Par Pacific (NYSE:PARR) Insider Sells 3,278 Shares of Stock

Key Points

• Insider Danielle Mattiussi sold 3,278 Par Pacific shares at an average price of $67.29, generating approximately $220,577. Following the sale, she retained 27,878 shares.
• Par Pacific reported quarterly EPS of $10.10, beating estimates of $8.22, while revenue rose 56.8% year over year to $2.97 billion.
• The stock opened at $71.60 and has gained 8.0%; analysts maintain a Moderate Buy consensus with an average price target of $80.86.

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) insider Danielle Mattiussi sold 3,278 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.29, for a total transaction of $220,576.62. Following the transaction, the insider owned 27,878 shares in the company, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Par Pacific Stock Up 8.0%

Shares of PARR opened at $71.60 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Par Pacific Holdings, Inc. has a 12 month low of $27.10 and a 12 month high of $87.03. The firm's 50 day moving average is $65.08 and its 200-day moving average is $57.59. The stock has a market capitalization of $3.59 billion, a PE ratio of 4.18 and a beta of 0.78.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.22 by $1.88. The business had revenue of $2.97 billion during the quarter, compared to analysts' expectations of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The firm's revenue for the quarter was up 56.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 earnings per share. Equities research analysts forecast that Par Pacific Holdings, Inc. will post 19.35 EPS for the current year.

Institutional Trading of Par Pacific

Large investors have recently bought and sold shares of the business. NewEdge Advisors LLC bought a new position in shares of Par Pacific in the first quarter worth about $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Par Pacific by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company's stock valued at $45,000 after purchasing an additional 173 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company's stock worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its stake in Par Pacific by 34.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company's stock valued at $65,000 after purchasing an additional 478 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Par Pacific by 385.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company's stock valued at $69,000 after purchasing an additional 1,558 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Zacks Research downgraded Par Pacific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Par Pacific from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 17th. Raymond James Financial boosted their price target on Par Pacific from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Guggenheim raised shares of Par Pacific to an "outperform" rating in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group increased their price objective on shares of Par Pacific from $77.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $80.86.

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 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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