Par Pacific (NYSE:PARR) Shares Gap Down to $30.33

Par Pacific Holdings, Inc. (NYSE:PARR) gapped down prior to trading on Tuesday . The stock had previously closed at $30.33, but opened at $29.11. Par Pacific shares last traded at $30.04, with a volume of 95,797 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PARR. StockNews.com cut shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Piper Sandler increased their price target on shares of Par Pacific from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th.

Par Pacific Stock Performance

The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 2.55 and a beta of 1.98. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average is $35.57 and its two-hundred day moving average is $35.22.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, February 27th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). Par Pacific had a return on equity of 47.63% and a net margin of 8.85%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.45 billion. Analysts anticipate that Par Pacific Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Insider Transactions at Par Pacific

In other news, insider Jeffrey Ryan Hollis sold 4,700 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $37.39, for a total value of $175,733.00. Following the completion of the sale, the insider now owns 13,176 shares in the company, valued at approximately $492,650.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Par Pacific news, CAO Ivan Daniel Guerra sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $37.49, for a total transaction of $224,940.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,200 shares in the company, valued at approximately $607,338. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Ryan Hollis sold 4,700 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $37.39, for a total transaction of $175,733.00. Following the transaction, the insider now owns 13,176 shares of the company’s stock, valued at $492,650.64. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently modified their holdings of PARR. Hennessy Advisors Inc. purchased a new stake in shares of Par Pacific during the fourth quarter worth about $26,128,000. Goldman Sachs Group Inc. grew its holdings in Par Pacific by 28.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,227,239 shares of the company’s stock valued at $44,635,000 after purchasing an additional 268,219 shares during the period. Thomist Capital Management LP grew its holdings in Par Pacific by 176.2% in the first quarter. Thomist Capital Management LP now owns 372,866 shares of the company’s stock valued at $13,818,000 after purchasing an additional 237,844 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Par Pacific by 14.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,243,068 shares of the company’s stock valued at $44,676,000 after purchasing an additional 154,571 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Par Pacific in the third quarter valued at approximately $5,295,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

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.