Par Pacific (NYSE:PARR) Trading 6.9% Higher – Here’s What Happened

Par Pacific Holdings, Inc. (NYSE:PARR) shot up 6.9% during trading on Monday . The company traded as high as $17.53 and last traded at $17.54. 248,970 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 826,487 shares. The stock had previously closed at $16.41.

Analysts Set New Price Targets

Several research analysts have weighed in on PARR shares. Raymond James assumed coverage on Par Pacific in a research report on Friday, January 24th. They set an “outperform” rating and a $25.00 price objective on the stock. StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. cut their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Mizuho lowered shares of 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, December 16th. Finally, The Goldman Sachs Group dropped their price target on shares of Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Par Pacific has an average rating of “Hold” and a consensus price target of $25.29.

Par Pacific Stock Down 7.9 %

The firm’s 50-day moving average price is $16.82 and its 200 day moving average price is $18.47. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $891.84 million, a price-to-earnings ratio of 3.09 and a beta of 1.99.

Insider Buying and Selling at Par Pacific

In related news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the sale, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of Par Pacific by 232.5% during the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after purchasing an additional 1,167 shares in the last quarter. US Bancorp DE grew its holdings in Par Pacific by 55.7% during the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after acquiring an additional 652 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Par Pacific by 37.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after acquiring an additional 700 shares during the last quarter. Allworth Financial LP increased its position in Par Pacific by 4,804.2% in the 4th quarter. Allworth Financial LP now owns 8,141 shares of the company’s stock valued at $139,000 after acquiring an additional 7,975 shares during the period. Finally, FMR LLC raised its stake in shares of Par Pacific by 126.7% during the third quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after acquiring an additional 4,826 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

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.