Par Pacific (PARR) Issues Quarterly Earnings Results

Par Pacific (NYSEAMERICAN:PARR) issued its earnings results on Tuesday. The oil and gas company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.15), Fidelity Earnings reports. The business had revenue of $909.78 million during the quarter, compared to analyst estimates of $744.50 million.

Shares of PARR traded down $0.47 during trading hours on Wednesday, reaching $17.38. 153,678 shares of the company’s stock traded hands, compared to its average volume of 233,966. Par Pacific has a 12 month low of $16.42 and a 12 month high of $21.85.

Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Par Pacific by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 151,819 shares of the oil and gas company’s stock valued at $3,097,000 after buying an additional 11,292 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Par Pacific by 69.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 13,827 shares of the oil and gas company’s stock valued at $282,000 after buying an additional 5,666 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Par Pacific by 3.7% during the 3rd quarter. Acadian Asset Management LLC now owns 688,802 shares of the oil and gas company’s stock valued at $14,052,000 after buying an additional 24,628 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Par Pacific by 10.5% during the 3rd quarter. Arizona State Retirement System now owns 40,599 shares of the oil and gas company’s stock valued at $828,000 after buying an additional 3,851 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Par Pacific during the 3rd quarter valued at about $867,000. Hedge funds and other institutional investors own 83.57% of the company’s stock.

Several research analysts have commented on the company. Cowen downgraded Par Pacific from an “outperform” rating to a “market perform” rating and set a $22.00 target price for the company. in a research note on Wednesday, September 12th. Zacks Investment Research downgraded Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 9th.

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About Par Pacific

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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