Par Pacific (NYSE:PARR) Director Timothy Clossey Sells 2,000 Shares

Key Points

• Timothy Clossey, a director at Par Pacific, sold 2,000 shares for $66,740, reducing his stake by 2.33% to 84,000 shares.
• Par Pacific reported $1.54 earnings per share for its last quarter, significantly surpassing the consensus estimate of $0.74, though revenue showed a 6.2% year-over-year decline.
• Brokerages have a mostly positive outlook on Par Pacific, with a consensus rating of "Moderate Buy" and average target price around $30.68, despite some price target adjustments.

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) Director Timothy Clossey sold 2,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $33.37, for a total transaction of $66,740.00. Following the transaction, the director owned 84,000 shares of the company's stock, valued at $2,803,080. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Par Pacific Price Performance

Shares of Par Pacific stock traded down $0.69 during trading hours on Friday, reaching $34.94. The stock had a trading volume of 2,816,251 shares, compared to its average volume of 1,593,705. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $36.39. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. The stock's 50 day moving average is $32.11 and its 200 day moving average is $23.70. The firm has a market capitalization of $1.78 billion, a PE ratio of -124.78 and a beta of 1.82.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The company's revenue for the quarter was down 6.2% on a year-over-year basis. Equities analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a report on Wednesday, May 28th. Mizuho boosted their price target on shares of Par Pacific from $34.00 to $40.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. TD Cowen dropped their price objective on shares of Par Pacific from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Zacks Research upgraded shares of Par Pacific to a "strong-buy" rating in a research note on Monday, August 11th. Finally, Cowen reiterated a "buy" rating on shares of Par Pacific in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $30.68.

Institutional Trading of Par Pacific

Several hedge funds have recently bought and sold shares of PARR. Farther Finance Advisors LLC boosted its holdings in shares of Par Pacific by 175.9% in the second quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company's stock valued at $31,000 after acquiring an additional 753 shares in the last quarter. Signaturefd LLC increased its position in shares of Par Pacific by 70.2% in the first quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after acquiring an additional 986 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Par Pacific in the first quarter worth approximately $35,000. Parallel Advisors LLC grew its position in Par Pacific by 232.9% during the second quarter. Parallel Advisors LLC now owns 1,325 shares of the company's stock valued at $35,000 after purchasing an additional 927 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Par Pacific by 157.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company's stock valued at $42,000 after purchasing an additional 976 shares in the last quarter. 92.15% of the stock is currently owned by 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.