Insider Selling: Par Pacific (NYSE:PARR) Insider Sells $220,576.62 in Stock

Par Pacific Holdings, Inc. (NYSE:PARR) insider Danielle Mattiussi sold 3,278 shares of the business’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 sale, the insider owned 27,878 shares in the company, valued at $1,875,910.62. This represents a 10.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Par Pacific Price Performance

Par Pacific stock opened at $71.60 on Tuesday. The stock has a 50-day moving average price of $65.08 and a two-hundred day moving average price of $57.59. Par Pacific Holdings, Inc. has a 12 month low of $27.10 and a 12 month high of $87.03. The company has a market capitalization of $3.59 billion, a PE ratio of 4.18 and a beta of 0.78. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, topping the consensus estimate of $8.22 by $1.88. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the business posted $1.54 earnings per share. The business’s quarterly revenue was up 56.8% compared to the same quarter last year. Analysts expect that Par Pacific Holdings, Inc. will post 19.35 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. LMG Wealth Partners LLC bought a new position in shares of Par Pacific in the fourth quarter valued at $760,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Par Pacific by 105.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 65,235 shares of the company’s stock valued at $2,292,000 after buying an additional 33,537 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Par Pacific by 22.5% during the fourth quarter. BNP Paribas Financial Markets now owns 506,872 shares of the company’s stock worth $17,811,000 after acquiring an additional 93,249 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Par Pacific in the 1st quarter worth about $16,277,000. Finally, Jackson Creek Investment Advisors LLC lifted its position in Par Pacific by 325.0% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 51,431 shares of the company’s stock valued at $1,807,000 after acquiring an additional 39,329 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PARR has been the subject of several recent research reports. The Goldman Sachs Group upped their price target on shares of Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Mizuho lifted their price target on shares of Par Pacific from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Weiss Ratings raised shares of Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Benchmark reiterated a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Finally, Evercore raised Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $80.86.

About Par Pacific

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.