Par Pacific (NYSE:PARR) Shares Down 5.1% - Should You Sell?

Key Points

• Par Pacific shares fell 5.1% to about $78.92 in low-volume trading, below the analyst consensus target price of $90.43.
• Analysts maintain a generally positive outlook, with one Strong Buy, eight Buy, and four Hold ratings; the average rating is Moderate Buy.
• The company reported strong quarterly results, including $10.10 EPS versus an $8.22 estimate and 56.8% year-over-year revenue growth, although insiders sold approximately $4.4 million of stock over the past 90 days.

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) were down 5.1% during trading on Tuesday. The company traded as low as $78.36 and last traded at $78.9150. Approximately 75,619 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 1,133,728 shares. The stock had previously closed at $83.17.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of Par Pacific from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Benchmark reiterated a "buy" rating on shares of Par Pacific in a report on Wednesday, July 8th. Piper Sandler initiated coverage on Par Pacific in a research report on Tuesday. They issued a "neutral" rating and a $94.00 price objective on the stock. UBS Group restated a "neutral" rating on shares of Par Pacific in a research note on Wednesday, August 26th. Finally, Mizuho set a $91.00 target price on Par Pacific and gave the stock a "neutral" rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Par Pacific currently has an average rating of "Moderate Buy" and a consensus target price of $90.43.

Par Pacific Price Performance

The business's 50 day moving average price is $81.64 and its 200-day moving average price is $63.18. The company has a quick ratio of 0.76, a current ratio of 1.84 and a debt-to-equity ratio of 0.38. The company has a market cap of $3.85 billion, a PE ratio of 4.48 and a beta of 0.75.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, beating analysts' consensus estimates of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the business earned $1.54 EPS. The business's revenue was up 56.8% on a year-over-year basis. As a group, analysts forecast that Par Pacific Holdings, Inc. will post 26.88 earnings per share for the current year.

Insider Buying and Selling at Par Pacific

In other news, insider Danielle Mattiussi sold 3,278 shares of Par Pacific stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $67.29, for a total transaction of $220,576.62. Following the sale, the insider directly owned 27,878 shares of the company's stock, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy Clossey sold 10,970 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $84.00, for a total value of $921,480.00. Following the completion of the transaction, the director owned 51,526 shares in the company, valued at approximately $4,328,184. This trade represents a 17.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,248 shares of company stock valued at $4,394,057 in the last ninety days. Insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Par Pacific

Hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new position in shares of Par Pacific in the 1st quarter valued at approximately $26,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Par Pacific during the third quarter worth approximately $43,000. EverSource Wealth Advisors LLC increased its stake in shares of Par Pacific by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company's stock worth $45,000 after buying an additional 173 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Par Pacific in the third quarter worth $45,000. Finally, Fortitude Family Office LLC increased its stake in shares of Par Pacific by 498.1% in the third quarter. Fortitude Family Office LLC now owns 616 shares of the company's stock worth $50,000 after buying an additional 513 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

About Par Pacific

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.

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