Par Pacific Holdings, Inc. (NYSE:PARR) Short Interest Down 16.3% in February

Par Pacific Holdings, Inc. (NYSE:PARR) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 3,827,070 shares, a decline of 16.3% from the February 12th total of 4,571,843 shares. Based on an average daily volume of 1,211,387 shares, the short-interest ratio is currently 3.2 days. Approximately 8.2% of the shares of the company are sold short. Approximately 8.2% of the shares of the company are sold short. Based on an average daily volume of 1,211,387 shares, the short-interest ratio is currently 3.2 days.

Par Pacific Price Performance

Shares of NYSE PARR traded up $3.03 during trading on Wednesday, reaching $55.97. The company had a trading volume of 864,549 shares, compared to its average volume of 1,234,335. The company has a current ratio of 1.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54. Par Pacific has a twelve month low of $12.04 and a twelve month high of $55.82. The stock has a 50-day moving average price of $41.83 and a two-hundred day moving average price of $39.67. The stock has a market capitalization of $2.74 billion, a PE ratio of 7.68 and a beta of 1.16.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the business posted ($0.79) EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Par Pacific will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PARR shares. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Piper Sandler set a $57.00 target price on shares of Par Pacific in a report on Monday, January 12th. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group raised their price objective on Par Pacific from $44.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $51.00.

Insider Activity

In other news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the completion of the sale, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at $24,714,448.02. This trade represents a 19.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

A number of hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its holdings in Par Pacific by 385.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock valued at $69,000 after acquiring an additional 1,558 shares during the last quarter. Corient Private Wealth LLC acquired a new stake in shares of Par Pacific during the fourth quarter worth $345,000. Hsbc Holdings PLC grew its position in shares of Par Pacific by 3.3% in the fourth quarter. Hsbc Holdings PLC now owns 49,096 shares of the company’s stock valued at $1,729,000 after purchasing an additional 1,578 shares during the period. Virtu Financial LLC increased its stake in Par Pacific by 378.3% in the fourth quarter. Virtu Financial LLC now owns 30,215 shares of the company’s stock valued at $1,062,000 after purchasing an additional 23,898 shares during the last quarter. Finally, Compound Planning Inc. purchased a new position in Par Pacific during the fourth quarter worth about $392,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.