Par Pacific (NYSE:PARR) CEO Sells $5,889,728.88 in Stock
by Danessa Lincoln · The Markets DailyPar Pacific Holdings, Inc. (NYSE:PARR – Get Free Report) CEO William Monteleone sold 108,948 shares of Par Pacific stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This represents a 19.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Par Pacific Price Performance
NYSE:PARR opened at $58.04 on Friday. Par Pacific Holdings, Inc. has a 12-month low of $12.04 and a 12-month high of $60.13. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 7.96 and a beta of 1.17. The company’s 50-day moving average is $42.64 and its two-hundred day moving average is $39.91. The company has a current ratio of 1.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54.
Par Pacific (NYSE:PARR – Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.79) earnings per share. Research analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts have recently commented on PARR shares. Mizuho lifted their price objective on Par Pacific from $49.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday. Piper Sandler set a $57.00 price target on Par Pacific in a report on Monday, January 12th. Zacks Research downgraded shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Raymond James Financial reiterated an “outperform” rating and set a $50.00 price objective on shares of Par Pacific in a report on Wednesday, February 25th. Finally, TD Cowen raised their target price on shares of Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $51.00.
Get Our Latest Analysis on PARR
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Par Pacific by 23.9% during the first quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock worth $334,000 after acquiring an additional 4,525 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Par Pacific by 118.2% in the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after purchasing an additional 89,023 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Par Pacific by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock valued at $461,000 after purchasing an additional 1,427 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Par Pacific by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock worth $2,085,000 after purchasing an additional 6,618 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of Par Pacific by 352.7% during the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after purchasing an additional 211,002 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.
About Par Pacific
Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.
In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.