Par Pacific (NYSE:PARR) Stock Price Down 4.2% – Should You Sell?

Par Pacific Holdings, Inc. (NYSE:PARR) traded down 4.2% during trading on Friday . The company traded as low as $35.86 and last traded at $36.1750. 312,214 shares traded hands during trading, a decline of 70% from the average session volume of 1,024,268 shares. The stock had previously closed at $37.77.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Par Pacific from $62.00 to $59.00 and set an “overweight” rating on the stock in a research note on Thursday. Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 target price (up previously from $38.00) on shares of Par Pacific in a research report on Friday, October 17th. Tudor, Pickering, Holt & Co. upgraded Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Finally, Mizuho raised their price objective on Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.71.

Par Pacific Price Performance

The stock has a 50-day moving average price of $40.62 and a two-hundred day moving average price of $35.89. The company has a current ratio of 1.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 7.82 and a beta of 1.24.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, November 4th. The company reported $5.95 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a return on equity of 23.69% and a net margin of 3.15%.The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the business posted ($0.10) earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In related news, EVP Richard Creamer sold 15,848 shares of Par Pacific stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $41.22, for a total value of $653,254.56. Following the completion of the sale, the executive vice president directly owned 54,654 shares in the company, valued at $2,252,837.88. This trade represents a 22.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Monteleone sold 99,284 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the completion of the transaction, the chief executive officer directly owned 423,022 shares of the company’s stock, valued at approximately $18,253,399.30. This represents a 19.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.40% of the stock is owned by company insiders.

Institutional Trading of Par Pacific

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in Par Pacific by 7,787.1% during the 4th quarter. SG Americas Securities LLC now owns 563,930 shares of the company’s stock valued at $19,816,000 after purchasing an additional 556,780 shares during the last quarter. Diversified Trust Co. lifted its holdings in shares of Par Pacific by 7.0% during the fourth quarter. Diversified Trust Co. now owns 12,374 shares of the company’s stock worth $435,000 after purchasing an additional 809 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Par Pacific by 7.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,271 shares of the company’s stock valued at $652,000 after buying an additional 1,323 shares during the last quarter. GK Wealth Management LLC acquired a new position in Par Pacific in the 4th quarter worth approximately $217,000. Finally, GAMMA Investing LLC raised its position in Par Pacific by 2.5% during the 4th quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock worth $555,000 after buying an additional 382 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.