Par Pacific (NYSE:PARR) Director Timothy Clossey Sells 10,970 Shares of 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 transaction, the director owned 51,526 shares in the company, valued at approximately $4,328,184. This represents a 17.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Par Pacific Stock Performance

NYSE:PARR opened at $84.56 on Friday. Par Pacific Holdings, Inc. has a fifty-two week low of $32.24 and a fifty-two week high of $87.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.84. The company has a 50 day moving average price of $76.90 and a 200 day moving average price of $64.11. The stock has a market capitalization of $4.24 billion, a P/E ratio of 4.93 and a beta of 0.77.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.40 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. The firm’s quarterly revenue was up 56.8% compared to the same quarter last year. Equities research analysts forecast that Par Pacific Holdings, Inc. will post 21.33 EPS for the current year.

Institutional Trading of Par Pacific

Large investors have recently made changes to their positions in the company. Engineers Gate Manager LP raised its holdings in Par Pacific by 93.1% in the second quarter. Engineers Gate Manager LP now owns 111,477 shares of the company’s stock valued at $6,252,000 after acquiring an additional 53,737 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Par Pacific during the 2nd quarter worth approximately $121,000. Nykredit A S purchased a new stake in shares of Par Pacific in the 2nd quarter valued at approximately $215,000. Corient Private Wealth LP increased its position in shares of Par Pacific by 12.8% in the 2nd quarter. Corient Private Wealth LP now owns 5,826 shares of the company’s stock valued at $327,000 after purchasing an additional 663 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Par Pacific in the 2nd quarter valued at approximately $3,017,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PARR has been the topic of several research reports. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. UBS Group reaffirmed a “neutral” rating on shares of Par Pacific in a research report on Wednesday, August 26th. Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. Evercore upgraded shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Par Pacific presently has an average rating of “Buy” and a consensus target price of $81.57.

Key Par Pacific News

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?

Par Pacific Company Profile

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.