Seaport Global Securities Brokers Decrease Earnings Estimates for Par Pacific Holdings, Inc. (PARR)

Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) – Research analysts at Seaport Global Securities cut their Q1 2018 earnings per share (EPS) estimates for shares of Par Pacific in a report released on Monday. Seaport Global Securities analyst M. Harrison now forecasts that the oil and gas company will earn $0.13 per share for the quarter, down from their previous estimate of $0.24. Seaport Global Securities also issued estimates for Par Pacific’s Q2 2018 earnings at $0.32 EPS and Q4 2018 earnings at $0.37 EPS.

Par Pacific (NYSEAMERICAN:PARR) last posted its quarterly earnings results on Monday, November 6th. The oil and gas company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.48 by $0.07. The business had revenue of $610.51 million during the quarter, compared to analysts’ expectations of $655.80 million. Par Pacific had a net margin of 2.87% and a return on equity of 17.03%.

PARR has been the subject of several other reports. BidaskClub cut shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research upgraded shares of Par Pacific from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Cowen reiterated a “buy” rating and issued a $20.00 target price on shares of Par Pacific in a research note on Tuesday, October 17th. Finally, Mizuho reiterated a “buy” rating and issued a $23.00 target price on shares of Par Pacific in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $21.33.

Shares of Par Pacific (NYSEAMERICAN PARR) opened at $16.86 on Wednesday. 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 cap of $819.44, a P/E ratio of 11.09 and a beta of 0.29. Par Pacific has a fifty-two week low of $14.05 and a fifty-two week high of $21.94.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System acquired a new stake in shares of Par Pacific in the fourth quarter worth $321,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Par Pacific in the fourth quarter worth $265,000. Meeder Asset Management Inc. lifted its stake in shares of Par Pacific by 159.3% in the fourth quarter. Meeder Asset Management Inc. now owns 13,422 shares of the oil and gas company’s stock worth $258,000 after buying an additional 8,245 shares during the last quarter. Alambic Investment Management L.P. acquired a new stake in shares of Par Pacific in the fourth quarter worth $583,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Par Pacific in the fourth quarter worth $614,000. Hedge funds and other institutional investors own 83.57% of the company’s stock.

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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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