Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 3,015,496 shares, a decrease of 4.7% from the January 12th total of 3,164,752 shares. Approximately 6.7% of the company’s shares are short sold. Based on an average daily volume of 238,788 shares, the short-interest ratio is presently 12.6 days.
A number of analysts have issued reports on PARR shares. Cowen reiterated a “buy” rating and set a $20.00 price target on shares of Par Pacific in a research note on Tuesday, October 17th. Mizuho reiterated a “buy” rating and set a $23.00 price target on shares of Par Pacific in a research note on Friday, October 27th. BidaskClub lowered shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 7th. Finally, Zacks Investment Research lowered shares of Par Pacific from a “buy” rating to a “strong sell” rating in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $21.33.
Institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC acquired a new position in shares of Par Pacific during the third quarter worth about $910,000. GSA Capital Partners LLP grew its position in shares of Par Pacific by 31.1% during the third 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 in the last quarter. Jane Street Group LLC acquired a new position in shares of Par Pacific during the third quarter worth about $272,000. Highbridge Capital Management LLC acquired a new position in shares of Par Pacific during the third quarter worth about $461,000. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Par Pacific during the fourth quarter worth about $208,000. 83.57% of the stock is owned by institutional investors and hedge funds.
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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.07. Par Pacific had a net margin of 2.87% and a return on equity of 17.03%. The company had revenue of $610.51 million for the quarter, compared to analyst estimates of $655.80 million. equities analysts forecast that Par Pacific will post 1.33 earnings per share for the current fiscal year.
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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