The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Par Pacific Holdings Inc. shares valued at $787,785 were sold by CHAI TRUST CO LLC on Jun 24. At $15.76 per share, CHAI TRUST CO LLC sold 50,000 shares. The insider’s holdings dropped to 2,627,351 shares worth approximately $60.53 million following the completion of this transaction.
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Also, CHAI TRUST CO LLC sold 50,000 shares, netting a total of over 779,656 in proceeds. Following the sale of shares at $15.59 each, the insider now holds 2,677,351 shares.
Before that, CHAI TRUST CO LLC had sold 50,000 shares from its account. In a trade valued at $819,180, the Members of 10% Owner Group traded Par Pacific Holdings Inc. shares for $16.38 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $62.84 million.
As published in a research note from Goldman on August 18, 2022, Par Pacific Holdings Inc. [PARR] has been rated down from a Buy to a Neutral and the price target has been revised to $20 from $19.50. This represents a -15.2% premium over Wednesday’s closing price. Analysts at Goldman upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early April. As of March 01, 2021, Cowen has increased its “Market perform” rating to a “an Outperform” for PARR. Earlier on February 22, 2021, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for PARR stock which previously was a “an Underweight”.
Analyzing PARR Stock Performance
On Wednesday, Par Pacific Holdings Inc. [NYSE: PARR] plunged -0.99% to $23.04. The stock’s lowest price that day was $22.925, but it reached a high of $24.15 in the same session. During the last five days, there has been a drop of approximately -1.71%. Over the course of the year, Par Pacific Holdings Inc. shares have jumped approximately 39.72%. Shares of the company reached a 52-week high of $24.62 on 10/27/22 and a 52-week low of $11.66 on 03/16/22. A 50-day SMA is recorded $18.91, while a 200-day SMA reached $16.14. Nevertheless, trading volume fell to 1.49 million shares from 0.94 million shares the previous day.
Support And Resistance Levels for Par Pacific Holdings Inc. (PARR)
According to the 24-hour chart, there is a support level at 22.59, which, if violated, would cause prices to drop to 22.15. In the upper region, resistance lies at 23.82. The next price resistance is at 24.60. RSI (Relative Strength Index) is 69.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.15, which suggests the price will increase in the coming days. Percent R is at 24.80%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Par Pacific Holdings Inc. subject to short interest?
Stocks of Par Pacific Holdings Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.82 million shares to 2.49 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.67 million shares. A jump of 32.93% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.7 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.7.
Which companies own the most shares of Par Pacific Holdings Inc. (PARR)?
According to BlackRock Fund Advisors filings, the company currently owns 6,690,987 shares, which is about 11.12% of the total PARR shares outstanding. The investor’s shares have appreciated by 89,063 from its previous 13-F filing of 6601924.0 shares. The Vanguard Group, Inc. reduced a -1.72% interest valued at $56.66 million while Chai Trust Co LLC sold a -2,344,316 stake. A total of -45,928 shares of Par Pacific Holdings Inc. were sold by SSgA Funds Management, Inc. during the quarter, and -600,000 were sold by Nut Tree Capital Management LP. In its current portfolio, Oaktree Capital Management LP holds 2,210,000 shares valued at $36.27 million.
In terms of Par Pacific Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $24.83 in the next 12 months, up nearly 9.58% from the previous closing price of $23.27. Analysts anticipate Par Pacific Holdings Inc. stock to reach $28.00 by 2022, with the lowest price target being $21.00. In spite of this, 6 analysts ranked Par Pacific Holdings Inc. stock as an Overweight at the end of 2022.