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

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) gapped down before the market opened on Monday . The stock had previously closed at $61.39, but opened at $56.56. Par Pacific shares last traded at $58.8550, with a volume of 355,829 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PARR shares. Raymond James Financial reissued an “outperform” rating and issued a $50.00 target price on shares of Par Pacific in a report on Wednesday, February 25th. Zacks Research downgraded shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Mizuho upped their price target on shares of Par Pacific from $49.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. TD Cowen increased their price objective on shares of Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $51.00.

Par Pacific Price Performance

The firm has a 50 day moving average of $44.02 and a 200-day moving average of $40.52. The company has a current ratio of 1.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54. The company has a market cap of $3.05 billion, a P/E ratio of 8.46 and a beta of 1.17.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.04). Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company earned ($0.79) earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities research analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling at Par Pacific

In related news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the completion of the transaction, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Encompass Capital Advisors LLC bought a new stake in shares of Par Pacific in the second quarter worth about $34,609,000. Vanguard Group Inc. boosted its stake in Par Pacific by 30.9% during the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock valued at $178,680,000 after buying an additional 1,190,088 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Par Pacific by 89.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after buying an additional 681,190 shares during the last quarter. SG Americas Securities LLC grew its holdings in Par Pacific by 7,787.1% during the 4th quarter. SG Americas Securities LLC now owns 563,930 shares of the company’s stock valued at $19,816,000 after buying an additional 556,780 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Par Pacific by 42.8% in the 3rd quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock worth $53,923,000 after acquiring an additional 456,473 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

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.