Par Pacific (NYSE:PARR) Shares Down 4.1% – Time to Sell?

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price traded down 4.1% during trading on Friday. The company traded as low as $82.09 and last traded at $82.70. 146,025 shares changed hands during trading, a decline of 87% from the average session volume of 1,164,448 shares. The stock had previously closed at $86.21.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PARR. Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. UBS Group reaffirmed a “neutral” rating on shares of Par Pacific in a report on Wednesday, August 26th. The Goldman Sachs Group increased their price target on Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Benchmark reaffirmed a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Finally, TD Cowen dropped their target price on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $84.29.

Par Pacific Trading Down 2.1%

The stock has a market cap of $4.23 billion, a PE ratio of 4.92 and a beta of 0.75. The company has a quick ratio of 0.76, a current ratio of 1.84 and a debt-to-equity ratio of 0.38. The firm has a 50-day simple moving average of $79.54 and a 200-day simple moving average of $67.66.

Par Pacific (NYSE:PARR) last announced its earnings results 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 business had revenue of $2.97 billion during the quarter, compared to analyst estimates 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 for the quarter was up 56.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.54 earnings per share. Equities analysts forecast that Par Pacific Holdings, Inc. will post 22.21 earnings per share for the current year.

Insider Buying and Selling

In other Par Pacific news, insider Danielle Mattiussi sold 3,278 shares of Par Pacific stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $67.29, for a total transaction of $220,576.62. Following the completion of the sale, the insider owned 27,878 shares of the company’s stock, valued at $1,875,910.62. The trade was a 10.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Monteleone sold 40,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was 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 owned 457,167 shares of the company’s stock, valued at $37,167,677.10. The trade was a 8.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 54,248 shares of company stock worth $4,394,057. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Par Pacific

A number of hedge funds have recently bought and sold shares of the company. Engineers Gate Manager LP boosted its holdings in Par Pacific by 93.1% in the second quarter. Engineers Gate Manager LP now owns 111,477 shares of the company’s stock worth $6,252,000 after acquiring an additional 53,737 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Par Pacific in the 2nd quarter worth $121,000. Nykredit A S bought a new stake in Par Pacific during the second quarter valued at about $215,000. Corient Private Wealth LP boosted its stake in shares of Par Pacific by 12.8% in the second quarter. Corient Private Wealth LP now owns 5,826 shares of the company’s stock worth $327,000 after acquiring an additional 663 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Par Pacific during the second quarter worth about $3,017,000. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Through its refining operations, the company produces gasoline, diesel, jet fuel, asphalt and other refined products for commercial, industrial and retail customers.

Par Pacific operates refineries and related energy infrastructure in the western United States, with a significant presence in Hawaii and additional refining and logistics operations in the Pacific Northwest and Rocky Mountain regions.