Par Pacific Holdings, Inc. (PARR) Short Interest Up 2.5% in November
Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 3,123,413 shares, a growth of 2.5% from the October 31st total of 3,046,880 shares. Approximately 6.9% of the company’s stock are short sold. Based on an average daily volume of 406,229 shares, the short-interest ratio is currently 7.7 days.
Shares of Par Pacific (NYSEAMERICAN PARR) opened at $20.72 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.35 and a current ratio of 1.09. The stock has a market cap of $934.35, a price-to-earnings ratio of 13.30 and a beta of 0.39. Par Pacific has a 1-year low of $12.96 and a 1-year high of $21.94.
Par Pacific (NYSEAMERICAN:PARR) last posted its quarterly earnings data on Monday, November 6th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The business had revenue of $610.51 million during the quarter, compared to the consensus estimate of $655.80 million. Par Pacific had a net margin of 2.87% and a return on equity of 17.03%. analysts anticipate that Par Pacific will post 1.33 earnings per share for the current year.
In other Par Pacific news, major shareholder Whitebox Advisors Llc sold 394,022 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $18.49, for a total value of $7,285,466.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 3,029,929 shares of company stock worth $60,203,366 over the last ninety days. 2.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP boosted its holdings in shares of Par Pacific by 31.1% during the 3rd quarter. GSA Capital Partners LLP now owns 74,743 shares of the oil and gas company’s stock worth $1,555,000 after buying an additional 17,736 shares during the period. Sterling Capital Management LLC bought a new stake in shares of Par Pacific during the 3rd quarter worth $910,000. Cubist Systematic Strategies LLC bought a new stake in shares of Par Pacific during the 3rd quarter worth $254,000. Highbridge Capital Management LLC bought a new stake in shares of Par Pacific during the 3rd quarter worth $461,000. Finally, Jane Street Group LLC bought a new stake in shares of Par Pacific during the 3rd quarter worth $272,000. 83.57% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on PARR. Seaport Global Securities raised shares of Par Pacific from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $22.00 in a research report on Monday, September 11th. Cowen reissued a “buy” rating and issued a $20.00 target price on shares of Par Pacific in a research report on Thursday, August 17th. BidaskClub downgraded shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 7th. ValuEngine raised shares of Par Pacific from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Mizuho reissued a “buy” rating and issued a $23.00 target price on shares of Par Pacific in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Par Pacific 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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