Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) – Equities research analysts at Seaport Global Securities dropped their FY2017 earnings estimates for Par Pacific in a report issued on Wednesday. Seaport Global Securities analyst M. Harrison now anticipates that the oil and gas company will earn $1.46 per share for the year, down from their prior estimate of $1.49. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Par Pacific’s Q4 2017 earnings at $0.24 EPS, Q1 2018 earnings at $0.24 EPS, Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.38 EPS and FY2018 earnings at $1.32 EPS.
Par Pacific (NYSEAMERICAN:PARR) last released its quarterly earnings results on Monday, November 6th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.07. The firm had revenue of $610.51 million during the quarter, compared to analysts’ expectations of $655.80 million. Par Pacific had a return on equity of 17.03% and a net margin of 2.87%.
Shares of Par Pacific (NYSEAMERICAN:PARR) traded up $0.58 during trading on Friday, hitting $20.76. The stock had a trading volume of 486,800 shares, compared to its average volume of 265,854. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $934.35, a price-to-earnings ratio of 13.30 and a beta of 0.39. Par Pacific has a 12 month low of $12.96 and a 12 month high of $21.94.
In other Par Pacific news, major shareholder Whitebox Advisors Llc sold 506,079 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $20.75, for a total value of $10,501,139.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 3,029,929 shares of company stock valued at $60,203,366 over the last ninety days. 2.80% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new stake in Par Pacific during the 3rd quarter valued at about $254,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Par Pacific during the 3rd quarter valued at about $706,000. Jane Street Group LLC bought a new stake in Par Pacific during the 3rd quarter valued at about $272,000. Sterling Capital Management LLC bought a new stake in Par Pacific during the 3rd quarter valued at about $910,000. Finally, GSA Capital Partners LLP lifted its holdings in Par Pacific by 31.1% during the 3rd quarter. GSA Capital Partners LLP now owns 74,743 shares of the oil and gas company’s stock valued at $1,555,000 after buying an additional 17,736 shares in the last quarter. Institutional investors and hedge funds own 83.57% of the company’s stock.
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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