Investors Buy HollyFrontier Corp. (HFC) on Weakness
Traders bought shares of HollyFrontier Corp. (NYSE:HFC) on weakness during trading hours on Wednesday. $19.25 million flowed into the stock on the tick-up and $15.32 million flowed out of the stock on the tick-down, for a money net flow of $3.93 million into the stock. Of all companies tracked, HollyFrontier Corp. had the 20th highest net in-flow for the day. HollyFrontier Corp. traded down ($0.23) for the day and closed at $24.56
HFC has been the topic of several recent analyst reports. Morgan Stanley reaffirmed a “sell” rating and set a $26.00 target price on shares of HollyFrontier Corp. in a research report on Thursday, September 1st. TheStreet lowered HollyFrontier Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Wolfe Research lowered HollyFrontier Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, June 20th. Deutsche Bank AG lowered HollyFrontier Corp. from a “buy” rating to a “hold” rating and reduced their target price for the company from $53.00 to $30.00 in a research report on Tuesday, July 12th. Finally, Barclays PLC reissued a “buy” rating and issued a $32.00 price objective on shares of HollyFrontier Corp. in a report on Friday, August 26th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $36.09.
The firm’s market cap is $4.32 billion. The stock has a 50-day moving average price of $25.99 and a 200 day moving average price of $28.70.
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HollyFrontier Corp. (NYSE:HFC) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.04. The business had revenue of $2.71 billion for 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 firm’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period last year, the firm earned $1.88 earnings per share. Analysts forecast that HollyFrontier Corp. will post $0.80 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Tuesday, August 23rd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend is Friday, August 19th. HollyFrontier Corp.’s dividend payout ratio (DPR) is -93.62%.
A number of hedge funds have recently made changes to their positions in HFC. Assetmark Inc. acquired a new stake in shares of HollyFrontier Corp. during the second quarter worth about $113,000. Bellwether Investment Group LLC acquired a new stake in shares of HollyFrontier Corp. during the second quarter worth about $139,000. Acrospire Investment Management LLC acquired a new stake in shares of HollyFrontier Corp. during the first quarter worth about $240,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 period. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of HollyFrontier Corp. during the first quarter worth about $273,000. 83.83% of the stock is owned by institutional investors.
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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