Par Pacific (PARR) to Release Quarterly Earnings on Monday

Posted by MarketBeat News on Aug 1st, 2022

Par Pacific (NYSE:PARR – Get Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of $1.90 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Par Pacific (NYSE:PARR – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.48 billion. Par Pacific had a negative net margin of 3.02% and a negative return on equity of 23.23%. During the same period in the previous year, the company earned ($1.55) earnings per share. On average, analysts expect Par Pacific to post $3 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Par Pacific Trading Up 2.2 %

Shares of NYSE:PARR opened at $16.50 on Monday. The company has a market cap of $991.98 million, a P/E ratio of -6.25 and a beta of 2.16. The company has a debt-to-equity ratio of 4.64, a current ratio of 0.80 and a quick ratio of 0.24. Par Pacific has a 1 year low of $11.66 and a 1 year high of $21.10. The stock’s fifty day moving average price is $16.36 and its 200-day moving average price is $14.92.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, Director L Melvin Cooper sold 2,000 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $20.11, for a total value of $40,220.00. Following the transaction, the director now owns 40,195 shares of the company’s stock, valued at $808,321.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Par Pacific news, Director L Melvin Cooper sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $20.11, for a total value of $40,220.00. Following the completion of the sale, the director now owns 40,195 shares in the company, valued at $808,321.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Chai Trust Co Llc sold 63,844 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $14.60, for a total value of $932,122.40. Following the completion of the sale, the insider now owns 5,608,849 shares of the company’s stock, valued at approximately $81,889,195.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,384,179 shares of company stock valued at $22,909,830. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Par Pacific

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Par Pacific by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 3,619,332 shares of the company’s stock valued at $47,123,000 after purchasing an additional 346,957 shares during the last quarter. State Street Corp lifted its stake in shares of Par Pacific by 34.2% in the 1st quarter. State Street Corp now owns 2,787,761 shares of the company’s stock valued at $36,297,000 after purchasing an additional 710,461 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Par Pacific by 8.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,170,057 shares of the company’s stock worth $15,234,000 after acquiring an additional 87,950 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Par Pacific by 7.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 728,199 shares of the company’s stock worth $9,481,000 after acquiring an additional 53,533 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Par Pacific by 39.6% during the 1st quarter. Invesco Ltd. now owns 644,997 shares of the company’s stock worth $8,398,000 after acquiring an additional 183,125 shares during the last quarter. 85.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PARR. Piper Sandler upped their price target on Par Pacific from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, July 19th. JPMorgan Chase & Co. upped their price target on Par Pacific from $16.00 to $17.00 in a report on Tuesday, May 17th. Finally, Credit Suisse Group increased their target price on Par Pacific to $21.00 in a report on Thursday, June 9th.

Par Pacific Company Profile

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Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.