Par Pacific (PARR) Announces Quarterly Earnings Results, Misses Estimates By $0.15 EPS

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

Shares of NYSEAMERICAN:PARR traded down $0.41 on Wednesday, hitting $17.44. 11,254 shares of the company’s stock were exchanged, compared to its average volume of 233,966. Par Pacific has a 1-year low of $16.42 and a 1-year high of $21.85.

PARR has been the subject of several analyst reports. Zacks Investment Research raised Par Pacific from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Wednesday, July 25th. Cowen cut Par Pacific from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a research report on Wednesday, September 12th.

Several large investors have recently added to or reduced their stakes in PARR. Point72 Asset Management L.P. acquired a new position in shares of Par Pacific during the 2nd quarter worth about $5,725,000. Renaissance Technologies LLC lifted its holdings in shares of Par Pacific by 62.3% in the 2nd quarter. Renaissance Technologies LLC now owns 750,200 shares of the oil and gas company’s stock valued at $13,038,000 after purchasing an additional 287,946 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Par Pacific by 18.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,498,549 shares of the oil and gas company’s stock valued at $25,730,000 after purchasing an additional 234,188 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Par Pacific by 32.6% in the 2nd quarter. Northern Trust Corp now owns 504,789 shares of the oil and gas company’s stock valued at $8,774,000 after purchasing an additional 124,183 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in shares of Par Pacific by 135.7% in the 2nd quarter. Citadel Advisors LLC now owns 197,970 shares of the oil and gas company’s stock valued at $3,441,000 after purchasing an additional 113,970 shares during the last quarter. 83.57% of the stock is owned by institutional investors and hedge funds.

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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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