Key Points
- Insider sale: Danielle Mattiussi sold 3,278 Par Pacific shares for approximately $220,577, reducing her direct holdings by 10.52% to 27,878 shares.
- Strong quarterly results: Par Pacific reported adjusted earnings of $10.10 per share, beating estimates by $1.88, while revenue rose 56.8% year over year to $2.97 billion.
- Investor and analyst sentiment: Institutional investors own 92.15% of the company, and analysts maintain a “Moderate Buy” consensus with an average price target of $81.57.
Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) insider Danielle Mattiussi sold 3,278 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the sale, the insider directly owned 27,878 shares in the company, valued at $1,875,910.62. This trade represents a 10.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Par Pacific Stock Performance
Shares of Par Pacific stock opened at $75.44 on Wednesday. The business has a 50-day moving average price of $65.44 and a two-hundred day moving average price of $57.85. Par Pacific Holdings, Inc. has a 1-year low of $27.42 and a 1-year high of $87.03. 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 company has a market cap of $3.78 billion, a P/E ratio of 4.40 and a beta of 0.78.
Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.22 by $1.88. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $1.54 EPS. The firm's revenue was up 56.8% compared to the same quarter last year. As a group, analysts anticipate that Par Pacific Holdings, Inc. will post 19.35 EPS for the current year.
Institutional Investors Weigh In On Par Pacific
A number of hedge funds have recently added to or reduced their stakes in PARR. Dimensional Fund Advisors LP raised its position in shares of Par Pacific by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company's stock worth $62,363,000 after purchasing an additional 7,280 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Par Pacific by 0.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,771,793 shares of the company's stock valued at $110,985,000 after purchasing an additional 6,162 shares during the period. Geode Capital Management LLC increased its stake in Par Pacific by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,222,100 shares of the company's stock valued at $42,954,000 after purchasing an additional 21,254 shares in the last quarter. Renaissance Technologies LLC increased its stake in Par Pacific by 13.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,008,964 shares of the company's stock valued at $35,455,000 after purchasing an additional 117,200 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Par Pacific by 36.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 947,686 shares of the company's stock valued at $33,302,000 after purchasing an additional 255,173 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.
Analyst Ratings Changes
Several brokerages have issued reports on PARR. The Goldman Sachs Group boosted their price target on Par Pacific from $77.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Zacks Research downgraded shares of Par Pacific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Mizuho increased their target price on shares of Par Pacific from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday. UBS Group raised their price target on shares of Par Pacific from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Finally, Guggenheim raised shares of Par Pacific to an "outperform" rating in a research note on Wednesday, May 27th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.57.
View Our Latest Stock Analysis on Par Pacific
About Par Pacific
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
