Par Pacific Holdings, Inc. Forecasted to Post Q1 2018 Earnings of $0.13 Per Share (PARR)
Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) – Research analysts at Seaport Global Securities dropped their Q1 2018 earnings estimates for shares of Par Pacific in a report issued on Monday. Seaport Global Securities analyst M. Harrison now anticipates that the oil and gas company will post earnings per share of $0.13 for the quarter, down from their prior forecast of $0.24. Seaport Global Securities also issued estimates for Par Pacific’s Q2 2018 earnings at $0.32 EPS and Q4 2018 earnings at $0.37 EPS.
A number of other research analysts have also issued reports on the stock. BidaskClub lowered shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 7th. Zacks Investment Research upgraded shares of Par Pacific from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Cowen reiterated a “buy” rating and set a $20.00 price target on shares of Par Pacific in a research note on Tuesday, October 17th. Finally, Mizuho reiterated a “buy” rating and set a $23.00 price target on shares of Par Pacific in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Par Pacific has a consensus rating of “Buy” and an average price target of $21.33.
Par Pacific (NYSEAMERICAN:PARR) last posted its quarterly earnings data on Monday, November 6th. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The company had revenue of $610.51 million for the quarter, compared to analyst estimates of $655.80 million. Par Pacific had a net margin of 2.87% and a return on equity of 17.03%.
Several institutional investors have recently modified their holdings of PARR. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Par Pacific during the third quarter worth about $706,000. Jane Street Group LLC acquired a new position in Par Pacific during the third quarter worth about $272,000. Highbridge Capital Management LLC acquired a new position in Par Pacific during the third quarter worth about $461,000. Cubist Systematic Strategies LLC acquired a new position in Par Pacific during the third quarter worth about $254,000. Finally, Sterling Capital Management LLC acquired a new position in Par Pacific during the third quarter worth about $910,000. Institutional investors and hedge funds own 83.57% of the company’s stock.
Par Pacific Company Profile
Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.
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