Par Pacific (NYSE:PARR) CEO Sells $4,284,104.60 in Stock

Par Pacific CEO William Monteleone sold 99,284 shares for $4.28 million, reducing his ownership by 19.01%. The sale was disclosed in an SEC filing. Par Pacific's stock opened at $44.80, with a market cap of $2.25 billion. Analysts have mixed ratings, with a moderate buy consensus and a target price of $41.57. Institutional investors own 92.15% of the stock. The company operates in energy and infrastructure sectors.

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) CEO William Monteleone sold 99,284 shares of Par Pacific stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $43.15, for a total value of $4,284,104.60. Following the completion of the transaction, the chief executive officer owned 423,022 shares of the company's stock, valued at $18,253,399.30. This trade represents a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Par Pacific Stock Down 0.4%

Shares of Par Pacific stock opened at $44.80 on Friday. The business has a 50-day moving average price of $39.09 and a 200 day moving average price of $32.24. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $48.40. The firm has a market cap of $2.25 billion, a P/E ratio of -159.99 and a beta of 1.74. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97.

Par Pacific (NYSE:PARR - Get Free Report) last released its earnings results on Tuesday, November 4th. The company reported $5.95 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $3.97. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the business posted ($0.10) EPS. Par Pacific's quarterly revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on PARR shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Par Pacific in a report on Tuesday. Wall Street Zen raised shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Zacks Research raised shares of Par Pacific from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 22nd. Tudor, Pickering, Holt & Co. upgraded shares of Par Pacific from a "hold" rating to a "buy" rating in a research note on Thursday, November 6th. Finally, TD Cowen decreased their target price on Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $41.57.

Read Our Latest Analysis on PARR

Institutional Trading of Par Pacific

Several hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Par Pacific by 32.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company's stock worth $17,194,000 after buying an additional 296,536 shares during the period. First Citizens Bank & Trust Co. raised its stake in Par Pacific by 213.5% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 48,121 shares of the company's stock valued at $1,277,000 after acquiring an additional 32,772 shares in the last quarter. Jump Financial LLC acquired a new position in Par Pacific during the 1st quarter worth $3,289,000. Petrus Trust Company LTA bought a new position in shares of Par Pacific in the first quarter worth $792,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Par Pacific in the second quarter worth $1,419,000. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Company Profile

(Get Free Report)

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.

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