Par Pacific Holdings, Inc. (NYSE:PARR) Short Interest Update

Par Pacific Holdings, Inc. (NYSE:PARR) saw a significant 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. Approximately 8.2% of the shares of the company are sold short. Based on an average daily trading volume, of 1,211,387 shares, the short-interest ratio is presently 3.2 days. Based on an average daily trading volume, of 1,211,387 shares, the short-interest ratio is presently 3.2 days. Approximately 8.2% of the shares of the company are sold short.

Par Pacific Stock Performance

Par Pacific stock traded down $0.27 during midday trading on Tuesday, reaching $52.85. 1,252,089 shares of the stock traded hands, compared to its average volume of 1,470,931. The firm has a fifty day moving average price of $41.83 and a two-hundred day moving average price of $39.67. Par Pacific has a fifty-two week low of $12.04 and a fifty-two week high of $55.31. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 7.25 and a beta of 1.17. 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 (NYSE:PARR) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. Par Pacific’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the business posted ($0.79) earnings per share. On average, equities research analysts forecast that Par Pacific will post 0.15 earnings per share for the current year.

Institutional Trading of Par Pacific

Several institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Par Pacific during the third quarter valued at about $1,149,000. Principal Financial Group Inc. increased its position in shares of Par Pacific by 38.5% in the third quarter. Principal Financial Group Inc. now owns 354,439 shares of the company’s stock worth $12,554,000 after acquiring an additional 98,524 shares in the last quarter. Creative Planning raised its holdings in shares of Par Pacific by 43.8% during the second quarter. Creative Planning now owns 50,438 shares of the company’s stock valued at $1,338,000 after acquiring an additional 15,362 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Par Pacific by 89.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after acquiring an additional 681,190 shares during the period. Finally, Barclays PLC lifted its position in shares of Par Pacific by 24.9% in the 3rd quarter. Barclays PLC now owns 705,832 shares of the company’s stock valued at $25,001,000 after acquiring an additional 140,514 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

PARR has been the subject of several research analyst reports. Zacks Research downgraded Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Saturday. TD Cowen increased their price target on shares of Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Piper Sandler set a $57.00 price objective on shares of Par Pacific in a research report on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $51.00.

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.