Par Pacific (NYSE:PARR) Shares Gap Down After Insider Selling

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s share price gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $16.46, but opened at $15.85. Par Pacific shares last traded at $15.90, with a volume of 106,094 shares.

Specifically, Director William Pate sold 67,700 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the sale, the director now directly owns 524,610 shares of the company's stock, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

PARR has been the topic of a number of recent analyst reports. UBS Group cut their price target on shares of Par Pacific from $40.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. raised shares of Par Pacific from a "neutral" rating to an "overweight" rating and cut their target price for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Mizuho cut Par Pacific from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $26.00 to $22.00 in a research report on Monday. Tudor, Pickering, Holt & Co. lowered Par Pacific from a "buy" rating to a "hold" rating in a research report on Monday, September 9th. Finally, Tudor Pickering raised Par Pacific to a "hold" rating in a research note on Monday, September 9th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Par Pacific currently has a consensus rating of "Hold" and a consensus price target of $27.33.

Par Pacific Trading Down 6.5 %

The business has a 50-day moving average of $16.92 and a 200-day moving average of $20.71. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The stock has a market cap of $861.07 million, a price-to-earnings ratio of 2.98 and a beta of 1.99.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company earned $3.15 EPS. The firm's revenue was down 16.9% on a year-over-year basis. As a group, research analysts forecast that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current year.

Institutional Trading of Par Pacific

Several large investors have recently added to or reduced their stakes in PARR. Headlands Technologies LLC boosted its stake in shares of Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company's stock worth $29,000 after acquiring an additional 796 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Par Pacific during the second quarter valued at approximately $43,000. Quarry LP grew its holdings in Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company's stock valued at $60,000 after purchasing an additional 2,027 shares during the last quarter. nVerses Capital LLC raised its position in shares of Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company's stock valued at $86,000 after purchasing an additional 1,000 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of Par Pacific in the second quarter worth $104,000. 92.15% of the stock is owned by institutional investors.

About Par Pacific

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.