Par Pacific (NYSE:PARR) Issues Earnings Results

Par Pacific (NYSE:PARR) issued 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. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the company posted $3.15 EPS. The firm’s revenue was down 16.9% compared to the same quarter last year.

Par Pacific Stock Performance

NYSE PARR opened at $15.11 on Wednesday. The company has a fifty day moving average of $18.49 and a two-hundred day moving average of $23.40. The company has a market capitalization of $851.15 million, a PE ratio of 1.93 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. Par Pacific has a 1 year low of $14.84 and a 1 year high of $40.69.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PARR. Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. The Goldman Sachs Group decreased their price objective on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $37.00 to $23.00 in a report on Friday, September 20th. TD Cowen cut their price target on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.