Par Pacific (NYSE:PARR) Stock Price Down 3.3%

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s stock price dropped 3.3% on Tuesday . The company traded as low as $36.91 and last traded at $37.11. Approximately 139,013 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 849,270 shares. The stock had previously closed at $38.37.

Analyst Ratings Changes

PARR has been the topic of a number of analyst reports. Piper Sandler lifted their price target on Par Pacific from $43.00 to $47.00 and gave the stock an "overweight" rating in a research note on Friday. StockNews.com cut 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 assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $36.75.

Par Pacific Stock Performance

The business has a fifty day simple moving average of $37.78 and a 200-day simple moving average of $35.39. The company has a quick ratio of 0.54, a current ratio of 1.30 and a debt-to-equity ratio of 0.49. The firm has a market cap of $2.12 billion, a P/E ratio of 2.98 and a beta of 1.96.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.11 by ($0.03). The firm 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%. On average, sell-side analysts predict that Par Pacific Holdings, Inc. will post 5 EPS for the current fiscal year.

Insider Transactions at Par Pacific

In other news, insider Jeffrey Ryan Hollis sold 4,700 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $37.39, for a total value of $175,733.00. Following the sale, the insider now directly owns 13,176 shares of the company's stock, valued at $492,650.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Jeffrey Ryan Hollis sold 4,700 shares of the 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 directly owns 13,176 shares of the company's stock, valued at $492,650.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 sale, the chief accounting officer now directly owns 16,200 shares in the company, valued at $607,338. The disclosure for this sale can be found here. Insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Par Pacific

Several institutional investors have recently modified their holdings of PARR. JPMorgan Chase & Co. boosted its position in Par Pacific by 23.7% in the first quarter. JPMorgan Chase & Co. now owns 440,701 shares of the company's stock worth $5,738,000 after purchasing an additional 84,454 shares during the last quarter. Citigroup Inc. boosted its position in Par Pacific by 76.8% in the first quarter. Citigroup Inc. now owns 89,635 shares of the company's stock worth $1,166,000 after purchasing an additional 38,945 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Par Pacific by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 7,513 shares of the company's stock worth $98,000 after purchasing an additional 854 shares during the last quarter. MetLife Investment Management LLC boosted its position in Par Pacific by 53.1% in the first quarter. MetLife Investment Management LLC now owns 24,931 shares of the company's stock worth $325,000 after purchasing an additional 8,649 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Par Pacific by 9.7% in the first quarter. Rhumbline Advisers now owns 126,220 shares of the company's stock worth $1,643,000 after purchasing an additional 11,201 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.