Par Pacific Holdings, Inc. (NYSE:PARR – Get Free Report)’s share price traded up 7.5% during mid-day trading on Monday. The stock traded as high as $81.74 and last traded at $82.9170. Approximately 41,721 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 1,136,001 shares. The stock had previously closed at $77.15.
Analysts Set New Price Targets
A number of research analysts recently issued reports on PARR shares. Mizuho set a $91.00 price target on shares of Par Pacific and gave the company a “neutral” rating in a research report on Thursday, October 8th. TD Cowen cut their price objective on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings upgraded shares of Par Pacific from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Benchmark reaffirmed a “buy” rating on shares of Par Pacific in a research note on Wednesday, July 8th. Finally, Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.29.
Read Our Latest Stock Report on Par Pacific
Par Pacific Trading Up 7.6%
The firm has a market capitalization of $4.16 billion, a PE ratio of 4.85 and a beta of 0.75. The firm has a 50 day simple moving average of $81.61 and a 200 day simple moving average of $70.34. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.
Par Pacific (NYSE:PARR – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, topping the consensus estimate of $8.22 by $1.88. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. The company’s revenue was up 56.8% on a year-over-year basis. Equities analysts expect that Par Pacific Holdings, Inc. will post 26.88 earnings per share for the current fiscal year.
Insider Activity at Par Pacific
In related news, Director Timothy Clossey sold 10,970 shares of Par Pacific stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $84.00, for a total value of $921,480.00. Following the completion of the sale, 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 Securities & Exchange Commission, 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 stock was sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at $37,167,677.10. The trade was a 8.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 54,248 shares of company stock valued at $4,394,057 over the last ninety days. Insiders own 3.60% of the company’s stock.
Hedge Funds Weigh In On Par Pacific
Several hedge funds and other institutional investors have recently bought and sold shares of PARR. Signaturefd LLC boosted its holdings in shares of Par Pacific by 11.3% during the 3rd quarter. Signaturefd LLC now owns 2,448 shares of the company’s stock valued at $200,000 after acquiring an additional 249 shares during the last quarter. Carolina Wealth Advisors LLC bought a new stake in shares of Par Pacific in the third quarter worth approximately $43,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Par Pacific in the third quarter worth approximately $386,000. Sterling Capital Management LLC raised its holdings in shares of Par Pacific by 5.7% during the third quarter. Sterling Capital Management LLC now owns 8,388 shares of the company’s stock valued at $685,000 after purchasing an additional 450 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in shares of Par Pacific by 25.9% during 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 during the last quarter. Institutional investors 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.
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