Par Pacific (NYSE:PARR) Issues Earnings Results

Par Pacific (NYSE:PARR) posted its quarterly earnings results on Tuesday. The company reported $10.10 EPS for the quarter, beating the consensus estimate of $8.22 by $1.88, Zacks reports. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The firm’s revenue for the quarter was up 56.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.54 earnings per share.

Par Pacific Stock Up 0.1%

Par Pacific stock traded up $0.04 during midday trading on Tuesday, hitting $82.91. 1,178,244 shares of the company were exchanged, compared to its average volume of 1,218,622. The company’s fifty day moving average price is $63.54 and its 200-day moving average price is $56.37. The company has a market cap of $4.16 billion, a PE ratio of 9.25 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. Par Pacific has a fifty-two week low of $26.83 and a fifty-two week high of $87.03.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Mizuho increased their price objective on shares of Par Pacific from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. The Goldman Sachs Group boosted their target price on shares of Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Guggenheim raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Evercore raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Finally, TD Cowen increased their price target on shares of Par Pacific from $78.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Par Pacific presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

Institutional Trading of Par Pacific

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Par Pacific by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company’s stock worth $62,363,000 after purchasing an additional 7,280 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Par Pacific by 0.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,765,631 shares of the company’s stock valued at $62,044,000 after purchasing an additional 9,470 shares in the last quarter. Geode Capital Management LLC grew its holdings in Par Pacific by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,222,100 shares of the company’s stock valued at $42,954,000 after purchasing an additional 21,254 shares in the last quarter. Renaissance Technologies LLC increased its stake in Par Pacific by 13.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,008,964 shares of the company’s stock worth $35,455,000 after buying an additional 117,200 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Par Pacific by 36.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 947,686 shares of the company’s stock worth $33,302,000 after buying an additional 255,173 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.