HollyFrontier Corp. (HFC) Stock Rating Upgraded by 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. “
A number of other equities analysts also recently issued reports on the stock. Morgan Stanley reissued a “sell” rating and issued a $26.00 price objective on shares of HollyFrontier Corp. in a report on Thursday, September 1st. TheStreet downgraded shares of HollyFrontier Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Wolfe Research downgraded shares of HollyFrontier Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, June 20th. Deutsche Bank AG downgraded shares of HollyFrontier Corp. from a “buy” rating to a “hold” rating and lowered their price target for the company from $53.00 to $30.00 in a report on Tuesday, July 12th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $32.00 price target on shares of HollyFrontier Corp. in a report on Friday, August 26th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $36.09.
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Shares of HollyFrontier Corp. (NYSE:HFC) traded down 3.99% during trading on Tuesday, hitting $24.79. 3,297,041 shares of the stock were exchanged. HollyFrontier Corp. has a 52-week low of $22.07 and a 52-week high of $52.30. The firm has a 50 day moving average of $26.02 and a 200-day moving average of $28.73. The stock’s market cap is $4.36 billion.
HollyFrontier Corp. (NYSE:HFC) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.04. The business earned $2.71 billion during the quarter, compared to analysts’ expectations of $2.35 billion. HollyFrontier Corp. had a positive return on equity of 8.00% and a negative net margin of 2.09%. The business’s quarterly revenue was down 26.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 EPS. Equities research analysts anticipate that HollyFrontier Corp. will post $0.80 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Tuesday, August 23rd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.32%. The ex-dividend date is Friday, August 19th. HollyFrontier Corp.’s payout ratio is -93.62%.
A number of hedge funds and other institutional investors have recently bought and sold shares of HFC. Wellington Management Group LLP raised its stake in shares of HollyFrontier Corp. by 24.2% in the first quarter. Wellington Management Group LLP now owns 1,255,012 shares of the company’s stock worth $44,327,000 after buying an additional 244,503 shares in the last quarter. Legal & General Group Plc raised its stake in shares of HollyFrontier Corp. by 3.8% in the first quarter. Legal & General Group Plc now owns 948,569 shares of the company’s stock worth $33,490,000 after buying an additional 34,554 shares in the last quarter. AMP Capital Investors Ltd raised its stake in shares of HollyFrontier Corp. by 49.7% in the first quarter. AMP Capital Investors Ltd now owns 280,707 shares of the company’s stock worth $9,653,000 after buying an additional 93,248 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. raised its stake in shares of HollyFrontier Corp. by 2.4% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 284,637 shares of the company’s stock worth $6,766,000 after buying an additional 6,750 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of HollyFrontier Corp. by 83.7% in the first quarter. Nuveen Asset Management LLC now owns 142,485 shares of the company’s stock worth $5,033,000 after buying an additional 64,901 shares in the last quarter. 83.90% of the stock is owned by institutional investors.
About HollyFrontier Corp.
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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