Stock traders buy large volume of Par Pacific call options (NYSE:PARR)

Par Pacific Holdings, Inc. (NYSE:PARR – Get Rating) saw some unusual options trading on Tuesday. Investors acquired 6,013 call options on the company. This is a 378% increase from the typical daily volume of 1,257 call options.

Insider Activity at Par Pacific

In related news, Director L Melvin Cooper sold 2,000 shares of the company in a trade that took place on Thursday, November 3. The stock was sold at an average price of $22.59, for a total transaction of $45,180.00. As a result of the transaction, the administrator now directly owns 40,858 shares of the company, valued at approximately $922,982.22. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. In other news, L Manager Melvin Cooper sold 2,000 shares of Par Pacific in a trade that took place on Thursday, November 3. The stock was sold at an average price of $22.59, for a total value of $45,180.00. As a result of the sale, the administrator now directly owns 40,858 shares of the company, valued at approximately $922,982.22. The sale was disclosed in a filing with the SEC, which is available via this link. Additionally, General Counsel Jeffrey Ryan Hollis sold 2,158 shares of Par Pacific in a trade that took place on Thursday, November 3. The stock was sold at an average price of $23.37, for a total value of $50,432.46. Following the completion of the sale, the General Counsel now owns 10,736 shares of the company, valued at $250,900.32. The disclosure of this sale can be found here. 4.90% of the shares are currently held by insiders.

Institutional entries and exits

A number of large investors have recently increased or reduced their stake in PARR. American International Group Inc. increased its stake in Par Pacific shares by 2.1% in the second quarter. American International Group Inc. now owns 26,259 shares of the company worth $409,000 after purchasing an additional 550 shares in the last quarter. Price T Rowe Associates Inc. ® increased its stake in Par Pacific shares by 2.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 28,525 shares of the company worth $445,000 after buying 679 additional shares last quarter. Arizona State Retirement System increased its stake in Par Pacific shares by 6.3% in the second quarter. Arizona State Retirement System now owns 12,968 shares of the company worth $202,000 after buying 765 additional shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Par Pacific by 77.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,950 shares of the company worth $30,000 after purchasing an additional 850 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Par Pacific shares by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 7,513 shares of the company worth $98,000 after purchasing an additional 854 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s shares.

By Pacific Stock down 1.2%

NYSE:PARR traded down $0.29 during trading hours on Tuesday, hitting $23.06. 11,773 shares of the company were traded, against an average volume of 1,076,652. The company’s 50-day moving average price is $19.14 and its two-hundred-day moving average price is 17.42 $. The stock has a market capitalization of $1.39 billion, a P/E ratio of 4.86 and a beta of 2.07. Per Pacific has a 1-year minimum of $11.66 and a 1-year maximum of $24.62. The company has a current ratio of 1.01, a quick ratio of 0.48 and a debt ratio of 0.92.

Par Pacific (NYSE:PARR – Get Rating) last reported quarterly earnings data on Monday, August 8. The company reported earnings per share (EPS) of $3.31 for the quarter, beating consensus analyst estimates of $1.90 from $1.41. The company posted revenue of $2.11 billion in the quarter, versus $1.92 billion expected by analysts. Par Pacific had a return on equity of 106.74% and a net margin of 4.22%. Analysts predict Par Pacific will post earnings per share of 5.74 for the current year.

A Wall Street analyst gives his opinion

PARR has been the subject of several research reports. Goldman Sachs Group downgraded Par Pacific from a “buy” rating to a “neutral” rating and raised its price target for the company from $19.50 to $20.00 in a Thursday, August 18 research report . JPMorgan Chase & Co. raised its price target on Par Pacific from $19.00 to $20.00 and gave the company a “neutral” rating in a Tuesday, October 18 research report. StockNews.com upgraded Par Pacific from a “hold” rating to a “buy” rating in a research report on Monday. Cowen raised its price target on Par Pacific from $21.00 to $28.00 and gave the company an “outperform” rating in a Monday, October 24 research report. Finally, Cowen raised its price target on Par Pacific from $21.00 to $28.00 and gave the company an “outperform” rating in a Monday, October 24 research report. Three research analysts have rated the stock with a hold rating and three have assigned the company’s stock a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.17.

About By Pacific

(Get an evaluation)

Per Pacific Holdings, Inc. owns and operates energy and infrastructure businesses. The Company operates through three segments: Refining, Distribution and Logistics. The Refining segment owns and operates three refineries that produce ultra low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil and others associated refined products primarily for consumption in Hawaii, the Pacific Northwest, Wyoming and South Dakota.

Further reading

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