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

Par Pacific Holdings, Inc. (NYSE:PARR) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 6,210,000 shares, an increase of 33.8% from the February 28th total of 4,640,000 shares. Based on an average daily volume of 1,300,000 shares, the short-interest ratio is presently 4.8 days. Currently, 12.0% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PARR. Piper Sandler lowered their target price on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Raymond James began coverage on shares of Par Pacific in a research report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price objective for the company. 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 research report on Thursday, January 16th. The Goldman Sachs Group upgraded Par Pacific from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.00 to $19.00 in a report on Thursday, March 27th. Finally, Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $26.00 to $22.00 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Par Pacific presently has a consensus rating of “Hold” and an average price target of $22.71.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings 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 last quarter. Sterling Capital Management LLC boosted its position in shares of Par Pacific by 821.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock worth $28,000 after purchasing an additional 1,528 shares in the last quarter. US Bancorp DE grew its stake 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 buying an additional 652 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Par Pacific by 37.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after buying an additional 700 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Par Pacific by 123.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock worth $53,000 after acquiring an additional 1,784 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Up 2.4 %

Shares of NYSE:PARR traded up $0.35 on Wednesday, reaching $14.89. The company had a trading volume of 377,942 shares, compared to its average volume of 1,017,887. The firm has a market capitalization of $815.20 million, a PE ratio of 2.89 and a beta of 2.01. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. Par Pacific has a 52-week low of $11.86 and a 52-week high of $40.20. The firm’s 50 day simple moving average is $15.23 and its 200-day simple moving average is $16.48.

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

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.