HollyFrontier Corp Downgraded to Neutral at Credit Suisse (HFC)
HollyFrontier Corp (NYSE:HFC) was downgraded by equities researchers at Credit Suisse from an “outperform” rating to a “neutral” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $50.00 target price on the stock, down from their previous target price of $63.30. Credit Suisse’s price target points to a potential upside of 9.94% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie downgraded shares of HollyFrontier Corp from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 8th. They now have a $45.00 price target on the stock, down previously from $49.00. Separately, analysts at Howard Weil downgraded shares of HollyFrontier Corp from an “outperform” rating to a “sector perform” rating in a research note on Monday, April 21st. Finally, analysts at Citigroup Inc. raised their price target on shares of HollyFrontier Corp from $40.00 to $42.00 in a research note on Monday, April 7th. They now have a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $52.10.
Shares of HollyFrontier Corp (NYSE:HFC) traded down 2.00% on Friday, hitting $44.57. The stock had a trading volume of 2,135,780 shares. HollyFrontier Corp has a 1-year low of $38.98 and a 1-year high of $53.42. The stock has a 50-day moving average of $48.76 and a 200-day moving average of $48.24. The company has a market cap of $8.831 billion and a P/E ratio of 16.48.
HollyFrontier Corp (NYSE:HFC) last released its earnings data on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.77 by $0.01. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts expect that HollyFrontier Corp will post $4.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Wednesday, June 4th. This is an increase from HollyFrontier Corp’s previous quarterly dividend of $0.30.
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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