Par Pacific (NYSE:PARR) Stock Price Down 4.1% – What’s Next?

Par Pacific Holdings, Inc. (NYSE:PARR) was down 4.1% on Friday. The stock 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 Analysts Forecast Growth

PARR has been the subject of several recent analyst reports. UBS Group restated a “neutral” rating on shares of Par Pacific in a research note on Wednesday, August 26th. The Goldman Sachs Group boosted their price target on Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Raymond James Financial upped their price objective on shares of Par Pacific from $90.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. TD Cowen cut their price objective on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $84.29.

Par Pacific Stock Down 2.1%

The business’s 50 day moving average is $79.54 and its 200 day moving average is $67.66. 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 stock has a market cap of $4.23 billion, a price-to-earnings ratio of 4.92 and a beta of 0.75.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the company posted $1.54 earnings per share. Par Pacific’s revenue for the quarter was up 56.8% on a year-over-year basis. Equities analysts expect that Par Pacific Holdings, Inc. will post 22.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Danielle Mattiussi sold 3,278 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $67.29, for a total value of $220,576.62. Following the completion of the transaction, the insider directly owned 27,878 shares in the company, valued at approximately $1,875,910.62. This represents a 10.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Monteleone sold 40,000 shares of Par Pacific stock in a transaction on 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 sale, 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 54,248 shares of company stock worth $4,394,057. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in Par Pacific by 170.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 62,505 shares of the company’s stock valued at $3,916,000 after buying an additional 39,404 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Par Pacific during the first quarter worth approximately $16,277,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Par Pacific during the 2nd quarter worth approximately $3,017,000. BNP Paribas Financial Markets boosted its stake in Par Pacific by 22.5% in the 4th quarter. BNP Paribas Financial Markets now owns 506,872 shares of the company’s stock valued at $17,811,000 after purchasing an additional 93,249 shares during the period. Finally, Engineers Gate Manager LP grew its holdings in Par Pacific by 93.1% in the 2nd quarter. Engineers Gate Manager LP now owns 111,477 shares of the company’s stock valued at $6,252,000 after buying an additional 53,737 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

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.