Par Pacific (PARR) to Release Earnings on Monday

Par Pacific (NYSE:PARR) will issue its quarterly earnings data after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of $2.98 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Monday, August 7th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.53. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.57 billion. Par Pacific had a return on equity of 73.08% and a net margin of 8.45%. On average, analysts expect Par Pacific to post $8 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Par Pacific Stock Down 0.4 %

NYSE:PARR opened at $32.06 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.37 and a current ratio of 1.07. The company has a market cap of $1.96 billion, a PE ratio of 3.12 and a beta of 2.03. Par Pacific has a 52-week low of $19.39 and a 52-week high of $37.50. The stock has a 50-day simple moving average of $34.30 and a 200 day simple moving average of $28.88.

Insiders Place Their Bets

In other news, CEO William Pate sold 115,099 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $34.85, for a total value of $4,011,200.15. Following the transaction, the chief executive officer now directly owns 483,019 shares of the company’s stock, valued at approximately $16,833,212.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William Pate sold 115,099 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $34.85, for a total value of $4,011,200.15. Following the transaction, the chief executive officer now directly owns 483,019 shares of the company’s stock, valued at approximately $16,833,212.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President William Monteleone sold 14,063 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $34.98, for a total value of $491,923.74. Following the completion of the sale, the president now directly owns 309,720 shares of the company’s stock, valued at $10,834,005.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 132,287 shares of company stock valued at $4,617,780. 4.90% of the stock is currently owned by company insiders.

Institutional Trading of Par Pacific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC bought a new stake in Par Pacific during the 1st quarter worth approximately $60,000. Fortis Capital Advisors LLC purchased a new position in shares of Par Pacific in the 1st quarter worth approximately $113,000. Belpointe Asset Management LLC purchased a new position in shares of Par Pacific in the 1st quarter worth approximately $113,000. Ameritas Investment Partners Inc. boosted its stake in shares of Par Pacific by 24.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,566 shares of the company’s stock worth $122,000 after buying an additional 898 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Par Pacific by 53.3% in the first quarter. Captrust Financial Advisors now owns 5,181 shares of the company’s stock valued at $67,000 after purchasing an additional 1,801 shares during the last quarter. 92.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PARR shares. Piper Sandler raised their price objective on Par Pacific from $36.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. StockNews.com initiated coverage on Par Pacific in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group raised their price objective on Par Pacific from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, September 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.40.

Par Pacific Company Profile

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.