Par Pacific Holdings, Inc. (NYSE:PARR – Get Rating) shares gapped down before the market opened on Thursday . The stock had previously closed at $15.83, but opened at $15.22. Par Pacific shares last traded at $14.97, with a volume of 2,890 shares.
Wall Street Analyst Weigh In
Several brokerages have weighed in on PARR. Credit Suisse Group upped their price target on Par Pacific to $21.00 in a report on Thursday, June 9th. JPMorgan Chase & Co. upped their price target on Par Pacific from $16.00 to $17.00 in a report on Tuesday, May 17th. Piper Sandler upped their price target on Par Pacific from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, StockNews.com began coverage on Par Pacific in a report on Thursday, March 31st. They set a “sell” rating on the stock.
Par Pacific Trading Down 3.6 %
The firm has a market cap of $891.58 million, a PE ratio of -5.62 and a beta of 2.16. The company has a current ratio of 0.80, a quick ratio of 0.24 and a debt-to-equity ratio of 4.64. The business has a fifty day moving average price of $16.34 and a 200 day moving average price of $15.01.
Par Pacific (NYSE:PARR – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). Par Pacific had a negative net margin of 3.02% and a negative return on equity of 23.23%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company posted ($1.55) EPS. Analysts forecast that Par Pacific Holdings, Inc. will post 2.61 EPS for the current year.
Insider Activity
In related news, major shareholder Chai Trust Co Llc sold 81,446 shares of the firm’s stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $14.77, for a total transaction of $1,202,957.42. Following the transaction, the insider now owns 6,685,961 shares in the company, valued at approximately $98,751,643.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director L Melvin Cooper sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $20.11, for a total transaction of $40,220.00. Following the transaction, the director now owns 40,195 shares in the company, valued at approximately $808,321.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Chai Trust Co Llc sold 81,446 shares of the firm’s stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $14.77, for a total value of $1,202,957.42. Following the transaction, the insider now owns 6,685,961 shares in the company, valued at approximately $98,751,643.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,650,822 shares of company stock worth $26,820,455. 4.90% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in PARR. Captrust Financial Advisors lifted its position in Par Pacific by 53.3% during the 1st quarter. Captrust Financial Advisors now owns 5,181 shares of the company’s stock worth $67,000 after acquiring an additional 1,801 shares during the period. PNC Financial Services Group Inc. lifted its position in Par Pacific by 12.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,513 shares of the company’s stock worth $98,000 after acquiring an additional 854 shares during the period. Shay Capital LLC acquired a new stake in Par Pacific during the 1st quarter worth approximately $154,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Par Pacific by 142.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,509 shares of the company’s stock worth $157,000 after acquiring an additional 5,586 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Par Pacific during the 4th quarter worth approximately $165,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.
Par Pacific Company Profile
Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.
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Source: defenseworld.net
