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

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

Par Pacific Stock Down 0.9 %

Par Pacific stock traded down $0.12 during mid-day trading on Thursday, hitting $13.82. The company’s stock had a trading volume of 403,424 shares, compared to its average volume of 1,011,607. The firm’s 50 day moving average is $16.69 and its 200 day moving average is $17.81. The company has a market cap of $773.26 million, a PE ratio of 2.69 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. Par Pacific has a 52-week low of $13.40 and a 52-week high of $40.20.

Analysts Set New Price Targets

Several brokerages recently weighed in on PARR. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $22.00 in a research note on Monday, December 16th. The Goldman Sachs Group decreased their target price on Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. TD Cowen reduced their target price on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday. Finally, Raymond James started 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. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.14.

Insider Buying and Selling

In related news, Director William Pate sold 67,700 shares of the stock in a transaction dated 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 sale, the director now directly owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.40% of the company’s stock.

About Par Pacific

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.