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

Key Points

• CEO William Monteleone sold 40,000 Par Pacific shares at an average price of $81.30, generating $3.25 million. He continues to own 457,167 shares, worth approximately $37.2 million.
• Par Pacific reported strong quarterly results, with EPS of $10.10 versus the $8.22 consensus estimate and revenue of $2.97 billion, up 56.8% year over year.
• Analysts maintain a favorable outlook, with the stock carrying a consensus “Buy” rating and an average price target of $81.57; institutional investors own 92.15% of outstanding shares.

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) CEO William Monteleone sold 40,000 shares of the business's 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Par Pacific Stock 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 company has a 50-day simple moving average of $75.88 and a 200 day simple 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 company has a market capitalization of $4.18 billion, a PE ratio of 4.86 and a beta of 0.77.

Par Pacific (NYSE:PARR - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, beating analysts' consensus estimates of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The firm had revenue of $2.97 billion for the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the previous year, the company earned $1.54 earnings per share. The company's quarterly revenue was up 56.8% on a year-over-year basis. On average, research analysts predict that Par Pacific Holdings, Inc. will post 21.33 EPS for the current year.

Hedge Funds Weigh In On Par Pacific

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in Par Pacific by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company's stock worth $45,000 after purchasing an additional 173 shares in the last quarter. Natixis Advisors LLC grew its holdings in Par Pacific by 2.8% during the 4th quarter. Natixis Advisors LLC now owns 11,102 shares of the company's stock valued at $390,000 after buying an additional 299 shares in the last quarter. Birchbrook Inc. grew its holdings in Par Pacific by 12.8% during the 2nd quarter. Birchbrook Inc. now owns 3,385 shares of the company's stock valued at $190,000 after buying an additional 385 shares in the last quarter. Amundi increased its position in shares of Par Pacific by 3.6% during the third quarter. Amundi now owns 11,013 shares of the company's stock valued at $388,000 after buying an additional 386 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in shares of Par Pacific during the first quarter valued at about $26,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PARR. Wall Street Zen raised Par Pacific from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 17th. The Goldman Sachs Group lifted their price objective on Par Pacific from $77.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. UBS Group restated a "neutral" rating on shares of Par Pacific in a research note on Wednesday, August 26th. Mizuho upped their price objective on shares of Par Pacific from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Finally, Evercore upgraded shares of Par Pacific to an "outperform" rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $81.57.

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 Oʻahu, 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.

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