Par Pacific Holdings, Inc. (NASDAQ:PARR) Issues Earnings Results
Par Pacific Holdings, Inc. (NASDAQ:PARR) announced its quarterly earnings results on Monday. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02, Bloomberg Earnings reports. The firm had revenue of $564.25 million during the quarter, compared to analyst estimates of $600.80 million.
Shares of Par Pacific Holdings (NASDAQ PARR) traded down 3.80% during mid-day trading on Tuesday, reaching $16.46. 383,683 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $17.81 and its 200 day moving average price is $16.34. Par Pacific Holdings has a 52-week low of $12.18 and a 52-week high of $19.41. The company has a market cap of $753.70 million and a PE ratio of 2351.43.
Separately, Zacks Investment Research upgraded shares of Par Pacific Holdings from a “sell” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research note on Wednesday, July 19th.
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In other Par Pacific Holdings news, major shareholder Whitebox Advisors Llc sold 235,674 shares of Par Pacific Holdings stock in a transaction on Monday, June 5th. The shares were sold at an average price of $16.89, for a total transaction of $3,980,533.86. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Melvyn N. Klein acquired 10,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were purchased at an average cost of $16.95 per share, for a total transaction of $169,500.00. Following the completion of the acquisition, the director now directly owns 38,073 shares in the company, valued at $645,337.35. The disclosure for this purchase can be found here.
A number of institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in Par Pacific Holdings by 15.0% in the fourth quarter. State Street Corp now owns 812,996 shares of the company’s stock worth $11,819,000 after buying an additional 105,774 shares in the last quarter. Evermore Global Advisors LLC increased its position in Par Pacific Holdings by 15.2% in the second quarter. Evermore Global Advisors LLC now owns 766,806 shares of the company’s stock worth $13,833,000 after buying an additional 101,425 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Par Pacific Holdings during the second quarter worth about $775,000. Dimensional Fund Advisors LP increased its position in Par Pacific Holdings by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 329,159 shares of the company’s stock worth $4,786,000 after buying an additional 40,057 shares in the last quarter. Finally, Rubric Capital Management LP increased its position in Par Pacific Holdings by 1.6% in the second quarter. Rubric Capital Management LP now owns 640,000 shares of the company’s stock worth $11,546,000 after buying an additional 10,000 shares in the last quarter.
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