NYSE:PARROil and Gas
Par Pacific Holdings (PARR) Stock Price Sinks After Record Profit Quarter
Par Pacific Holdings just recorded one of the punchiest profit quarters in its history, yet the stock has slumped almost 16% in a single session to about US$69. The market is reacting to concerns around a refinery cycle, while the numbers tell a different story. Q2 basic earnings per share landed at US$9.53 on revenue of US$2.97b, supported by a strong refining margin performance.
For now, price action is reflecting fear. The earnings report highlights a very different kind of question: how...