William Monteleone Sells 40,000 Shares of Par Pacific (NYSE:PARR) Stock

Par Pacific Holdings, Inc. (NYSE:PARR) CEO William Monteleone sold 40,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total transaction of $3,252,000.00. Following the completion of the sale, the chief executive officer directly owned 457,167 shares in the company, valued at approximately $37,167,677.10. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Par Pacific Trading Up 1.2%

PARR opened at $84.56 on Friday. Par Pacific Holdings, Inc. has a twelve month low of $32.24 and a twelve month high of $87.03. The company has a fifty day moving average of $76.90 and a 200-day moving average of $64.11. The stock has a market cap of $4.24 billion, a PE ratio of 4.93 and a beta of 0.77. The company has a quick ratio of 0.76, a current ratio of 1.84 and a debt-to-equity ratio of 0.38.

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, beating the consensus estimate of $8.22 by $1.88. The business had revenue of $2.97 billion for 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%. Par Pacific’s revenue for the quarter was up 56.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share. On average, sell-side analysts predict that Par Pacific Holdings, Inc. will post 21.33 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in Par Pacific by 23.9% in the first quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock valued at $334,000 after acquiring an additional 4,525 shares during the period. AQR Capital Management LLC raised its position in shares of Par Pacific by 118.2% during the first quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after purchasing an additional 89,023 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Par Pacific by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after purchasing an additional 1,427 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Par Pacific by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock worth $2,085,000 after purchasing an additional 6,618 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Par Pacific by 352.7% in the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock valued at $3,862,000 after purchasing an additional 211,002 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Par Pacific

Here are the key news stories impacting Par Pacific this week:

• Positive Sentiment: Refining market remains supportive: Tight refining capacity, low fuel inventories and firm demand are supporting elevated crack spreads and margins. PARR and other refiners have gained more than 50% over the past six months. Oil Prices are High, But These 2 Refining Stocks are Still Crushing It
• Positive Sentiment: Strong operating results and valuation: Par Pacific’s flexible crude slate and diversified refining, retail and logistics platform are viewed as supporting earnings. The company’s latest quarterly EPS of $10.10 exceeded estimates by $1.88, while revenue rose 56.8% year over year to $2.97 billion. A reported 3.50x EV/EBITDA multiple is below the industry average. Par Pacific Surges 148% in a Year
• Positive Sentiment: Analyst outlook is broadly favorable: The stock carries an overall “Buy” rating, with most covering analysts recommending Buy or Strong Buy. Recent positive commentary emphasizes the company’s downstream diversification and ability to benefit from constrained industry capacity. Can Par Pacific’s Diversified Downstream Platform Drive Growth?

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PARR shares. Evercore upgraded Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Weiss Ratings raised Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. Raymond James Financial raised their price objective on shares of Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Finally, TD Cowen lowered their price objective on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Par Pacific presently has an average rating of “Buy” and an average target price of $81.57.

About Par Pacific

Par Pacific Holdings, Inc (NYSE:PARR) is an energy company engaged in refining, logistics and retail operations. The company processes crude oil into transportation fuels and other refined products, including gasoline, diesel, jet fuel and asphalt, which it sells through wholesale and retail channels.

Par Pacific operates refining and fuel-distribution assets serving markets in Hawaii and the western United States, including the Rocky Mountain region. Its logistics operations include fuel terminals, pipelines, storage facilities and related infrastructure used to transport and distribute crude oil and refined petroleum products.

The company also operates retail fuel stations and convenience stores under various brand names, primarily in Hawaii and other western markets.