Timothy Clossey Sells 10,970 Shares of Par Pacific (NYSE:PARR) Stock

Par Pacific Holdings, Inc. (NYSE:PARR) Director Timothy Clossey sold 10,970 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $84.00, for a total transaction of $921,480.00. Following the completion of the sale, the director directly owned 51,526 shares of the company’s stock, valued at $4,328,184. The trade was a 17.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Par Pacific Stock Up 1.2%

Par Pacific stock opened at $84.56 on Friday. The business has a fifty day moving average of $76.90 and a two-hundred day moving average of $64.11. 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 firm has a market cap of $4.24 billion, a P/E ratio of 4.93 and a beta of 0.77. 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 released its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, topping the consensus estimate of $8.22 by $1.88. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The business’s revenue for the quarter was up 56.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. On average, analysts forecast that Par Pacific Holdings, Inc. will post 21.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

A number of large investors have recently made changes to their positions in PARR. Royal Bank of Canada raised its stake in Par Pacific by 23.9% in the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock worth $334,000 after acquiring an additional 4,525 shares during the last quarter. AQR Capital Management LLC grew its stake in Par Pacific by 118.2% during the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock valued at $2,344,000 after purchasing an additional 89,023 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Par Pacific by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock valued at $461,000 after purchasing an additional 1,427 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Par Pacific by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock valued at $2,085,000 after purchasing an additional 6,618 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of Par Pacific by 352.7% in the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after purchasing an additional 211,002 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PARR. Guggenheim upgraded shares of Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. UBS Group reiterated a “neutral” rating on shares of Par Pacific in a research note on Wednesday, August 26th. The Goldman Sachs Group increased their target price 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. Benchmark restated a “buy” rating on shares of Par Pacific in a research note on Wednesday, July 8th. Finally, Evercore raised shares of Par Pacific to an “outperform” rating in a report 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. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $81.57.

Par Pacific News Summary

Here are the key news stories impacting Par Pacific this week:

• Positive Sentiment: Refining market remains supportive: Tight refining capacity, low fuel inventories and firm demand are supporting elevated crack spreads and margins. PARR and other refiners have gained more than 50% over the past six months. Oil Prices are High, But These 2 Refining Stocks are Still Crushing It
• Positive Sentiment: Strong operating results and valuation: Par Pacific’s flexible crude slate and diversified refining, retail and logistics platform are viewed as supporting earnings. The company’s latest quarterly EPS of $10.10 exceeded estimates by $1.88, while revenue rose 56.8% year over year to $2.97 billion. A reported 3.50x EV/EBITDA multiple is below the industry average. Par Pacific Surges 148% in a Year
• Positive Sentiment: Analyst outlook is broadly favorable: The stock carries an overall “Buy” rating, with most covering analysts recommending Buy or Strong Buy. Recent positive commentary emphasizes the company’s downstream diversification and ability to benefit from constrained industry capacity. Can Par Pacific’s Diversified Downstream Platform Drive Growth?

About Par Pacific

Par Pacific Holdings, Inc (NYSE:PARR) is an energy company engaged in refining, logistics and retail operations. The company processes crude oil into transportation fuels and other refined products, including gasoline, diesel, jet fuel and asphalt, which it sells through wholesale and retail channels.

Par Pacific operates refining and fuel-distribution assets serving markets in Hawaii and the western United States, including the Rocky Mountain region. Its logistics operations include fuel terminals, pipelines, storage facilities and related infrastructure used to transport and distribute crude oil and refined petroleum products.

The company also operates retail fuel stations and convenience stores under various brand names, primarily in Hawaii and other western markets.