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

Par Pacific (NYSE:PARR) announced its quarterly 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. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.15 earnings per share.

Par Pacific Trading Down 4.4 %

Par Pacific stock traded down $0.69 during trading hours on Tuesday, reaching $15.13. The company had a trading volume of 1,014,052 shares, compared to its average volume of 899,906. The firm has a market cap of $852.27 million, a price-to-earnings ratio of 1.93 and a beta of 1.99. Par Pacific has a 12-month low of $14.84 and a 12-month high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The company has a 50-day moving average price of $18.49 and a 200 day moving average price of $23.40.

Analysts Set New Price Targets

A number of research analysts have weighed in on PARR shares. Mizuho reduced their target price on Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. cut shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. The Goldman Sachs Group dropped their price objective on Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. TD Cowen lowered their price objective on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $36.00 to $30.00 in a report on Wednesday, October 2nd. Six research 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, Par Pacific presently has an average rating of “Hold” and an average price target 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.