Richard Creamer Sells 15,848 Shares of Par Pacific (NYSE:PARR) Stock

Par Pacific Holdings, Inc. (NYSE:PARR) EVP Richard Creamer sold 15,848 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $41.22, for a total transaction of $653,254.56. Following the sale, the executive vice president directly owned 54,654 shares in the company, valued at $2,252,837.88. This trade represents a 22.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Par Pacific Stock Performance

Shares of PARR stock opened at $41.16 on Friday. The business has a fifty day moving average of $36.45 and a 200 day moving average of $29.54. Par Pacific Holdings, Inc. has a 1 year low of $11.86 and a 1 year high of $41.82. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -146.99 and a beta of 1.74.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company earned ($0.10) earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. As a group, research analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PARR. Allspring Global Investments Holdings LLC raised its position in shares of Par Pacific by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,601 shares of the company’s stock worth $265,000 after acquiring an additional 6,522 shares during the period. Principal Financial Group Inc. increased its stake in shares of Par Pacific by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 278,536 shares of the company’s stock valued at $3,972,000 after purchasing an additional 7,294 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Par Pacific by 2.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 43,531 shares of the company’s stock worth $621,000 after purchasing an additional 960 shares during the period. Cerity Partners LLC raised its holdings in Par Pacific by 10.9% in the 1st quarter. Cerity Partners LLC now owns 15,571 shares of the company’s stock worth $222,000 after purchasing an additional 1,535 shares during the period. Finally, CWM LLC boosted its position in Par Pacific by 117.5% during the first quarter. CWM LLC now owns 7,158 shares of the company’s stock worth $102,000 after purchasing an additional 3,867 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PARR. Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Thursday. TD Cowen lowered their price target on shares of Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Raymond James Financial reiterated an “outperform” rating and set a $45.00 price objective (up previously from $38.00) on shares of Par Pacific in a research note on Friday, October 17th. Finally, Cowen reissued a “buy” rating on shares of Par Pacific in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.29.

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.