Par Pacific (NYSE:PARR) Releases Earnings Results, Misses Estimates By $0.19 EPS

Par Pacific (NYSE:PARR) posted its earnings results on Tuesday. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.19), Zacks reports. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion.

Par Pacific Price Performance

Shares of PARR stock traded up $0.56 during trading hours on Tuesday, hitting $41.27. The company’s stock had a trading volume of 946,764 shares, compared to its average volume of 1,078,794. Par Pacific has a twelve month low of $11.86 and a twelve month high of $48.40. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 8.69 and a beta of 1.23. The business has a fifty day moving average of $38.20 and a 200-day moving average of $37.74. The company has a current ratio of 1.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.70.

Institutional Trading of Par Pacific

A number of institutional investors and hedge funds have recently bought and sold shares of PARR. Wells Fargo & Company MN lifted its stake in shares of Par Pacific by 810.8% during the fourth quarter. Wells Fargo & Company MN now owns 359,834 shares of the company’s stock worth $12,645,000 after purchasing an additional 320,326 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Par Pacific by 22.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock valued at $62,203,000 after acquiring an additional 317,484 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Par Pacific during the fourth quarter valued at approximately $9,576,000. Goldman Sachs Group Inc. boosted its position in shares of Par Pacific by 36.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 947,686 shares of the company’s stock worth $33,302,000 after buying an additional 255,173 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Par Pacific by 1,391.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 267,944 shares of the company’s stock valued at $9,491,000 after buying an additional 249,982 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

Analysts Set New Price Targets

PARR has been the topic of several research analyst reports. Mizuho upped their price objective on Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. UBS Group raised their price objective on shares of Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Zacks Research downgraded Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 15th. Finally, Tudor Pickering upgraded Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Par Pacific presently has a consensus rating of “Hold” and a consensus target price of $44.00.

About Par Pacific

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of O?ahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.