Par Pacific Holdings, Inc. (NYSE:PARR) Short Interest Update
by Michael Walen · The Markets DailyPar Pacific Holdings, Inc. (NYSE:PARR – Get Free Report) was the recipient of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 3,827,070 shares, a decrease of 16.3% from the February 12th total of 4,571,843 shares. Based on an average daily volume of 1,211,387 shares, the short-interest ratio is presently 3.2 days. Currently, 8.2% of the company’s stock are sold short. Currently, 8.2% of the company’s stock are sold short. Based on an average daily volume of 1,211,387 shares, the short-interest ratio is presently 3.2 days.
Hedge Funds Weigh In On Par Pacific
Large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of Par Pacific by 23.9% during the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock worth $334,000 after buying an additional 4,525 shares during the period. AQR Capital Management LLC lifted its position in Par Pacific by 118.2% during the first quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after acquiring an additional 89,023 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Par Pacific by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after acquiring an additional 1,427 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Par Pacific by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock worth $2,085,000 after acquiring an additional 6,618 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Par Pacific by 352.7% in the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock valued at $3,862,000 after purchasing an additional 211,002 shares during the last quarter. 92.15% of the stock is owned by institutional investors.
Par Pacific Stock Performance
NYSE:PARR traded up $0.02 on Monday, hitting $53.84. The company’s stock had a trading volume of 534,139 shares, compared to its average volume of 1,230,116. The company has a current ratio of 1.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average of $41.17 and a two-hundred day moving average of $39.40. The firm has a market capitalization of $2.64 billion, a P/E ratio of 7.37 and a beta of 1.16. Par Pacific has a one year low of $12.04 and a one year high of $55.31.
Par Pacific (NYSE:PARR – Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.04). The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.79) earnings per share. Research analysts predict that Par Pacific will post 0.15 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on PARR shares. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. TD Cowen raised their target price on shares of Par Pacific from $39.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research report on Monday, December 29th. Finally, Mizuho increased their price target on shares of Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Par Pacific currently has an average rating of “Hold” and an average price target of $49.50.
Read Our Latest Report on Par Pacific
Par Pacific Company Profile
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.