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

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

Par Pacific Trading Up 1.4%

PARR traded up $0.56 during midday trading on Tuesday, reaching $41.27. 946,764 shares of the company’s stock traded hands, compared to its average volume of 1,078,794. Par Pacific has a 52 week low of $11.86 and a 52 week high of $48.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48. The firm has a fifty day moving average of $38.20 and a two-hundred day moving average of $37.74. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 8.69 and a beta of 1.23.

Analyst Ratings Changes

A number of research analysts have recently commented on PARR shares. Piper Sandler set a $57.00 price target on shares of Par Pacific in a research report on Monday, January 12th. Zacks Research cut Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Tudor Pickering raised Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 15th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Par Pacific has a consensus rating of “Hold” and an average price target of $44.00.

Hedge Funds Weigh In On Par Pacific

Large investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of Par Pacific by 23.9% during the first quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock valued at $334,000 after buying an additional 4,525 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Par Pacific by 118.2% during the first quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock valued at $2,344,000 after purchasing an additional 89,023 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Par Pacific by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after buying an additional 1,427 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Par Pacific by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock valued at $2,085,000 after buying an additional 6,618 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Par Pacific by 352.7% during the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after acquiring an additional 211,002 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Company Profile

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 Oʻahu, 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.