William Pate Sells 67,700 Shares of Par Pacific Holdings, Inc. (NYSE:PARR) Stock

Par Pacific Holdings, Inc. (NYSE:PARR) Director William Pate sold 67,700 shares of Par Pacific stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the transaction, the director now directly owns 524,610 shares in the company, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Par Pacific Price Performance

PARR opened at $16.46 on Friday. The company has a market capitalization of $920.97 million, a price-to-earnings ratio of 3.19 and a beta of 1.99. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average price of $16.99 and a 200-day moving average price of $20.83. Par Pacific Holdings, Inc. has a twelve month low of $14.84 and a twelve month high of $40.69.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. Par Pacific’s revenue was down 16.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.15 EPS. Equities analysts expect that Par Pacific Holdings, Inc. will post 0.83 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho reduced their price objective on Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group reduced their price target on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, UBS Group lowered their price target on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Par Pacific currently has an average rating of “Hold” and a consensus price target of $28.00.

Hedge Funds Weigh In On Par Pacific

Several hedge funds have recently made changes to their positions in PARR. Pacer Advisors Inc. purchased a new stake in Par Pacific during the 3rd quarter worth about $61,870,000. Millennium Management LLC increased its position in shares of Par Pacific by 48.4% during the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock valued at $49,307,000 after buying an additional 636,908 shares during the period. State Street Corp lifted its holdings in shares of Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after buying an additional 328,325 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Par Pacific by 160.2% in the third quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after buying an additional 315,967 shares in the last quarter. Finally, Walleye Capital LLC boosted its position in shares of Par Pacific by 1,014.3% in the third quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock valued at $4,820,000 after acquiring an additional 249,290 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Company Profile

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.