Par Pacific (NYSE:PARR) Stock Price Down 8.8% – Time to Sell?

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price traded down 8.8% during mid-day trading on Wednesday . The stock traded as low as $37.12 and last traded at $36.9750. 997,785 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 1,383,224 shares. The stock had previously closed at $40.53.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 13th. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Par Pacific in a report on Wednesday, October 8th. UBS Group reissued a “neutral” rating and issued a $40.00 target price on shares of Par Pacific in a research report on Wednesday. Finally, Piper Sandler raised their target price on Par Pacific from $39.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.29.

Par Pacific Stock Down 7.5%

The stock has a 50-day simple moving average of $36.11 and a two-hundred day simple moving average of $29.10. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. The firm has a market cap of $1.91 billion, a PE ratio of -133.55 and a beta of 1.74.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 EPS for the quarter, topping the consensus estimate of $1.98 by $3.97. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.72 billion. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) earnings per share. Analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Insider Transactions at Par Pacific

In related news, CAO Ivan Daniel Guerra sold 5,500 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total transaction of $193,105.00. Following the transaction, the chief accounting officer owned 17,491 shares in the company, valued at $614,109.01. The trade was a 23.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $34.55, for a total value of $180,627.40. Following the transaction, the insider owned 24,679 shares in the company, valued at approximately $852,659.45. This represents a 17.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 25,954 shares of company stock valued at $863,048. 4.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Par Pacific

Several large investors have recently bought and sold shares of PARR. Allspring Global Investments Holdings LLC boosted its position in Par Pacific by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,601 shares of the company’s stock valued at $265,000 after acquiring an additional 6,522 shares in the last quarter. Principal Financial Group Inc. lifted its position in Par Pacific by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 278,536 shares of the company’s stock valued at $3,972,000 after acquiring an additional 7,294 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in shares of Par Pacific by 2.3% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 43,531 shares of the company’s stock valued at $621,000 after buying an additional 960 shares during the period. Cerity Partners LLC lifted its holdings in shares of Par Pacific by 10.9% during the 1st quarter. Cerity Partners LLC now owns 15,571 shares of the company’s stock valued at $222,000 after buying an additional 1,535 shares during the period. Finally, CWM LLC lifted its holdings in shares of Par Pacific by 117.5% during the 1st quarter. CWM LLC now owns 7,158 shares of the company’s stock valued at $102,000 after buying an additional 3,867 shares during the period. 92.15% of the stock is owned by 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.