Par Petroleum: 2Q Earnings Snapshot
HOUSTON (AP) _ Par Petroleum Corp. (PARR) on Monday reported second-quarter profit of $28.2 million.
The Houston-based company said it had profit of 56 cents per share. Earnings, adjusted for non-recurring gains, were 45 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The independent oil and gas company posted revenue of $1.41 billion in the period.
Par Petroleum shares have increased 56% since the beginning of the year. In the final minutes of trading on Monday, shares hit $22.07, a rise of 29% in the last 12 months.