Par Pacific (NYSE:PARR) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Par Pacific (NYSE:PARR) issued its quarterly earnings data on Monday. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02, Briefing.com reports. Par Pacific had a return on equity of 9.96% and a net margin of 3.74%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $3.15 EPS. The company’s quarterly revenue was down 16.9% compared to the same quarter last year.

Par Pacific Trading Up 9.5 %

Shares of PARR stock traded up $1.43 on Wednesday, reaching $16.54. 1,635,359 shares of the stock were exchanged, compared to its average volume of 907,670. The stock has a market cap of $931.70 million, a P/E ratio of 3.21 and a beta of 1.99. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84. The firm has a 50 day moving average of $18.36 and a two-hundred day moving average of $23.29. Par Pacific has a 1-year low of $14.84 and a 1-year high of $40.69.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PARR shares. TD Cowen cut their price objective on Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, August 9th. UBS Group cut their price objective on Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and cut their price target for the company from $37.00 to $23.00 in a report on Friday, September 20th. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and cut their price target for the company from $36.00 to $30.00 in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group cut their price target on Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.00.

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.