Par Pacific (NYSE:PARR) CEO William Monteleone Sells 40,000 Shares of Stock

Par Pacific Holdings, Inc. (NYSE:PARR) CEO William Monteleone sold 40,000 shares of Par Pacific stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total transaction of $3,252,000.00. Following the transaction, the chief executive officer directly owned 457,167 shares in the company, valued at approximately $37,167,677.10. This represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Par Pacific Price Performance

Shares of NYSE PARR opened at $83.60 on Friday. The company has a market capitalization of $4.19 billion, a PE ratio of 4.88 and a beta of 0.77. 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 stock’s 50 day moving average price is $76.38 and its 200-day moving average price is $63.97. Par Pacific Holdings, Inc. has a twelve month low of $32.24 and a twelve month high of $87.03.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, beating analysts’ consensus estimates of $8.22 by $1.88. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.Par Pacific’s revenue was up 56.8% on a year-over-year basis. During the same period last year, the business posted $1.54 earnings per share. On average, equities analysts anticipate that Par Pacific Holdings, Inc. will post 21.33 EPS for the current year.

Institutional Investors Weigh In On Par Pacific

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new stake in Par Pacific during the first quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its position in Par Pacific by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after purchasing an additional 173 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Aster Capital Management DIFC Ltd increased its stake in shares of Par Pacific by 34.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock worth $65,000 after purchasing an additional 478 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Par Pacific in the second quarter valued at approximately $66,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

PARR has been the subject of several research analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Par Pacific in a research report on Wednesday, August 26th. Raymond James Financial increased their price target on shares of Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Benchmark restated a “buy” rating on shares of Par Pacific in a report on Wednesday, July 8th. Evercore raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Finally, Guggenheim upgraded shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Par Pacific has a consensus rating of “Buy” and an average target price of $81.57.

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.