Par Pacific (NYSE:PARR) Shares Gap Down to $30.33

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $30.33, but opened at $29.11. Par Pacific shares last traded at $30.04, with a volume of 95,797 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PARR. Piper Sandler raised their price objective on shares of Par Pacific from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. StockNews.com downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, March 4th.

Par Pacific Stock Down 0.7 %

The stock has a market capitalization of $1.79 billion, a P/E ratio of 2.55 and a beta of 1.98. The firm’s fifty day moving average is $35.57 and its 200-day moving average is $35.22. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.49.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). Par Pacific had a net margin of 8.85% and a return on equity of 47.63%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.45 billion. As a group, equities research analysts predict that Par Pacific Holdings, Inc. will post 4.56 earnings per share for the current year.

Insiders Place Their Bets

In other Par Pacific news, insider Jeffrey Ryan Hollis sold 4,700 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $37.39, for a total value of $175,733.00. Following the completion of the transaction, the insider now directly owns 13,176 shares of the company’s stock, valued at $492,650.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Par Pacific news, insider Jeffrey Ryan Hollis sold 4,700 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $37.39, for a total value of $175,733.00. Following the completion of the transaction, the insider now directly owns 13,176 shares of the company’s stock, valued at $492,650.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ivan Daniel Guerra sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $37.49, for a total transaction of $224,940.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,200 shares of the company’s stock, valued at $607,338. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Institutional investors have recently modified their holdings of the business. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Par Pacific during the 4th quarter worth approximately $30,000. Quadrant Capital Group LLC grew its position in shares of Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after buying an additional 458 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Par Pacific during the 3rd quarter worth approximately $40,000. CIBC Asset Management Inc acquired a new stake in shares of Par Pacific during the 3rd quarter worth approximately $214,000. Finally, Navellier & Associates Inc. acquired a new stake in shares of Par Pacific during the 4th quarter worth approximately $221,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.