Par Pacific (NYSE:PARR) Trading Up 2.7% – Here’s What Happened

Par Pacific Holdings, Inc. (NYSE:PARR) rose 2.7% during mid-day trading on Monday . The company traded as high as $35.77 and last traded at $35.9650. Approximately 213,106 shares traded hands during trading, a decline of 84% from the average daily volume of 1,364,815 shares. The stock had previously closed at $35.01.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PARR shares. Tudor, Pickering, Holt & Co. raised Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Piper Sandler raised their price target on Par Pacific from $44.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Zacks Research cut Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. The Goldman Sachs Group upped their price objective on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.14.

Par Pacific Stock Up 2.6%

The firm’s 50 day simple moving average is $41.20 and its 200 day simple moving average is $35.28. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 7.56 and a beta of 1.25.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business earned ($0.10) earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 99,284 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 423,022 shares of the company’s stock, valued at $18,253,399.30. This represents a 19.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Richard Creamer sold 15,848 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $41.22, for a total value of $653,254.56. Following the transaction, the executive vice president owned 54,654 shares in the company, valued at approximately $2,252,837.88. This trade represents a 22.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC lifted its stake in Par Pacific by 1,072.1% in the first quarter. AlphaQuest LLC now owns 11,428 shares of the company’s stock valued at $163,000 after buying an additional 10,453 shares in the last quarter. Ieq Capital LLC acquired a new position in shares of Par Pacific during the 1st quarter worth approximately $152,000. Trexquant Investment LP lifted its position in Par Pacific by 87.1% during the first quarter. Trexquant Investment LP now owns 372,063 shares of the company’s stock worth $5,306,000 after acquiring an additional 173,181 shares during the last quarter. State of Wyoming bought a new position in shares of Par Pacific during the first quarter worth approximately $104,000. Finally, DRW Securities LLC increased its holdings in Par Pacific by 20.2% in the 1st quarter. DRW Securities LLC now owns 100,858 shares of the company’s stock valued at $1,438,000 after buying an additional 16,969 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.