Insider Selling: Par Pacific Holdings, Inc. (NYSE:PARR) Director Sells 67,700 Shares of Stock

Par Pacific Holdings, Inc. (NYSE:PARR) Director William Pate sold 67,700 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the transaction, the director now owns 524,610 shares in the company, valued at $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Par Pacific Trading Up 2.0 %

PARR stock opened at $16.46 on Friday. Par Pacific Holdings, Inc. has a one year low of $14.84 and a one year high of $40.69. The company has a market capitalization of $920.97 million, a PE ratio of 3.19 and a beta of 1.99. The company’s 50 day moving average price is $16.99 and its two-hundred day moving average price is $20.83. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69.

Par Pacific (NYSE:PARR) last issued its earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the company earned $3.15 EPS. The firm’s revenue was down 16.9% compared to the same quarter last year. As a group, analysts predict that Par Pacific Holdings, Inc. will post 0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PARR. Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Mizuho cut their price target on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a research report on Monday, September 9th. StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $37.00 to $23.00 in a research note on Friday, September 20th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Par Pacific currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Institutional Investors Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently modified their holdings of PARR. Pacer Advisors Inc. bought a new position in Par Pacific during the 3rd quarter worth approximately $61,870,000. State Street Corp boosted its stake in shares of Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after purchasing an additional 328,325 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Par Pacific by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock worth $53,956,000 after purchasing an additional 17,509 shares during the last quarter. Millennium Management LLC increased its stake in shares of Par Pacific by 48.4% in the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after buying an additional 636,908 shares during the period. Finally, American Century Companies Inc. raised its holdings in Par Pacific by 13.9% during the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock valued at $36,254,000 after buying an additional 175,331 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.