TD Cowen reiterates Par Pacific Holdings Inc. (PARR) rating to an Outperform


Par Pacific Holdings Inc.’s filing revealed that its Chief Executive Officer PATE WILLIAM unloaded Company’s shares for reported $4.01 million on Aug 14. In the deal valued at $34.85 per share,115,099 shares were sold. As a result of this transaction, PATE WILLIAM now holds 483,019 shares worth roughly $ 17.29 million.

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Then, Monteleone William sold 14,063 shares, generating $491,924 in total proceeds. Upon selling the shares at $34.98, the President now owns 309,720 shares.

Before that, Flores Shawn David sold 6,266 shares. Par Pacific Holdings Inc. shares valued at $229,900 were divested by the insider at a price of $36.69 per share. As a result of the transaction, Flores Shawn David now holds 25,203 shares, worth roughly $0.9 million.

TD Cowen reiterated its Par Pacific Holdings Inc. [PARR] rating to an Outperform in a research note published on Monday, May 05, 2023; the price target was $28. PT values the company’s stock at a premium of -27.82 to its Monday closing price.

Price Performance Review of PARR

On Monday, Par Pacific Holdings Inc. [NYSE:PARR] saw its stock fall -2.00% to $35.79. On the same session, the stock had its day’s lowest price of $35.70, but rose to a high of $36.535. Over the last five days, the stock has gained 2.58%. Par Pacific Holdings Inc. shares have risen nearly 53.94% since the year began. Nevertheless, the stocks have risen 84.01% over the past one year. While a 52-week high of $37.49 was reached on 08/11/23, a 52-week low of $14.42 was recorded on 05/09/23. SMA at 50 days reached $30.23, while 200 days put it at $25.94. A total of 0.59 million shares were traded, compared to the trading of 0.88 million shares in the previous session.

Levels Of Support And Resistance For PARR Stock

The 24-hour chart illustrates a support level at 35.48, which if violated will result in even more drops to 35.17. On the upside, there is a resistance level at 36.32. A further resistance level may holdings at 36.84. The Relative Strength Index (RSI) on the 14-day chart is 66.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.60, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 43.70%. Stochastics %K at 69.53% indicates the stock is a holding.

How much short interest is there in Par Pacific Holdings Inc.?

A steep rise in short interest was recorded in Par Pacific Holdings Inc. stocks on Aug 14, 2023, dropping by -0.95 million shares to a total of 3.14 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 4.09 million shares. There was a decline of -30.25%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.07% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.93.

Par Pacific Holdings Inc. [PARR] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 7,447,805 shares, or roughly 12.20% of the outstanding PARR shares. In other words, the investor’s shares have risen by 459,899 from its previous 13-F filing of 6987906.0. Additionally, The Vanguard Group, Inc. increased 13.17% of its stake after which the total value it holdings stand at $189,961,275. Over the last quarter, SSgA Funds Management, Inc. purchased 446,678 shares of Par Pacific Holdings Inc., while Rubric Capital Management LP bought -205,732 shares. At present, Dimensional Fund Advisors LP is holding 2,081,237 shares valued at $65.52 million. Pacer Advisors, Inc. owned 2,035,157 shares of the company at the time of its most recent 13F filing, worth $64.07 million.

According to FactSet, Par Pacific Holdings Inc.’s share price will average $37.83 in the next year, based on opinions of analysts polled by the firm. This is up nearly 4.05 percent from its previous closing price of $36.52. Analysts expect Par Pacific Holdings Inc. stock to reach the higher price of $46.00, while the lowest price estimate is $31.00. However, 6 analysts have rated PARR stock as an Overweight in their predictions for 2023.


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