Par Pacific (NYSEAMERICAN:PARR) Issues Earnings Results, Misses Estimates By $0.05 EPS

Par Pacific (NYSEAMERICAN:PARR) posted its quarterly earnings results on Monday. The oil and gas company reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.05), Bloomberg Earnings reports. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.55 billion.

Shares of PARR traded down $0.03 during mid-day trading on Tuesday, hitting $22.03. 937 shares of the stock were exchanged, compared to its average volume of 333,787. Par Pacific has a 52-week low of $13.68 and a 52-week high of $23.52.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PARR. State Board of Administration of Florida Retirement System grew its position in Par Pacific by 2.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 18,720 shares of the oil and gas company’s stock valued at $384,000 after acquiring an additional 460 shares during the last quarter. New York State Teachers Retirement System grew its position in Par Pacific by 6.6% in the 1st quarter. New York State Teachers Retirement System now owns 10,388 shares of the oil and gas company’s stock valued at $185,000 after acquiring an additional 640 shares during the last quarter. Millennium Management LLC grew its position in Par Pacific by 1.0% in the 4th quarter. Millennium Management LLC now owns 65,331 shares of the oil and gas company’s stock valued at $926,000 after acquiring an additional 670 shares during the last quarter. Arizona State Retirement System grew its position in Par Pacific by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 46,886 shares of the oil and gas company’s stock valued at $962,000 after acquiring an additional 683 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in Par Pacific by 7.5% in the 1st quarter. State of Alaska Department of Revenue now owns 10,095 shares of the oil and gas company’s stock valued at $179,000 after acquiring an additional 700 shares during the last quarter. 83.57% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently commented on the company. Oppenheimer set a $23.00 price target on Par Pacific and gave the stock a “buy” rating in a report on Friday, May 31st. Royal Bank of Canada assumed coverage on Par Pacific in a report on Monday, June 10th. They issued a “sector perform” rating and a $21.00 price target on the stock. Goldman Sachs Group assumed coverage on Par Pacific in a report on Tuesday, April 16th. They issued a “buy” rating and a $25.00 price target on the stock. Finally, Zacks Investment Research cut Par Pacific from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $22.83.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.

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Earnings History for Par Pacific (NYSEAMERICAN:PARR)

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