Par Pacific (NYSE:PARR) Posts Earnings Results

Par Pacific (NYSE:PARR) posted its quarterly earnings data on Tuesday. The company reported $10.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.65 by $4.05, Zacks reports. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Par Pacific had a return on equity of 67.59% and a net margin of 9.81%. The business’s revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the firm earned $5.95 earnings per share.

Par Pacific Trading Up 0.5%

PARR stock traded up $0.32 during trading on Thursday, reaching $69.98. 703,813 shares of the stock traded hands, compared to its average volume of 1,133,065. The firm has a market capitalization of $3.51 billion, a PE ratio of 3.65 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76. The business’s 50 day moving average price is $81.06 and its 200-day moving average price is $64.42. Par Pacific has a 52-week low of $34.37 and a 52-week high of $90.74.

Analysts Set New Price Targets

PARR has been the topic of a number of research analyst reports. Weiss Ratings lowered Par Pacific from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. TD Cowen dropped their price objective on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. UBS Group reiterated a “neutral” rating on shares of Par Pacific in a report on Wednesday, August 26th. Raymond James Financial reissued an “outperform” rating and issued a $117.00 target price on shares of Par Pacific in a research report on Monday, October 19th. Finally, The Goldman Sachs Group downgraded shares of Par Pacific from a “buy” rating to a “neutral” rating and boosted their target price for the company from $90.00 to $94.00 in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.43.

Insider Transactions at Par Pacific

In related news, Director Timothy Clossey sold 10,970 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total value of $921,480.00. Following the transaction, the director owned 51,526 shares in the company, valued at approximately $4,328,184. This trade represents a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Danielle Mattiussi sold 3,278 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the completion of the transaction, the insider owned 27,878 shares in the company, valued at $1,875,910.62. The trade was a 10.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,248 shares of company stock worth $4,394,057 in the last three months. 3.60% of the stock is currently owned by company insiders.

About Par Pacific

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.