Par Pacific (NYSE:PARR) Releases Quarterly Earnings Results, Beats Expectations By $4.05 EPS

Par Pacific (NYSE:PARR) issued its quarterly earnings results on Tuesday. The company reported $10.70 EPS for the quarter, topping analysts’ consensus estimates of $6.65 by $4.05, Zacks reports. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.

Par Pacific Trading Down 1.0%

Shares of NYSE:PARR traded down $0.73 during midday trading on Tuesday, reaching $71.43. The company’s stock had a trading volume of 1,086,081 shares, compared to its average volume of 1,131,423. Par Pacific has a fifty-two week low of $34.37 and a fifty-two week high of $90.74. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.84. The firm has a 50 day moving average price of $81.21 and a two-hundred day moving average price of $64.10. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 4.17 and a beta of 0.75.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PARR shares. TD Cowen dropped their price target on Par Pacific from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. UBS Group reiterated a “neutral” rating on shares of Par Pacific in a research note on Wednesday, August 26th. Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. Benchmark restated a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Finally, Piper Sandler initiated coverage on shares of Par Pacific in a research report on Tuesday, October 27th. They set a “neutral” rating and a $94.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.43.

Insider Transactions at Par Pacific

In other Par Pacific news, Director Timothy Clossey sold 10,970 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $84.00, for a total transaction of $921,480.00. Following the completion of the sale, the director directly owned 51,526 shares of the company’s stock, valued at approximately $4,328,184. The trade was a 17.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Danielle Mattiussi sold 3,278 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $67.29, for a total transaction of $220,576.62. Following the completion of the sale, the insider owned 27,878 shares of the company’s stock, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 54,248 shares of company stock valued at $4,394,057 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Par Pacific Company Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.