Par Pacific Holdings, Inc. (PARR) Short Interest Update
Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 3,123,413 shares, a growth of 2.5% from the October 31st total of 3,046,880 shares. Based on an average trading volume of 406,229 shares, the short-interest ratio is presently 7.7 days. Approximately 6.9% of the shares of the stock are sold short.
In other news, major shareholder Whitebox Advisors Llc sold 19,724 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $20.49, for a total transaction of $404,144.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 3,095,629 shares of company stock valued at $61,371,303 in the last quarter. Insiders own 2.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PARR. Cubist Systematic Strategies LLC bought a new stake in shares of Par Pacific in the third quarter valued at about $254,000. Jane Street Group LLC bought a new position in Par Pacific during the third quarter worth about $272,000. Highbridge Capital Management LLC bought a new position in Par Pacific during the third quarter worth about $461,000. Cornerstone Capital Management Holdings LLC. bought a new position in Par Pacific during the third quarter worth about $706,000. Finally, Sterling Capital Management LLC bought a new position in Par Pacific during the third quarter worth about $910,000. Institutional investors and hedge funds own 83.57% of the company’s stock.
Par Pacific (NYSEAMERICAN:PARR) last released its earnings results on Monday, November 6th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.07. Par Pacific had a net margin of 2.87% and a return on equity of 17.03%. The business had revenue of $610.51 million during the quarter, compared to analysts’ expectations of $655.80 million. equities analysts forecast that Par Pacific will post 1.33 earnings per share for the current fiscal year.
PARR has been the subject of a number of research analyst reports. Cowen Inc restated a “buy” rating and issued a $20.00 target price on shares of Par Pacific in a report on Thursday, August 17th. Seaport Global Securities raised shares of Par Pacific from a “neutral” rating to a “buy” rating and upped their price target for the stock from $19.00 to $22.00 in a research note on Monday, September 11th. ValuEngine raised shares of Par Pacific from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Mizuho reissued a “buy” rating and set a $23.00 target price on shares of Par Pacific in a research report on Friday, October 27th. Finally, BidaskClub downgraded shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Par Pacific currently has a consensus rating of “Buy” and an average target price of $21.50.
COPYRIGHT VIOLATION WARNING: “Par Pacific Holdings, Inc. (PARR) Short Interest Update” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another domain, it was illegally copied and republished in violation of United States and international trademark & copyright law. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/11/27/par-pacific-holdings-inc-parr-short-interest-update.html.
About Par Pacific
Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.
Receive News & Stock Ratings for Par Pacific Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Par Pacific Holdings Inc. and related stocks with our FREE daily email newsletter.