Par Pacific (NYSE:PARR) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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

Par Pacific Price Performance

Shares of NYSE:PARR traded up $1.43 during trading on Wednesday, hitting $16.54. 1,635,359 shares of the stock were exchanged, compared to its average volume of 907,670. The company has a fifty day moving average price of $18.36 and a two-hundred day moving average price of $23.29. The company has a market cap of $931.70 million, a PE ratio of 3.21 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 12-month low of $14.84 and a 12-month high of $40.69.

Wall Street Analyst Weigh In

PARR has been the subject of several recent research reports. Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th. UBS Group lowered their price objective on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. The Goldman Sachs Group lowered their price objective on Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $37.00 to $23.00 in a report on Friday, September 20th. Finally, 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.