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

Par Pacific (NYSE:PARR) released its quarterly earnings results on Monday. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02, Briefing.com reports. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm posted $3.15 EPS. Par Pacific’s quarterly revenue was down 16.9% compared to the same quarter last year.

Par Pacific Stock Performance

PARR traded down $0.69 during trading hours on Tuesday, hitting $15.13. The stock had a trading volume of 1,014,052 shares, compared to its average volume of 899,906. Par Pacific has a 1 year low of $14.84 and a 1 year high of $40.69. The company’s fifty day simple moving average is $18.49 and its 200 day simple moving average is $23.40. The stock has a market cap of $852.27 million, a PE ratio of 1.93 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.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $37.00 to $23.00 in a research report on Friday, September 20th. The Goldman Sachs Group reduced their target price on Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $36.00 to $30.00 in a report on Wednesday, October 2nd. Tudor Pickering upgraded Par Pacific to a “hold” rating in a research note on Monday, September 9th. Finally, Tudor, Pickering, Holt & Co. cut Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.