Short Interest in Par Pacific Holdings, Inc. (NYSE:PARR) Rises By 28.9%

Par Pacific Holdings, Inc. (NYSE:PARR) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 4,640,000 shares, a growth of 28.9% from the February 13th total of 3,600,000 shares. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is currently 4.0 days. Currently, 8.9% of the company’s shares are sold short.

Institutional Investors Weigh In On Par Pacific

Several hedge funds have recently bought and sold shares of PARR. GAMMA Investing LLC lifted its holdings in Par Pacific by 232.5% during the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after purchasing an additional 1,167 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of Par Pacific by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock worth $28,000 after buying an additional 1,528 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after acquiring an additional 652 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Par Pacific by 37.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after purchasing an additional 700 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Par Pacific by 123.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock worth $53,000 after purchasing an additional 1,784 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen decreased their target price on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group lowered their price target on Par Pacific from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Piper Sandler decreased their price objective on Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. StockNews.com lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, Raymond James started coverage on Par Pacific in a research note on Friday, January 24th. They issued an “outperform” rating and a $25.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Par Pacific has a consensus rating of “Hold” and an average target price of $22.57.

Par Pacific Trading Down 2.2 %

Par Pacific stock opened at $14.41 on Wednesday. Par Pacific has a one year low of $11.86 and a one year high of $40.20. The company has a market cap of $788.86 million, a price-to-earnings ratio of 2.79 and a beta of 2.01. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The firm has a 50-day moving average of $15.91 and a 200-day moving average of $16.87.

Par Pacific (NYSE:PARR) last posted its quarterly 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 firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. On average, equities analysts expect that Par Pacific will post 0.15 earnings per share for the current fiscal year.

About Par Pacific

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.