Par Pacific (NYSE:PARR) Issues Quarterly Earnings Results

Par Pacific (NYSE:PARR) released 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 return on equity of 10.06% and a net margin of 3.74%.

Par Pacific Stock Performance

Shares of NYSE PARR traded down $0.20 during midday trading on Tuesday, hitting $15.39. 1,182,871 shares of the company’s stock were exchanged, compared to its average volume of 977,124. Par Pacific has a twelve month low of $14.84 and a twelve month high of $40.69. The firm has a market cap of $860.82 million, a P/E ratio of 2.98 and a beta of 1.99. The stock’s 50 day moving average price is $16.74 and its 200-day moving average price is $17.90. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PARR shares. JPMorgan Chase & Co. cut their price objective on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. The Goldman Sachs Group dropped their price target on Par Pacific from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Mizuho downgraded shares of Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $22.00 in a report on Monday, December 16th. StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Raymond James began coverage on shares of Par Pacific in a report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.29.

Insider Activity at Par Pacific

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 insiders.

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.