27 stories mentioning PARRUpdated 2d ago
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Par Pacific Holdings Inc (PARR) has an average rating of overweight and mean price target of $72, according to analysts polled by FactSet.
Par Pacific Holdings (PARR) said Thursday its Par Petroleum subsidiary closed a private placement of $500 million of 7.375% senior unsecured notes due 2034.The company used the net proceeds, along with cash on hand and borrowings under its asset-based revolving credit facility, to repay all outstanding borrowings and terminate Par Petroleum's term loan due 2030.Par Pacific also increased lender commitments under its senior secured asset-based revolving credit facility to up to $1.8 billion and extended the facility's maturity to 2031.
Par Pacific's (PARR) Par Petroleum subsidiary priced a $500 million privately-placed offering of 7.375% senior unsecured notes at face value, the parent company said late Monday.Net proceedings from the offering, expected to close on Thursday, are expected to be used to pay down other debt, the company said.Shares of the company were up 1.1% in Tuesday's premarket trading.
Par Pacific (PARR) said Monday its Par Petroleum unit plans to offer $500 million of senior unsecured notes due 2034 in a private placement.The company said Par Pacific and certain subsidiaries are expected to guarantee the notes on a senior unsecured basis.Par Pacific said it plans to use the net proceeds from the offering, along with cash on hand or borrowings under its asset-based revolving credit facility, to repay and terminate Par Petroleum's term loan due 2030.PARR shares were up 2% in early trading Monday.Price: $65.06, Change: $+0.69, Percent Change: +1.06%
Par Pacific (PARR) refineries processed 184,300 barrels per day of feedstocks in Q1, up from 176,000 bpd in Q1 2025, it said in its earnings statement on Tuesday.Refined product sales volumes also increased, reaching 188,800 bpd, up from 184,600 bpd in Q1 last year, the statement said.Adjusted gross margins per barrel rose significantly, to $11.16 up from $6.59 a year prior while production costs eased to $6.93 per barrel, down from $7.41 in Q1, 2025.About half the company's oil refining took place at its Hawaii facility with 89,800 barrels processed during the quarter, up from 79,400 barrels a year prior.The Montana refinery handled most of the remainder, processing 56,900 barrels up from 51,700 in Q1, 2025. The company's other two refineries are in Washington and Wyoming.
Par Pacific (PARR) reported Q1 adjusted earnings late Tuesday of $0.78 per diluted share, swinging from a loss of $0.94 a year earlier.Analysts polled by FactSet expected earnings of $0.99.Revenue for the quarter ended March 31 was $1.82 billion, up from $1.75 billion a year earlier.Analysts surveyed by FactSet expected $1.78 billion.Par Pacific's shares were down more than 7% in after-hours trading.
Refining stocks surged 53% in Q1 2026 as fuel margins spiked, though earnings lagged expectations with average earnings per share seen at $0.19, TPH Energy Research said Thursday.The quarter was marked by sharp volatility as the Iran conflict disrupted global supply, pushing refining margins higher despite operational and cost-related headwinds, the report said.Global refining activity dropped to about 80 million barrels per day in March from 86 million b/d in January, reflecting Middle East disruptions and feedstock shortages in Asia, TPH added.Fuel margins surged in response, with US gasoline and diesel cracks jumping to $13 per barrel and $46/bbl in March from $6/bbl and $22/bbl earlier in the quarter, the report added.However, average gasoline margins remained weak at $9/bbl for Q1, pressured by strong US refinery utilization of about 91.5%, which kept supply elevated, according to TPH.Diesel margins performed better, averaging $30/bbl, supported by stronger demand running about 1% above five-year average levels and supply disruptions linked to Iran.The Singapore market saw sharper gains, with gasoline and diesel cracks rising to $16/bbl and $41/bbl, up about $3/bbl and $18/bbl over the quarter, according to TPH.Additional tailwinds included wider heavy crude differentials, tighter West Coast supply following refinery closures, and regulatory benefits for smaller refiners.Despite strong margins, earnings disappointed due to weak capture rates of about 66%, as higher crude prices and derivative losses weighed on profitability, TPH added.Other pressures included lower returns on residual products such as asphalt and increased compliance costs tied to renewable fuel obligations, the report added.These headwinds offset benefits from improved crude sourcing and stronger jet fuel spreads, leaving analysts below consensus for several major refiners.Looking ahead, Q2 profitability is expected to improve significantly, supported by stronger margins with gasoline and diesel indicators near $9 and $47 per barrel, it said.TPH forecasts average Q2 earnings per share at $4.66, above consensus of $3.93, with stronger performance expected across all covered refiners, it said.TPH said it is particularly bullish on Phillips 66, Valero (VLO) and Par Pacific (PARR), citing improving fundamentals despite continued caution around margin capture and cost pressures.Price: $241.76, Change: $+6.76, Percent Change: +2.88%
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