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

Par Pacific (NYSE:PARR) announced its earnings results on Tuesday. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64), Zacks reports. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%.

Par Pacific Price Performance

Shares of PARR traded down $0.20 during trading hours on Tuesday, hitting $15.39. 1,182,878 shares of the company were exchanged, compared to its average volume of 977,124. The firm has a fifty day simple moving average of $16.74 and a 200-day simple moving average of $17.90. The company has a market capitalization of $860.82 million, a PE ratio of 2.98 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. Par Pacific has a one year low of $14.84 and a one year high of $40.69.

Analyst Ratings Changes

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

Insider Activity

In related news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction dated Thursday, December 12th. The stock was 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 of the company’s stock, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by company 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.