Par Pacific Holdings Inc. (PARR) stock price increased after going down in the early Friday session. On Friday, March 12, 2021, it went down a bit but gained 11.85% in the extended-hours trading.
Recent PARR news
Analysts update their 2021 revenue estimates
On March 1, 2021, the prominent stock market analysts updated their revenue forecasts for PARR. Analysts are expecting that the revenue will grow faster. The six analysts have increased their revenue estimates from $3.6 billion to $4.3 billion for 2021.
Participation in March investor conference
On March 1, 2021, Par Pacific Holdings Inc. announced that its management team would participate in virtual conferences, which are scheduled for March 2021.
- March 2-3: Credit Suisse 26th Annual Energy Summit
- March 10: BofA Securities 2021 Refining Conference
- March 24: 49th Annual Scotia Howard Weil Energy Conference
PARR Recent Financial Results
PARRannounced its financial results for the fourth quarter, and the full-year ended on December 31, 2020, on February 24, 2021.
Fourth-quarter financial highlights:
- PARRsuffered a Net Loss of $131.9 million, or $(2.47) per diluted share compared to net income of $35.4 million, or $0.68 per diluted share, for the same quarter in 2019
- PARRhad an Adjusted Net Loss of $75.3 million, or $(1.41) per diluted share, compared to Adjusted Net Income of $54.5 million in the fourth quarter of 2019.
- Adjusted EBITDA for the fourth quarter was $33.9 million, compared to $92.9 million for the same quarter in 2019.
- It achieved operating expense and logistics cost of sales reductions of approximately $55 million in 2020.
Full-year 2020 financial highlights:
- PARRhad a net loss of $409.1 million, or $(7.68) per diluted share, for the full year 2020, compared to net income of $40.8 million, or $0.80 per diluted share, for the prior year.
- Adjusted Net Loss was $249.8 million for the year 2020, compared to Adjusted Net Income of $90.2 million for the previous financial year.
- Adjusted EBITDA was $(86.7) million for 2020, compared to $258.8 million for 2019.
About the Company
Par Pacific Holdings, Inc. (NYSE: PARR) was founded in 2012, headquartered in Houston, Texas, and is an oil and gas exploration and production company. Its old name was Par Petroleum Corporation, and it revived from bankruptcy as a Par Pacific Holdings in October 2015. In 2017, it came to the Fortune 1000 corporation list. PARRowns and operates 60,000-BPD of combined refining capacity and 33 retail locations.
William Pate is the current president and CEO of PARR. He joined PARR as a board member in 2014. He has vast experience of working at different corporate levels in many companies. Mr. Pate holds a Juris Doctorate from the University of Chicago Law School and a Bachelor of Arts degree from Harvard College.