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

Par Pacific (NYSE:PARR) posted its earnings results on Monday. The company reported ($0.10) earnings per share 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 period last year, the company posted $3.15 earnings per share. Par Pacific’s quarterly revenue was down 16.9% on a year-over-year basis.

Par Pacific Stock Down 4.6 %

Par Pacific stock traded down $0.72 during trading on Tuesday, reaching $15.10. The stock had a trading volume of 953,477 shares, compared to its average volume of 899,742. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69. The business has a 50 day moving average price of $18.49 and a 200 day moving average price of $23.40. The stock has a market cap of $850.58 million, a PE ratio of 1.91 and a beta of 1.99. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84.

Wall Street Analysts Forecast Growth

PARR has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $37.00 to $23.00 in a report on Friday, September 20th. UBS Group dropped their target price 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. 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 note on Wednesday, October 9th. Finally, Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.