Timothy Clossey Sells 10,970 Shares of Par Pacific (NYSE:PARR) Stock

Par Pacific Holdings, Inc. (NYSE:PARR) Director Timothy Clossey sold 10,970 shares of Par Pacific stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total transaction of $921,480.00. Following the sale, the director directly owned 51,526 shares in the company, valued at approximately $4,328,184. The trade was a 17.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Par Pacific Trading Up 1.2%

Par Pacific stock traded up $0.97 during mid-day trading on Friday, hitting $84.56. The company’s stock had a trading volume of 495,990 shares, compared to its average volume of 1,177,749. The stock’s fifty day moving average is $76.38 and its two-hundred day moving average is $63.97. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4.24 billion, a PE ratio of 4.93 and a beta of 0.77. Par Pacific Holdings, Inc. has a 1 year low of $32.24 and a 1 year high of $87.03.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, beating analysts’ consensus estimates of $8.22 by $1.88. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. The company’s revenue for the quarter was up 56.8% on a year-over-year basis. On average, analysts anticipate that Par Pacific Holdings, Inc. will post 21.33 EPS for the current year.

Key Stories Impacting Par Pacific

Here are the key news stories impacting Par Pacific this week:

• Positive Sentiment: Favorable refining market: Tight refining capacity, low fuel inventories and resilient demand are supporting elevated fuel margins and have helped PARR and other refiners gain more than 50% over the past six months. Oil Prices are High, But These 2 Refining Stocks are Still Crushing It
• Positive Sentiment: Strong momentum and valuation support: PARR’s roughly 148% one-year gain is backed by its ability to process a flexible crude mix and capture strong refining margins. Its approximately 3.50x enterprise-value-to-EBITDA multiple is below the industry average, suggesting potential relative value despite the rally. Par Pacific Surges 148% in a Year: Should You Bet on the Momentum?
• Positive Sentiment: Diversified operating platform: The company’s combination of refining, fuel marketing and logistics operations provides multiple earnings sources. Constrained industry capacity and elevated crack spreads are supporting profitability. PARR’s latest quarterly results also showed earnings and revenue well above estimates, reinforcing investor confidence. Can Par Pacific’s Diversified Downstream Platform Drive Growth?
• Neutral Sentiment: Analyst backdrop: Coverage is generally constructive, with a consensus rating around “Buy,” although some analysts remain neutral and the average price target may not fully reflect the recent advance.
• Negative Sentiment: CEO insider sale: Chief Executive Officer William Monteleone sold 40,000 shares for approximately $3.25 million, reducing his direct holdings by 8.05%. The transaction was disclosed in an SEC filing; while it may be personal or routine, insider selling can weigh modestly on sentiment after a sharp stock increase. Insider Selling: Par Pacific CEO Sells Stock

Institutional Investors Weigh In On Par Pacific

A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its stake in Par Pacific by 5,095.4% during the second quarter. California State Teachers Retirement System now owns 3,120,123 shares of the company’s stock worth $174,976,000 after purchasing an additional 3,060,068 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Par Pacific in the 1st quarter valued at $28,839,000. Bank of New York Mellon Corp purchased a new position in shares of Par Pacific in the 2nd quarter valued at $19,353,000. Wells Fargo & Company MN raised its stake in Par Pacific by 810.8% during the 4th quarter. Wells Fargo & Company MN now owns 359,834 shares of the company’s stock worth $12,645,000 after acquiring an additional 320,326 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Par Pacific by 22.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock valued at $62,203,000 after acquiring an additional 317,484 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Guggenheim upgraded Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. UBS Group reaffirmed a “neutral” rating on shares of Par Pacific in a research report on Wednesday, August 26th. Mizuho increased their target price on shares of Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Evercore raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Finally, Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $81.57.

About Par Pacific

Par Pacific Holdings, Inc (NYSE:PARR) is an energy company engaged in refining, logistics and retail operations. The company processes crude oil into transportation fuels and other refined products, including gasoline, diesel, jet fuel and asphalt, which it sells through wholesale and retail channels.

Par Pacific operates refining and fuel-distribution assets serving markets in Hawaii and the western United States, including the Rocky Mountain region. Its logistics operations include fuel terminals, pipelines, storage facilities and related infrastructure used to transport and distribute crude oil and refined petroleum products.

The company also operates retail fuel stations and convenience stores under various brand names, primarily in Hawaii and other western markets.