Stock Traders Purchase Large Volume of Par Pacific Call Options (NYSE:PARR)

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) was the target of some unusual options trading on Thursday. Investors purchased 3,222 call options on the company. This represents an increase of 4,254% compared to the average volume of 74 call options.

Par Pacific Trading Up 1.3%

Shares of Par Pacific stock traded up $0.30 during trading hours on Tuesday, hitting $22.20. The company's stock had a trading volume of 279,302 shares, compared to its average volume of 1,368,542. Par Pacific has a twelve month low of $11.86 and a twelve month high of $27.82. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The firm has a fifty day moving average of $15.56 and a 200-day moving average of $16.00. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 4.30 and a beta of 1.50.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.54). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the company earned $0.69 EPS. The business's quarterly revenue was down 11.9% compared to the same quarter last year. Research analysts forecast that Par Pacific will post 0.15 EPS for the current year.

Institutional Trading of Par Pacific

A number of institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in shares of Par Pacific by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company's stock worth $28,000 after purchasing an additional 1,528 shares during the last quarter. US Bancorp DE increased its position in Par Pacific by 55.7% during the 4th quarter. US Bancorp DE now owns 1,823 shares of the company's stock worth $30,000 after purchasing an additional 652 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock valued at $34,000 after acquiring an additional 986 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Par Pacific in the first quarter worth about $35,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Par Pacific by 37.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company's stock valued at $42,000 after purchasing an additional 700 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PARR has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Piper Sandler increased their price objective on Par Pacific from $21.00 to $26.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. The Goldman Sachs Group upgraded Par Pacific from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $18.00 to $19.00 in a research note on Thursday, March 27th. TD Cowen lowered their price objective on shares of Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Wall Street Zen downgraded shares of Par Pacific from a "hold" rating to a "sell" rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $21.25.

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.