Timothy Clossey Sells 10,970 Shares of Par Pacific (NYSE:PARR) Stock

Par Pacific Holdings, Inc. (NYSE:PARR) Director Timothy Clossey sold 10,970 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $84.00, for a total transaction of $921,480.00. Following the completion of the sale, the director directly owned 51,526 shares of the company’s stock, valued at approximately $4,328,184. The trade was a 17.55% 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

PARR traded up $0.97 during midday trading on Friday, hitting $84.56. 495,990 shares of the company traded hands, compared to its average volume of 1,177,749. The business has a 50 day simple moving average of $76.38 and a two-hundred day simple moving average of $63.97. Par Pacific Holdings, Inc. has a 52-week low of $32.24 and a 52-week high of $87.03. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 4.93 and a beta of 0.77. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, topping the consensus estimate of $8.22 by $1.88. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. On average, equities analysts forecast that Par Pacific Holdings, Inc. will post 21.33 earnings per share for the current fiscal year.

Trending Headlines about Par Pacific

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

• Positive Sentiment: Favorable refining market: Tight refining capacity, low fuel inventories and resilient demand are supporting elevated fuel margins and have helped PARR and other refiners gain more than 50% over the past six months. Oil Prices are High, But These 2 Refining Stocks are Still Crushing It
• Positive Sentiment: Strong momentum and valuation support: PARR’s roughly 148% one-year gain is backed by its ability to process a flexible crude mix and capture strong refining margins. Its approximately 3.50x enterprise-value-to-EBITDA multiple is below the industry average, suggesting potential relative value despite the rally. Par Pacific Surges 148% in a Year: Should You Bet on the Momentum?
• Positive Sentiment: Diversified operating platform: The company’s combination of refining, fuel marketing and logistics operations provides multiple earnings sources. Constrained industry capacity and elevated crack spreads are supporting profitability. PARR’s latest quarterly results also showed earnings and revenue well above estimates, reinforcing investor confidence. Can Par Pacific’s Diversified Downstream Platform Drive Growth?
• Neutral Sentiment: Analyst backdrop: Coverage is generally constructive, with a consensus rating around “Buy,” although some analysts remain neutral and the average price target may not fully reflect the recent advance.
• Negative Sentiment: CEO insider sale: Chief Executive Officer William Monteleone sold 40,000 shares for approximately $3.25 million, reducing his direct holdings by 8.05%. The transaction was disclosed in an SEC filing; while it may be personal or routine, insider selling can weigh modestly on sentiment after a sharp stock increase. Insider Selling: Par Pacific CEO Sells Stock

Institutional Investors Weigh In On Par Pacific

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on PARR shares. The Goldman Sachs Group raised their target price on Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Benchmark reissued a “buy” rating on shares of Par Pacific in a research note on Wednesday, July 8th. Guggenheim raised shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings raised shares of Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $81.57.

Par Pacific Company Profile

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.