Par Pacific (NYSE:PARR) Posts Quarterly Earnings Results, Misses Estimates By $0.64 EPS

Par Pacific (NYSE:PARR) released its quarterly earnings results on Tuesday. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.64), Zacks reports. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion.

Par Pacific Stock Performance

Shares of PARR stock traded down $0.12 on Thursday, hitting $13.82. 403,424 shares of the stock traded hands, compared to its average volume of 1,011,607. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The company has a market capitalization of $773.26 million, a PE ratio of 2.69 and a beta of 1.99. Par Pacific has a 1-year low of $13.40 and a 1-year high of $40.20. The company’s fifty day moving average is $16.69 and its 200 day moving average is $17.81.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PARR shares. The Goldman Sachs Group cut their target price on shares of Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Raymond James assumed coverage on Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 target price for the company. TD Cowen decreased their price target on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday. Finally, StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.14.

Insider Buying and Selling

In other news, Director William Pate sold 67,700 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the transaction, the director now owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.40% of the stock is owned by company insiders.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.