Par Pacific (NYSE:PARR) Issues Quarterly Earnings Results

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

Par Pacific Price Performance

PARR stock traded down $0.46 during midday trading on Thursday, reaching $16.08. The stock had a trading volume of 92,245 shares, compared to its average volume of 903,895. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. The company’s fifty day simple moving average is $18.36 and its 200 day simple moving average is $23.29. The company has a market cap of $905.79 million, a price-to-earnings ratio of 3.21 and a beta of 1.99.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler lowered 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. UBS Group dropped their price target on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Tudor Pickering raised Par Pacific to a “hold” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $36.00 to $30.00 in a report on Wednesday, October 2nd. Finally, TD Cowen reduced 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.