Par Pacific (NYSE:PARR) Stock Price Down 5.1% – Here’s What Happened

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) dropped 5.1% on Tuesday. The stock traded as low as $78.36 and last traded at $78.9150. 75,619 shares were traded during trading, a decline of 93% from the average daily volume of 1,133,728 shares. The stock had previously closed at $83.17.

Analysts Set New Price Targets

PARR has been the subject of several research analyst reports. UBS Group reissued a “neutral” rating on shares of Par Pacific in a research report on Wednesday, August 26th. Mizuho set a $91.00 price target on shares of Par Pacific and gave the stock a “neutral” rating in a research report on Thursday, October 8th. The Goldman Sachs Group cut shares of Par Pacific from a “buy” rating to a “neutral” rating and increased their price target for the stock from $90.00 to $94.00 in a research report on Thursday, October 15th. TD Cowen decreased their price target on Par Pacific from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.43.

Par Pacific Stock Performance

The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 4.48 and a beta of 0.75. The company has a 50-day moving average of $81.64 and a 200-day moving average of $63.18.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.22 by $1.88. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%. The firm’s revenue for the quarter 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 research analysts forecast that Par Pacific Holdings, Inc. will post 26.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Par Pacific

In other news, Director Timothy Clossey sold 10,970 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $84.00, for a total value of $921,480.00. Following the transaction, the director directly owned 51,526 shares in the company, valued at approximately $4,328,184. This trade represents a 17.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William Monteleone sold 40,000 shares of Par Pacific stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total transaction of $3,252,000.00. Following the completion of the transaction, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at $37,167,677.10. This trade represents a 8.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,248 shares of company stock worth $4,394,057 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Several institutional investors and hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. grew its stake in Par Pacific by 25.9% in the third quarter. SBI Securities Co. Ltd. now owns 764 shares of the company’s stock valued at $62,000 after purchasing an additional 157 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Par Pacific by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock valued at $45,000 after buying an additional 173 shares in the last quarter. Signaturefd LLC grew its stake in shares of Par Pacific by 11.3% in the 3rd quarter. Signaturefd LLC now owns 2,448 shares of the company’s stock valued at $200,000 after buying an additional 249 shares in the last quarter. GAMMA Investing LLC increased its holdings in Par Pacific by 1.7% in the third quarter. GAMMA Investing LLC now owns 15,254 shares of the company’s stock worth $1,245,000 after buying an additional 255 shares during the last quarter. Finally, Birchbrook Inc. grew its position in Par Pacific by 12.8% in the second quarter. Birchbrook Inc. now owns 3,385 shares of the company’s stock worth $190,000 after acquiring an additional 385 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.