Danielle Mattiussi Sells 3,278 Shares of Par Pacific (NYSE:PARR) Stock

Par Pacific Holdings, Inc. (NYSE:PARR) insider Danielle Mattiussi sold 3,278 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.29, for a total value of $220,576.62. Following the sale, the insider owned 27,878 shares of the company’s stock, valued at $1,875,910.62. The trade was a 10.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Par Pacific Trading Up 3.6%

Shares of PARR stock opened at $78.18 on Thursday. The stock’s fifty day moving average is $65.86 and its two-hundred day moving average is $58.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.84. The firm has a market capitalization of $3.92 billion, a P/E ratio of 4.56 and a beta of 0.78. Par Pacific Holdings, Inc. has a fifty-two week low of $27.76 and a fifty-two week high of $87.03.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.22 by $1.88. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.40 billion. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The company’s revenue for the quarter was up 56.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 earnings per share. Research analysts expect that Par Pacific Holdings, Inc. will post 19.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PARR. Mizuho increased their price objective on shares of Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday. TD Cowen cut their price target on Par Pacific from $100.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 7th. Guggenheim upgraded Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Evercore raised Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Finally, Zacks Research cut Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

Institutional Trading of Par Pacific

Several institutional investors have recently made changes to their positions in PARR. C M Bidwell & Associates Ltd. acquired a new position in Par Pacific in the second quarter valued at approximately $66,000. Ninepoint Partners LP purchased a new stake in Par Pacific in the second quarter valued at $1,402,000. Bank of New York Mellon Corp acquired a new position in shares of Par Pacific in the 2nd quarter valued at $19,353,000. Birchbrook Inc. lifted its stake in shares of Par Pacific by 12.8% in the 2nd quarter. Birchbrook Inc. now owns 3,385 shares of the company’s stock valued at $190,000 after purchasing an additional 385 shares during the last quarter. Finally, GK Wealth Management LLC purchased a new position in shares of Par Pacific during the 2nd quarter worth $317,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

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.