Par Pacific Holdings, Inc. (NYSE:PARR) Sees Large Decrease in Short Interest

Par Pacific Holdings, Inc. (NYSE:PARR) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 3,070,000 shares, a drop of 15.7% from the December 15th total of 3,640,000 shares. Currently, 5.8% of the company’s stock are short sold. Based on an average daily volume of 957,000 shares, the short-interest ratio is presently 3.2 days.

Par Pacific Trading Down 2.8 %

Par Pacific stock opened at $17.88 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The firm’s 50 day moving average price is $16.75 and its 200-day moving average price is $19.44. Par Pacific has a 1 year low of $14.84 and a 1 year high of $40.69. The stock has a market cap of $1.00 billion, a P/E ratio of 3.46 and a beta of 2.00.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $3.15 EPS. Par Pacific’s revenue for the quarter was down 16.9% compared to the same quarter last year. On average, equities analysts predict that Par Pacific will post 1.12 earnings per share for the current fiscal year.

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 that occurred on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the sale, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Several hedge funds have recently made changes to their positions in PARR. GAMMA Investing LLC increased its stake in Par Pacific by 232.5% in the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock worth $27,000 after purchasing an additional 1,167 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Par Pacific in the third quarter worth about $383,000. Geode Capital Management LLC increased its stake in Par Pacific by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock worth $22,591,000 after buying an additional 7,804 shares during the period. Vestcor Inc bought a new stake in Par Pacific during the 3rd quarter valued at about $375,000. Finally, Barclays PLC raised its stake in shares of Par Pacific by 10.1% during the third quarter. Barclays PLC now owns 469,640 shares of the company’s stock valued at $8,265,000 after acquiring an additional 42,930 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PARR has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price target on Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $37.00 to $23.00 in a research report on Friday, September 20th. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. cut their price target on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Par Pacific presently has an average rating of “Hold” and an average price target of $25.83.

Par Pacific Company Profile

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.