Par Pacific (NYSE:PARR) Releases Earnings Results, Misses Expectations By $0.22 EPS

Key Points

• Par Pacific reported quarterly EPS of $0.78, missing the consensus by $0.22, while revenue of $1.82 billion beat estimates and rose about 4.5% year‑over‑year.
• Shares gained roughly 3.1% to $69.44 on the news; the stock trades at a P/E of ~9.5 with a market cap near $3.44 billion.
• Several major firms, notably Goldman Sachs and JPMorgan, raised ratings and boosted price targets to $77, contributing to an average target of $67 and a consensus "Moderate Buy."

Par Pacific (NYSE:PARR - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22), FiscalAI reports. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the firm posted ($0.94) earnings per share. Par Pacific's revenue was up 4.5% compared to the same quarter last year.

Par Pacific Trading Up 3.1%

PARR traded up $2.08 during trading on Tuesday, reaching $69.44. The company had a trading volume of 1,484,362 shares, compared to its average volume of 1,377,468. The firm's 50-day simple moving average is $57.45 and its 200 day simple moving average is $46.06. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 9.53 and a beta of 0.91. Par Pacific has a 12-month low of $14.18 and a 12-month high of $70.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.49 and a current ratio of 1.61.

Insiders Place Their Bets

In related news, CEO William Monteleone sold 108,948 shares of Par Pacific stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the transaction, the chief executive officer owned 457,167 shares of the company's stock, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Par Pacific

Institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd increased its stake in Par Pacific by 34.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company's stock worth $65,000 after purchasing an additional 478 shares in the last quarter. Federated Hermes Inc. increased its stake in Par Pacific by 70.4% in the 4th quarter. Federated Hermes Inc. now owns 2,096 shares of the company's stock worth $74,000 after purchasing an additional 866 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company's stock worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Royal Bank of Canada grew its stake in Par Pacific by 86.3% during the 4th quarter. Royal Bank of Canada now owns 3,697 shares of the company's stock valued at $130,000 after acquiring an additional 1,713 shares in the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in Par Pacific during the 3rd quarter valued at about $136,000. Hedge funds and other institutional investors own 92.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group upgraded shares of Par Pacific from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $53.00 to $77.00 in a research report on Friday, April 10th. JPMorgan Chase & Co. boosted their price target on shares of Par Pacific from $48.00 to $77.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 8th. UBS Group boosted their price target on shares of Par Pacific from $40.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, April 9th. Wall Street Zen upgraded shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 14th. Finally, Mizuho boosted their price target on shares of Par Pacific from $49.00 to $58.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $67.00.

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.

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