Par Pacific (NYSE:PARR) Shares Down 5.4% - Should You Sell?

Key Points

• Par Pacific Holdings saw its stock price decline by 5.4%, trading as low as $34.08, as it experienced a significant drop in trading volume.
• Analysts have mixed views on the company's stock, with Zacks downgrading it to a "hold" rating, while other firms like Piper Sandler have raised their target price to $44.00.
• Insiders have sold a total of 25,954 shares in the last 90 days, indicating a decrease in their ownership, as insiders now hold 4.40% of the stock.

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s stock price traded down 5.4% during mid-day trading on Monday . The company traded as low as $34.08 and last traded at $35.18. 456,166 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,429,217 shares. The stock had previously closed at $37.17.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Zacks Research downgraded Par Pacific from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 22nd. TD Cowen dropped their target price on Par Pacific from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Piper Sandler boosted their target price on Par Pacific from $39.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. UBS Group boosted their target price on Par Pacific from $23.00 to $37.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 23rd. Finally, Raymond James Financial boosted their target price on Par Pacific from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 9th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.86.

Par Pacific Stock Performance

The firm has a market capitalization of $1.79 billion, a P/E ratio of -125.71 and a beta of 1.82. The company's 50 day moving average is $32.49 and its 200-day moving average is $24.61. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97.

Par Pacific (NYSE:PARR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) 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 business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. Par Pacific's revenue was down 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In other news, CAO Ivan Daniel Guerra sold 5,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total value of $193,105.00. Following the completion of the sale, the chief accounting officer owned 17,491 shares in the company, valued at $614,109.01. This represents a 23.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $34.55, for a total transaction of $180,627.40. Following the sale, the insider owned 24,679 shares of the company's stock, valued at $852,659.45. This trade represents a 17.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,954 shares of company stock valued at $863,048 over the last 90 days. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Par Pacific

A number of hedge funds have recently modified their holdings of PARR. Ethic Inc. lifted its stake in Par Pacific by 1.9% during the 2nd quarter. Ethic Inc. now owns 21,801 shares of the company's stock valued at $580,000 after acquiring an additional 396 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Par Pacific by 17.4% in the second quarter. Public Employees Retirement System of Ohio now owns 2,882 shares of the company's stock worth $76,000 after purchasing an additional 428 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Par Pacific by 175.9% during the second quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company's stock valued at $31,000 after buying an additional 753 shares during the period. First Pacific Advisors LP grew its stake in Par Pacific by 1.1% in the second quarter. First Pacific Advisors LP now owns 72,632 shares of the company's stock valued at $1,927,000 after purchasing an additional 820 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Par Pacific by 7.1% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 12,337 shares of the company's stock worth $327,000 after purchasing an additional 820 shares during the period. Institutional investors own 92.15% of the company's stock.

Par Pacific Company Profile

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.

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