Par Pacific (NYSE:PARR) Announces Quarterly Earnings Results

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

Par Pacific Stock Down 2.8 %

Shares of PARR stock traded down $0.46 during trading hours on Thursday, reaching $16.08. 92,245 shares of the stock were exchanged, compared to its average volume of 903,895. The firm has a market capitalization of $905.79 million, a P/E ratio of 3.21 and a beta of 1.99. Par Pacific has a 12-month low of $14.84 and a 12-month high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The business’s fifty day moving average is $18.36 and its two-hundred day moving average is $23.29.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PARR shares. The Goldman Sachs Group cut their price target on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. UBS Group decreased their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and cut their target price for the company from $37.00 to $23.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. upgraded shares of Par Pacific from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Finally, TD Cowen dropped their price target on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Par Pacific presently has a consensus rating of “Hold” and a consensus price target of $28.00.

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.