William Monteleone Sells 108,948 Shares of Par Pacific (NYSE:PARR) Stock

Par Pacific Holdings, Inc. (NYSE:PARR) CEO William Monteleone sold 108,948 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $54.06, for a total value of $5,889,728.88. Following the completion of the transaction, the chief executive officer owned 457,167 shares in the company, valued at $24,714,448.02. This trade represents a 19.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Par Pacific Price Performance

NYSE PARR opened at $52.85 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 1.61 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.59 billion, a PE ratio of 7.25 and a beta of 1.16. The company has a 50 day moving average price of $41.83 and a two-hundred day moving average price of $39.67. Par Pacific Holdings, Inc. has a 12-month low of $12.04 and a 12-month high of $55.31.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.04). Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company earned ($0.79) EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Large investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in Par Pacific by 23.9% during the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock valued at $334,000 after purchasing an additional 4,525 shares during the period. AQR Capital Management LLC increased its position in Par Pacific by 118.2% in the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after buying an additional 89,023 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Par Pacific by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after buying an additional 1,427 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Par Pacific by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock worth $2,085,000 after buying an additional 6,618 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Par Pacific by 352.7% in the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock valued at $3,862,000 after acquiring an additional 211,002 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Mizuho boosted their price target on Par Pacific from $49.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday. Raymond James Financial reissued an “outperform” rating and set a $50.00 price objective on shares of Par Pacific in a report on Wednesday, February 25th. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Piper Sandler set a $57.00 target price on Par Pacific in a report on Monday, January 12th. Finally, The Goldman Sachs Group upped their target price on Par Pacific from $44.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.00.

About Par Pacific

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.