Par Pacific Holdings, Inc. (NYSE:PARR) Sees Significant Increase in Short Interest

Par Pacific Holdings, Inc. (NYSE:PARR) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 6,210,000 shares, an increase of 33.8% from the February 28th total of 4,640,000 shares. Currently, 12.0% of the shares of the stock are short sold. Based on an average daily volume of 1,300,000 shares, the days-to-cover ratio is currently 4.8 days.

Analyst Ratings Changes

A number of research firms recently weighed in on PARR. StockNews.com cut shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. Raymond James initiated coverage on Par Pacific in a report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price target on the stock. Piper Sandler cut their price objective on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Par Pacific has an average rating of “Hold” and a consensus price target of $22.71.

Hedge Funds Weigh In On Par Pacific

Large investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new position in Par Pacific during the fourth quarter worth $286,000. GTS Securities LLC purchased a new position in shares of Par Pacific during the 4th quarter worth about $276,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Par Pacific by 9.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,623 shares of the company’s stock valued at $2,288,000 after purchasing an additional 11,891 shares during the last quarter. iSAM Funds UK Ltd raised its position in Par Pacific by 63.5% in the 4th quarter. iSAM Funds UK Ltd now owns 19,697 shares of the company’s stock worth $323,000 after purchasing an additional 7,651 shares during the period. Finally, Two Sigma Investments LP bought a new stake in Par Pacific in the fourth quarter worth about $544,000. Institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

Par Pacific stock traded up $0.35 during mid-day trading on Wednesday, reaching $14.89. 377,942 shares of the company’s stock traded hands, compared to its average volume of 1,017,887. Par Pacific has a 12-month low of $11.86 and a 12-month high of $40.20. The company has a market cap of $815.20 million, a price-to-earnings ratio of 2.89 and a beta of 2.01. The stock has a 50 day moving average of $15.23 and a two-hundred day moving average of $16.48. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.68 billion. Equities analysts forecast that Par Pacific will post 0.15 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.