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 stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the sale, the chief executive officer owned 457,167 shares in the company, valued at $37,167,677.10. This trade represents a 8.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Par Pacific Price Performance

NYSE:PARR opened at $83.34 on Thursday. Par Pacific Holdings, Inc. has a 52-week low of $32.24 and a 52-week high of $87.03. The stock has a fifty day moving average of $75.88 and a 200 day moving average of $63.68. 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 $4.18 billion, a price-to-earnings ratio of 4.86 and a beta of 0.77.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 56.19% and a net margin of 9.94%.The company’s quarterly revenue was up 56.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 EPS. On average, research analysts expect that Par Pacific Holdings, Inc. will post 21.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Mizuho upped 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 Tuesday, August 11th. Evercore upgraded shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. The Goldman Sachs Group boosted their price target on shares of Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. TD Cowen decreased their price target on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, UBS Group restated a “neutral” rating on shares of Par Pacific in a research report on Wednesday, August 26th. One equities 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. Based on data from MarketBeat, Par Pacific currently has an average rating of “Buy” and a consensus price target of $81.57.

Institutional Investors Weigh In On Par Pacific

A number of hedge funds have recently made changes to their positions in PARR. California State Teachers Retirement System grew its holdings in shares of Par Pacific by 5,095.4% during the 2nd quarter. California State Teachers Retirement System now owns 3,120,123 shares of the company’s stock valued at $174,976,000 after purchasing an additional 3,060,068 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Par Pacific by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company’s stock valued at $62,363,000 after buying an additional 7,280 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Par Pacific by 0.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,771,793 shares of the company’s stock valued at $110,985,000 after buying an additional 6,162 shares during the period. Geode Capital Management LLC grew its stake in shares of Par Pacific by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,222,100 shares of the company’s stock valued at $42,954,000 after buying an additional 21,254 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Par Pacific by 13.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,008,964 shares of the company’s stock valued at $35,455,000 after buying an additional 117,200 shares during the last quarter. 92.15% of the stock is currently owned by 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.