Par Pacific (NYSE:PARR) Shares Down 4% – Here’s What Happened

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price fell 4% during trading on Monday . The company traded as low as $36.59 and last traded at $36.2630. 491,668 shares changed hands during trading, a decline of 64% from the average session volume of 1,369,155 shares. The stock had previously closed at $37.77.

Wall Street Analyst Weigh In

PARR has been the subject of a number of research reports. Mizuho boosted their target price on shares of Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. UBS Group lifted their price objective on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Piper Sandler upped their target price on Par Pacific from $44.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 15th. Finally, The Goldman Sachs Group boosted their price target on Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.14.

Par Pacific Stock Down 3.1%

The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 7.69 and a beta of 1.25. The business’s 50 day moving average is $41.18 and its 200-day moving average is $34.80. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.48 and a current ratio of 1.51.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $3.97. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.72 billion. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. On average, sell-side analysts predict 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 firm’s stock in a transaction that occurred on Friday, November 21st. The shares were 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 trade represents a 19.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard Creamer sold 15,848 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was 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 represents a 22.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Par Pacific by 30.9% in the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock valued at $178,680,000 after acquiring an additional 1,190,088 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Par Pacific by 6.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,767,341 shares of the company’s stock valued at $62,601,000 after purchasing an additional 109,705 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Par Pacific by 22.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock valued at $62,203,000 after purchasing an additional 317,484 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Par Pacific by 42.8% during the 3rd quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock worth $53,923,000 after purchasing an additional 456,473 shares during the period. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of Par Pacific during the 2nd quarter worth about $34,609,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.