Insider Selling: Par Pacific (NYSE:PARR) SVP Sells 5,164 Shares of Stock

Key Points

• Terrill Pitkin, Senior Vice President of Par Pacific Holdings, Inc., sold 5,164 shares at an average price of $27.97, resulting in a total transaction of approximately $144,437.
• Par Pacific's recent earnings report showed an EPS of $1.54, significantly exceeding analysts' estimates, despite a 6.2% year-over-year decline in revenue.
• Institutional investors hold 92.15% of Par Pacific’s stock, indicating strong institutional support and interest in the company.

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) SVP Terrill Pitkin sold 5,164 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $27.97, for a total transaction of $144,437.08. Following the sale, the senior vice president owned 41,223 shares of the company's stock, valued at $1,153,007.31. This trade represents a 11.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Par Pacific Stock Performance

Shares of PARR traded up $0.1350 during mid-day trading on Tuesday, hitting $30.1150. 304,052 shares of the company's stock were exchanged, compared to its average volume of 1,377,329. Par Pacific Holdings, Inc. has a 52 week low of $11.86 and a 52 week high of $35.32. The stock's 50-day simple moving average is $29.48 and its 200-day simple moving average is $20.72. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -107.54 and a beta of 1.83. 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 announced its earnings results on Tuesday, August 5th. The company reported $1.54 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 company had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same period last year, the firm earned $0.49 earnings per share. The business's revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

PARR has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a research note on Wednesday, May 28th. Wall Street Zen cut shares of Par Pacific from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Cowen reissued a "buy" rating on shares of Par Pacific in a research note on Thursday, August 7th. TD Cowen decreased 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. Finally, Raymond James Financial set a $38.00 price objective on shares of Par Pacific and gave the company an "outperform" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Par Pacific presently has an average rating of "Moderate Buy" and a consensus price target of $28.96.

Institutional Trading of Par Pacific

A number of hedge funds have recently added to or reduced their stakes in PARR. Encompass Capital Advisors LLC acquired a new position in shares of Par Pacific during the second quarter worth $34,609,000. FJ Investments LLC acquired a new position in shares of Par Pacific during the second quarter worth $26,294,000. Nuveen LLC acquired a new position in shares of Par Pacific during the first quarter worth $12,750,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Par Pacific by 89.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company's stock worth $38,168,000 after purchasing an additional 681,190 shares during the period. Finally, Solas Capital Management LLC lifted its holdings in shares of Par Pacific by 417.7% during the fourth quarter. Solas Capital Management LLC now owns 795,000 shares of the company's stock worth $13,030,000 after purchasing an additional 641,423 shares during the period. Institutional investors and hedge funds own 92.15% of the company's stock.

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.