HollyFrontier Corp. Given New $56.00 Price Target at Argus (HFC)
Investment analysts at Argus cut their target price on shares of HollyFrontier Corp. (NYSE:HFC) from $68.00 to $56.00 in a note issued to investors on Thursday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Argus’ price target indicates a potential upside of 32.58% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital reiterated a “buy” rating on shares of HollyFrontier Corp. (NYSE:HFC) in a research note to investors on Tuesday. They now have a $85.00 price target on the stock. Separately, analysts at Credit Suisse cut their price target on shares of HollyFrontier Corp. (NYSE:HFC) to $55.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Finally, analysts at Morgan Stanley downgraded shares of HollyFrontier Corp. (NYSE:HFC) from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. They now have a $53.00 price target on the stock. They noted that the move was a valuation call.
One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. HollyFrontier Corp. currently has a consensus rating of “Hold” and an average price target of $56.27.
Shares of HollyFrontier Corp. (NYSE:HFC) opened at 42.24 on Thursday. HollyFrontier Corp. has a 52-week low of $35.8259 and a 52-week high of $58.5559. The stock has a 50-day moving average of $44.50 and a 200-day moving average of $46.93. The company has a market cap of $8.419 billion and a P/E ratio of 5.42.
HollyFrontier Corp. (NYSE:HFC) last released its earnings data on Wednesday, August 7th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by $0.14. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter in the previous year, the company posted $2.39 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts predict that HollyFrontier Corp. will post $4.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Wednesday, September 4th.
HollyFrontier Corporation (NYSE:HFC), formerly Holly Corporation, is a petroleum refiner, which produces light products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt.
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