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

Par Pacific Holdings, Inc. (NYSE:PARR) was the recipient of a large decrease in short interest in 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. Based on an average daily trading volume, of 957,000 shares, the days-to-cover ratio is presently 3.2 days. Approximately 5.8% of the shares of the stock are sold short.

Insider Activity

In other news, Director William Pate sold 67,700 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the transaction, the director now owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Several institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC boosted its position in Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after acquiring an additional 796 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Par Pacific by 232.5% during the 4th 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. Quarry LP boosted its position in Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares in the last quarter. FMR LLC grew its stake in Par Pacific by 126.7% in the third quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after purchasing an additional 4,826 shares during the last quarter. Finally, MQS Management LLC bought a new position in Par Pacific in the third quarter worth about $185,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Par Pacific Trading Down 2.8 %

Par Pacific stock traded down $0.52 during trading hours on Thursday, hitting $17.88. The company had a trading volume of 1,048,866 shares, compared to its average volume of 864,117. The firm has a market cap of $1.00 billion, a P/E ratio of 3.46 and a beta of 2.00. The company has a 50-day moving average price of $16.75 and a two-hundred day moving average price of $19.44. Par Pacific has a 1 year low of $14.84 and a 1 year high of $40.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the firm earned $3.15 earnings per share. Par Pacific’s revenue was down 16.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Par Pacific will post 1.12 earnings per share for the current 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.