Par Pacific (NYSE:PARR) Issues Quarterly Earnings Results

Par Pacific (NYSE:PARR) announced its quarterly earnings data on Monday. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02, Briefing.com reports. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.15 earnings per share.

Par Pacific Trading Down 4.5 %

Shares of PARR traded down $0.71 during mid-day trading on Tuesday, reaching $15.11. The company’s stock had a trading volume of 1,028,388 shares, compared to its average volume of 900,247. The stock has a market cap of $851.15 million, a PE ratio of 1.93 and a beta of 1.99. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. Par Pacific has a 52 week low of $14.84 and a 52 week high of $40.69. The company’s fifty day moving average price is $18.49 and its two-hundred day moving average price is $23.40.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PARR. Mizuho reduced their target price on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group reduced their target price on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. upgraded shares of Par Pacific from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Finally, Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Par Pacific has an average rating of “Hold” and an average price target 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.