Par Pacific (NYSE:PARR) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

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

Par Pacific Stock Performance

Shares of NYSE PARR traded up $0.56 during trading hours on Tuesday, hitting $41.27. 946,766 shares of the company’s stock were exchanged, compared to its average volume of 1,078,811. The company’s 50-day moving average price is $38.20 and its 200-day moving average price is $37.74. Par Pacific has a 1-year low of $11.86 and a 1-year high of $48.40. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 8.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PARR shares. Piper Sandler set a $57.00 price objective on shares of Par Pacific in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. UBS Group boosted their price target on Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Mizuho increased their price objective on Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Zacks Research downgraded Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd grew its stake in shares of Par Pacific by 34.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock worth $65,000 after acquiring an additional 478 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Par Pacific by 70.4% in the fourth quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock valued at $74,000 after buying an additional 866 shares during the period. Smartleaf Asset Management LLC increased its stake in Par Pacific by 81.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after acquiring an additional 1,048 shares during the period. Royal Bank of Canada raised its stake in shares of Par Pacific by 86.3% in the fourth quarter. Royal Bank of Canada now owns 3,697 shares of the company’s stock valued at $130,000 after purchasing an additional 1,713 shares in the last quarter. Finally, Quadrant Capital Group LLC acquired a new position in shares of Par Pacific in the third quarter valued at $136,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

About Par Pacific

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.