Par Pacific Holdings, Inc. (PARR) Sees Large Growth in Short Interest
Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 3,270,351 shares, a growth of 4.7% from the November 15th total of 3,123,413 shares. Based on an average daily volume of 341,764 shares, the short-interest ratio is presently 9.6 days. Approximately 7.3% of the shares of the stock are sold short.
In related news, major shareholder Whitebox Advisors Llc sold 101,739 shares of Par Pacific stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $20.49, for a total transaction of $2,084,632.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 2,040,706 shares of company stock valued at $42,256,220 over the last 90 days. Insiders own 2.80% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Par Pacific during the 3rd quarter worth $254,000. Jane Street Group LLC acquired a new stake in shares of Par Pacific during the 3rd quarter worth $272,000. Highbridge Capital Management LLC acquired a new stake in shares of Par Pacific during the 3rd quarter worth $461,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Par Pacific during the 3rd quarter worth $706,000. Finally, Sterling Capital Management LLC acquired a new stake in shares of Par Pacific during the 3rd quarter worth $910,000. Institutional investors own 83.57% of the company’s stock.
Par Pacific (NYSEAMERICAN:PARR) last issued its quarterly earnings results on Monday, November 6th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The company had revenue of $610.51 million during the quarter, compared to the consensus estimate of $655.80 million. Par Pacific had a return on equity of 17.03% and a net margin of 2.87%. equities research analysts anticipate that Par Pacific will post 1.33 earnings per share for the current fiscal year.
Several research analysts recently issued reports on the company. BidaskClub downgraded Par Pacific from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 7th. Seaport Global Securities upgraded Par Pacific from a “neutral” rating to a “buy” rating in a report on Monday, September 11th. Zacks Investment Research downgraded Par Pacific from a “buy” rating to a “strong sell” rating in a report on Tuesday, November 14th. Cowen reiterated a “buy” rating and issued a $20.00 price target on shares of Par Pacific in a report on Tuesday, October 17th. Finally, Mizuho reiterated a “buy” rating and issued a $23.00 price target on shares of Par Pacific in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $21.50.
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About Par Pacific
Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.
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