Par Pacific (NYSE:PARR) Posts Earnings Results

Par Pacific (NYSE:PARR) announced its earnings results 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. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.

Par Pacific Stock Performance

Shares of NYSE PARR traded down $0.73 during trading on Tuesday, hitting $71.43. The company had a trading volume of 1,086,081 shares, compared to its average volume of 1,131,423. Par Pacific has a 12 month low of $34.37 and a 12 month high of $90.74. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.84. The firm has a market capitalization of $3.58 billion, a P/E ratio of 4.17 and a beta of 0.75. The stock has a 50 day simple moving average of $81.21 and a 200 day simple moving average of $64.10.

Analyst Ratings Changes

A number of brokerages recently issued reports on PARR. Benchmark reiterated a “buy” rating on shares of Par Pacific in a research note on Wednesday, July 8th. Raymond James Financial restated an “outperform” rating and set a $117.00 price objective on shares of Par Pacific in a research note on Monday, October 19th. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and set a $91.00 target price for the company. in a report on Thursday, October 8th. Piper Sandler began coverage on shares of Par Pacific in a research note on Tuesday, October 27th. They issued a “neutral” rating and a $94.00 target price on the stock. Finally, UBS Group reiterated a “neutral” rating on shares of Par Pacific in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Par Pacific has an average rating of “Moderate Buy” and a consensus target price of $90.43.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 40,000 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the sale, the chief executive officer owned 457,167 shares in the company, valued at approximately $37,167,677.10. This represents a 8.05% decrease in their position. The sale 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 business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.29, for a total value of $220,576.62. Following the completion of the transaction, the insider directly owned 27,878 shares in the company, valued at approximately $1,875,910.62. This represents a 10.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,248 shares of company stock worth $4,394,057 over 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.