Par Pacific (NYSE:PARR) Shares Down 7.2% – Should You Sell?

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) dropped 7.2% on Wednesday . The stock traded as low as $16.20 and last traded at $16.06. Approximately 396,673 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 830,418 shares. The stock had previously closed at $17.30.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PARR shares. Raymond James assumed coverage on shares of Par Pacific in a research note on Friday, January 24th. They set an “outperform” rating and a $25.00 price target on the stock. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. JPMorgan Chase & Co. dropped their price objective on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, The Goldman Sachs Group reduced their target price on Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.29.

Par Pacific Price Performance

The stock has a market capitalization of $891.84 million, a P/E ratio of 3.09 and a beta of 1.99. The company has a 50 day moving average of $16.82 and a 200-day moving average of $18.47. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84.

Insider Transactions at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the stock in a transaction on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Hedge funds and other institutional investors have recently modified their holdings of the stock. Simplicity Wealth LLC raised its stake in shares of Par Pacific by 6.6% in the 3rd quarter. Simplicity Wealth LLC now owns 14,872 shares of the company’s stock worth $262,000 after buying an additional 923 shares in the last quarter. Creative Planning grew its holdings in Par Pacific by 246.2% during the third quarter. Creative Planning now owns 33,014 shares of the company’s stock worth $581,000 after acquiring an additional 23,478 shares during the period. Private Advisor Group LLC raised its position in Par Pacific by 60.4% in the third quarter. Private Advisor Group LLC now owns 21,213 shares of the company’s stock worth $373,000 after acquiring an additional 7,987 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Par Pacific by 2.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock valued at $565,000 after acquiring an additional 810 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Par Pacific by 2.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 52,804 shares of the company’s stock valued at $929,000 after acquiring an additional 1,226 shares during the last quarter. 92.15% of the stock is currently 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.