Key Points
- CEO William Monteleone sold 99,284 shares on Nov. 21 at an average of $43.15 for about $4.28 million, cutting his stake by 19.01% to 423,022 shares (≈$18.25M).
- Par Pacific beat expectations with $5.95 EPS (vs. $1.98 estimate) and $2.01B revenue for the quarter, but still reported a negative net margin (-0.25%) and negative return on equity, and a negative P/E.
- Institutional ownership is very high (~92%), with major funds (Vanguard, Dimensional, Arrowstreet, American Century) increasing positions, while analysts' consensus is a "Moderate Buy" with an average price target of $41.57.
Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) CEO William Monteleone sold 99,284 shares of the firm's stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the completion of the transaction, the chief executive officer directly owned 423,022 shares of the company's stock, valued at approximately $18,253,399.30. This trade represents a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Par Pacific Price Performance
Par Pacific stock opened at $45.20 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. Par Pacific Holdings, Inc. has a one year low of $11.86 and a one year high of $48.40. The firm has a market capitalization of $2.27 billion, a P/E ratio of -161.42 and a beta of 1.74. The business has a fifty day moving average price of $39.30 and a 200-day moving average price of $32.42.
Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results 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 during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm earned ($0.10) EPS. The company's quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. UBS Group raised their price target on shares of Par Pacific from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Wednesday, November 5th. TD Cowen dropped their price objective on Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Raymond James Financial restated an "outperform" rating and issued a $45.00 target price (up from $38.00) on shares of Par Pacific in a research note on Friday, October 17th. Tudor Pickering raised Par Pacific from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group boosted their price objective on Par Pacific from $34.00 to $40.00 and gave the stock a "neutral" rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Par Pacific has an average rating of "Moderate Buy" and an average price target of $41.57.
Check Out Our Latest Stock Report on PARR
Hedge Funds Weigh In On Par Pacific
A number of large investors have recently modified their holdings of PARR. Vanguard Group Inc. lifted its position in Par Pacific by 30.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company's stock worth $178,680,000 after buying an additional 1,190,088 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Par Pacific by 6.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,767,341 shares of the company's stock worth $62,601,000 after acquiring an additional 109,705 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Par Pacific by 22.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company's stock worth $62,203,000 after acquiring an additional 317,484 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Par Pacific by 42.8% in the 3rd quarter. American Century Companies Inc. now owns 1,522,392 shares of the company's stock valued at $53,923,000 after purchasing an additional 456,473 shares in the last quarter. Finally, Encompass Capital Advisors LLC bought a new position in shares of Par Pacific during the 2nd quarter valued at $34,609,000. 92.15% of the stock is owned by hedge funds and other institutional investors.
About Par Pacific
(
Get Free Report)
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.
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