Par Pacific Holdings, Inc. (NYSE:PARR) Short Interest Update

Par Pacific Holdings, Inc. (NYSE:PARR) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 4,640,000 shares, a growth of 28.9% from the February 13th total of 3,600,000 shares. Approximately 8.9% of the shares of the company are short sold. Based on an average trading volume of 1,170,000 shares, the short-interest ratio is presently 4.0 days.

Par Pacific Stock Up 5.0 %

NYSE PARR traded up $0.70 during trading hours on Monday, reaching $14.78. 727,337 shares of the company’s stock traded hands, compared to its average volume of 948,322. Par Pacific has a 52-week low of $11.86 and a 52-week high of $40.20. The firm has a market cap of $809.18 million, a PE ratio of 2.87 and a beta of 2.01. The firm has a 50-day simple moving average of $16.00 and a 200 day simple moving average of $16.98. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Sell-side analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PARR shares. StockNews.com downgraded shares of Par Pacific from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. The Goldman Sachs Group lowered their price objective on shares of Par Pacific from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. reduced their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $26.00 to $22.00 in a report on Monday, December 16th. Finally, Piper Sandler cut their price target on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.57.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new position in Par Pacific in the third quarter worth about $61,870,000. State Street Corp grew its position in shares of Par Pacific by 10.5% during the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after acquiring an additional 328,325 shares during the period. Millennium Management LLC grew its position in shares of Par Pacific by 43.4% during the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock valued at $31,744,000 after acquiring an additional 586,003 shares during the period. Geode Capital Management LLC grew its position in shares of Par Pacific by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock valued at $22,591,000 after acquiring an additional 7,804 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of Par Pacific by 9.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company’s stock valued at $16,878,000 after buying an additional 91,814 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other 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.