Insider Selling: Par Pacific (NYSE:PARR) EVP Sells 15,848 Shares of Stock

Par Pacific Holdings, Inc. (NYSE:PARR) EVP Richard Creamer sold 15,848 shares of the company’s 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 sale, the executive vice president owned 54,654 shares in the company, valued at $2,252,837.88. The trade was a 22.48% 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 Stock Performance

Shares of NYSE:PARR traded up $0.56 on Friday, hitting $41.31. The company’s stock had a trading volume of 58,082 shares, compared to its average volume of 1,381,692. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -147.52 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 12 month low of $11.86 and a 12 month high of $41.82. The stock’s 50-day moving average is $36.32 and its two-hundred day moving average is $29.24.

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

Institutional Investors Weigh In On Par Pacific

A number of institutional investors have recently bought and sold shares of PARR. Farther Finance Advisors LLC raised its stake in shares of Par Pacific by 175.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock valued at $31,000 after buying an additional 753 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Par Pacific during the 3rd quarter valued at about $44,000. Parallel Advisors LLC increased its stake in Par Pacific by 232.9% in the second quarter. Parallel Advisors LLC now owns 1,325 shares of the company’s stock valued at $35,000 after acquiring an additional 927 shares during the period. Nisa Investment Advisors LLC lifted its stake in Par Pacific by 157.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock worth $42,000 after purchasing an additional 976 shares during the period. Finally, USA Financial Formulas bought a new position in Par Pacific during the third quarter worth about $82,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Analyst Ratings Changes

PARR has been the subject of a number of recent research reports. Tudor, Pickering, Holt & Co. raised Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday. Mizuho raised their price target on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Raymond James Financial reiterated an “outperform” rating and set a $45.00 price target (up previously from $38.00) on shares of Par Pacific in a research note on Friday, October 17th. TD Cowen lowered their target price on shares of Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.29.

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.