HollyFrontier Corp. (HFC) Rating Increased to Hold at Zacks Investment Research
HollyFrontier Corp. (NYSE:HFC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “HollyFrontier Corporation is engaged in refining petroleum. It produces and markets gasoline, diesel, jet fuel, asphalt, heavy products and specialty lubricant products. HollyFrontier Corporation, formerly known as Holly Corporation, is headquartered in Dallas, Texas. “
HFC has been the topic of several other research reports. Barclays PLC restated a “buy” rating and issued a $32.00 target price on shares of HollyFrontier Corp. in a research note on Friday, August 26th. Morgan Stanley restated a “sell” rating and issued a $26.00 target price on shares of HollyFrontier Corp. in a research note on Thursday, September 1st. Piper Jaffray Cos. boosted their target price on HollyFrontier Corp. from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, August 22nd. Vetr upgraded HollyFrontier Corp. from a “hold” rating to a “buy” rating and set a $27.50 target price on the stock in a research note on Monday, August 22nd. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $32.00 target price on shares of HollyFrontier Corp. in a research note on Thursday, July 14th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $36.09.
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HollyFrontier Corp. (NYSE:HFC) traded down 3.99% during trading on Tuesday, reaching $24.79. The company had a trading volume of 3,297,041 shares. HollyFrontier Corp. has a 52-week low of $22.07 and a 52-week high of $52.30. The company has a 50 day moving average price of $26.02 and a 200 day moving average price of $28.73. The company’s market capitalization is $4.36 billion.
HollyFrontier Corp. (NYSE:HFC) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.04. HollyFrontier Corp. had a negative net margin of 2.09% and a positive return on equity of 8.00%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm earned $1.88 EPS. The company’s revenue for the quarter was down 26.7% on a year-over-year basis. On average, equities analysts forecast that HollyFrontier Corp. will post $0.80 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Tuesday, August 23rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.32%. HollyFrontier Corp.’s payout ratio is -93.62%.
Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. bought a new stake in HollyFrontier Corp. during the second quarter worth $113,000. Bellwether Investment Group LLC bought a new stake in HollyFrontier Corp. during the second quarter worth $139,000. Northwestern Mutual Wealth Management Co. increased its stake in HollyFrontier Corp. by 143.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,869 shares of the company’s stock worth $164,000 after buying an additional 4,049 shares during the last quarter. Van ECK Associates Corp increased its stake in HollyFrontier Corp. by 8.9% in the second quarter. Van ECK Associates Corp now owns 8,065 shares of the company’s stock worth $192,000 after buying an additional 660 shares during the last quarter. Finally, GAM Holding AG increased its stake in HollyFrontier Corp. by 70.2% in the second quarter. GAM Holding AG now owns 8,296 shares of the company’s stock worth $197,000 after buying an additional 3,421 shares during the last quarter. Hedge funds and other institutional investors own 83.90% of the company’s stock.
HollyFrontier Corp. Company Profile
HollyFrontier Corporation (HollyFrontier) is an independent petroleum refiner. The Company produces various refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. The Company operates through two segments: Refining and Holly Energy Partners, L.P.
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