Par Pacific (NYSE:PARR) Shares Down 4% – Should You Sell?

Par Pacific Holdings, Inc. (NYSE:PARR) dropped 4% during trading on Monday . The company traded as low as $36.59 and last traded at $36.2630. Approximately 491,668 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,369,155 shares. The stock had previously closed at $37.77.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PARR. Zacks Research downgraded shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group lifted their target price on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Tudor, Pickering, Holt & Co. upgraded Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Piper Sandler raised their price target on Par Pacific from $44.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $45.00 price objective (up from $38.00) on shares of Par Pacific in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.14.

Par Pacific Price Performance

The company has a 50 day moving average of $41.18 and a 200 day moving average of $34.80. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.48 and a current ratio of 1.51. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 7.69 and a beta of 1.25.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a return on equity of 23.69% and a net margin of 3.15%.The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the company earned ($0.10) EPS. Par Pacific’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In other Par Pacific news, CEO William Monteleone sold 99,284 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the completion of the transaction, the chief executive officer owned 423,022 shares in the company, valued at $18,253,399.30. The trade was a 19.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Richard Creamer sold 15,848 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $41.22, for a total transaction of $653,254.56. Following the completion of the sale, the executive vice president directly owned 54,654 shares in the company, valued at approximately $2,252,837.88. This represents a 22.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.40% of the stock is owned by insiders.

Institutional Trading of Par Pacific

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its holdings in shares of Par Pacific by 175.9% in the second quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock valued at $31,000 after acquiring an additional 753 shares during the period. Parallel Advisors LLC raised its position in Par Pacific by 232.9% in the second quarter. Parallel Advisors LLC now owns 1,325 shares of the company’s stock worth $35,000 after acquiring an additional 927 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Par Pacific by 157.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock valued at $42,000 after purchasing an additional 976 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Par Pacific during the 3rd quarter valued at approximately $44,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Par Pacific during the third quarter worth $48,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

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 O?ahu, 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.