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

Par Pacific Holdings, Inc. (NYSE:PARR) was the target 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 trading volume of 957,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately 5.8% of the shares of the stock are short sold.

Insider Transactions at Par Pacific

In related news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the sale, the director now owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC lifted its stake in Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after purchasing an additional 796 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Par Pacific by 232.5% in the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after buying an additional 1,167 shares during the period. Quarry LP raised its holdings in shares of Par Pacific by 610.5% in the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after buying an additional 2,027 shares during the period. Nisa Investment Advisors LLC lifted its stake in Par Pacific by 37.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after acquiring an additional 700 shares in the last quarter. Finally, FMR LLC boosted its holdings in Par Pacific by 126.7% during the 3rd quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after acquiring an additional 4,826 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Trading Up 1.7 %

Shares of PARR stock traded up $0.31 during trading on Friday, hitting $18.12. 916,408 shares of the stock traded hands, compared to its average volume of 883,929. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69. The firm has a market capitalization of $1.01 billion, a P/E ratio of 3.51 and a beta of 2.00. The firm’s fifty day moving average price is $16.83 and its 200-day moving average price is $19.38. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company’s quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.15 EPS. As a group, research analysts forecast that Par Pacific will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PARR shares. The Goldman Sachs Group dropped their target price on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. decreased their price target on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday. Piper Sandler cut shares of Par Pacific from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $37.00 to $23.00 in a research note on Friday, September 20th. Finally, Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.83.

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.