Par Pacific Holdings, Inc. (NYSE:PARR) Sees Large Drop in Short Interest

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) saw a significant drop in short interest in May. As of May 15th, there was short interest totalling 3,830,000 shares, a drop of 19.7% from the April 30th total of 4,770,000 shares. Currently, 7.8% of the company's stock are sold short. Based on an average trading volume of 1,590,000 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analyst Weigh In

Several analysts have commented on the company. TD Cowen cut their target price on Par Pacific from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a research report on Wednesday, May 28th. Mizuho boosted their target price on Par Pacific from $18.00 to $21.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Piper Sandler raised their price target on shares of Par Pacific from $21.00 to $26.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, UBS Group reduced their price target on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $21.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC grew its holdings in Par Pacific by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company's stock valued at $28,000 after purchasing an additional 1,528 shares during the period. US Bancorp DE lifted its position in shares of Par Pacific by 55.7% during the 4th quarter. US Bancorp DE now owns 1,823 shares of the company's stock valued at $30,000 after buying an additional 652 shares in the last quarter. Signaturefd LLC grew its stake in shares of Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock valued at $34,000 after acquiring an additional 986 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Par Pacific during the 1st quarter valued at approximately $35,000. Finally, Quadrant Capital Group LLC increased its holdings in Par Pacific by 123.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company's stock worth $53,000 after acquiring an additional 1,784 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company's stock.

Par Pacific Stock Performance

Shares of Par Pacific stock traded up $0.37 during trading hours on Thursday, reaching $21.42. 732,601 shares of the stock traded hands, compared to its average volume of 1,152,873. Par Pacific has a one year low of $11.86 and a one year high of $27.45. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 4.15 and a beta of 1.50. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average price of $16.75 and a 200 day moving average price of $16.26.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.54). Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the business posted $0.69 EPS. The business's quarterly revenue was down 11.9% compared to the same quarter last year. On average, equities research analysts expect that Par Pacific will post 0.15 earnings per share for the current fiscal 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.