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.84. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 4.84 and a beta of 0.75.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.22 by $1.88. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. Par Pacific’s revenue was up 56.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. As a group, equities analysts predict that Par Pacific Holdings, Inc. will post 26.88 EPS for the current year.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, CEO William Monteleone sold 40,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the transaction, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at approximately $37,167,677.10. This trade represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy Clossey sold 10,970 shares of Par Pacific stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total transaction of $921,480.00. Following the sale, the director owned 51,526 shares of the company’s stock, valued at approximately $4,328,184. The trade was a 17.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 54,248 shares of company stock valued at $4,394,057. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Par Pacific

Several hedge funds and other institutional investors have recently bought and sold shares of PARR. NewEdge Advisors LLC purchased a new stake in Par Pacific during the first quarter worth $26,000. Carolina Wealth Advisors LLC purchased a new position in shares of Par Pacific in the third quarter valued at $43,000. EverSource Wealth Advisors LLC increased its position in shares of Par Pacific by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock valued at $45,000 after buying an additional 173 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Par Pacific during the 3rd quarter worth $45,000. Finally, Fortitude Family Office LLC raised its stake in shares of Par Pacific by 498.1% during the 3rd quarter. Fortitude Family Office LLC now owns 616 shares of the company’s stock worth $50,000 after buying an additional 513 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

About Par Pacific

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.