Par Pacific (NYSE:PARR) Releases Quarterly Earnings Results, Misses Expectations By $0.64 EPS

Par Pacific (NYSE:PARR) issued its quarterly earnings data on Tuesday. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates 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 Down 1.3 %

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Par Pacific news, Director William Pate sold 67,700 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now owns 524,610 shares in the company, valued at $8,509,174.20. The trade was a 11.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

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.