Short Interest in Par Pacific Holdings, Inc. (NYSE:PARR) Drops By 15.7%

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

Insider Transactions at Par Pacific

In other news, Director William Pate sold 67,700 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the transaction, the director now directly owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of 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. Headlands Technologies LLC increased its holdings in Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after buying an additional 796 shares during the period. Nisa Investment Advisors LLC raised 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 worth $42,000 after buying an additional 700 shares during the last quarter. Quarry LP lifted its stake in Par Pacific by 610.5% during the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after acquiring an additional 2,027 shares during the period. Finally, FMR LLC lifted its stake in Par Pacific by 126.7% during the 3rd quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after acquiring an additional 4,826 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Par Pacific Stock Up 1.7 %

Par Pacific stock traded up $0.31 during mid-day trading on Friday, reaching $18.12. 916,408 shares of the company were exchanged, compared to its average volume of 883,929. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The firm has a market cap of $1.01 billion, a P/E ratio of 3.51 and a beta of 2.00. The business has a fifty day moving average of $16.83 and a 200 day moving average of $19.38. Par Pacific has a 12-month low of $14.84 and a 12-month high of $40.69.

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