Par Pacific (NYSE:PARR) Shares Gap Up Following Analyst Upgrade

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s share price gapped up prior to trading on Friday after Piper Sandler raised their price target on the stock from $43.00 to $47.00. The stock had previously closed at $38.81, but opened at $39.73. Piper Sandler currently has an overweight rating on the stock. Par Pacific shares last traded at $39.28, with a volume of 99,975 shares trading hands.

Separately, StockNews.com lowered Par Pacific from a "buy" rating to a "hold" rating in a research note on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $36.75.

Insider Activity at Par Pacific

In other Par Pacific news, insider Jeffrey Ryan Hollis sold 4,700 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $37.39, for a total transaction of $175,733.00. Following the transaction, the insider now directly owns 13,176 shares in the company, valued at $492,650.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jeffrey Ryan Hollis sold 4,700 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $37.39, for a total transaction of $175,733.00. Following the sale, the insider now owns 13,176 shares of the company's stock, valued at $492,650.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ivan Daniel Guerra sold 6,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $37.49, for a total value of $224,940.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,200 shares in the company, valued at approximately $607,338. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Par Pacific

Hedge funds have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. purchased a new stake in Par Pacific in the 4th quarter worth approximately $30,000. Quadrant Capital Group LLC lifted its holdings in Par Pacific by 91.4% in the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company's stock worth $35,000 after buying an additional 458 shares in the last quarter. Quantbot Technologies LP acquired a new position in Par Pacific in the 3rd quarter worth $40,000. West Tower Group LLC acquired a new position in Par Pacific in the 2nd quarter worth $41,000. Finally, Paloma Partners Management Co acquired a new position in Par Pacific in the 4th quarter worth $41,000. Institutional investors and hedge funds own 92.15% of the company's stock.

Par Pacific Price Performance

The company's 50-day moving average price is $37.75 and its two-hundred day moving average price is $35.33. The company has a market cap of $2.34 billion, a P/E ratio of 3.30 and a beta of 1.95. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.49.

Par Pacific (NYSE:PARR - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.45 billion. Par Pacific had a return on equity of 47.63% and a net margin of 8.85%. As a group, sell-side analysts expect that Par Pacific Holdings, Inc. will post 5.15 earnings per share for the current year.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.