HollyFrontier Corp. (HFC) Lowered to “Sell” at Zacks Investment Research
HollyFrontier Corp. (NYSE:HFC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
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. “
Several other equities analysts also recently weighed in on HFC. JPMorgan Chase & Co. cut their target price on HollyFrontier Corp. from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, June 10th. Morgan Stanley downgraded HollyFrontier Corp. from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $41.00 to $26.00 in a research report on Friday, June 17th. Wolfe Research downgraded HollyFrontier Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, June 20th. Simmons reaffirmed a “neutral” rating and issued a $24.00 price objective (down previously from $26.00) on shares of HollyFrontier Corp. in a research report on Wednesday, June 29th. Finally, Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of HollyFrontier Corp. in a research report on Wednesday, June 29th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $36.09.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/hollyfrontier-corp-hfc-lowered-to-sell-at-zacks-investment-research.html
Shares of HollyFrontier Corp. (NYSE:HFC) traded down 4.84% during trading on Wednesday, hitting $24.79. The stock had a trading volume of 5,121,813 shares. The stock has a 50-day moving average price of $25.25 and a 200 day moving average price of $27.80. HollyFrontier Corp. has a 12 month low of $22.07 and a 12 month high of $52.30. The company’s market cap is $4.36 billion.
HollyFrontier Corp. (NYSE:HFC) last released its earnings results 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. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.35 billion. HollyFrontier Corp. had a negative net margin of 2.09% and a positive return on equity of 8.00%. The business’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. Equities analysts expect that HollyFrontier Corp. will post $0.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Tuesday, August 23rd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend was Friday, August 19th. HollyFrontier Corp.’s dividend payout ratio (DPR) is currently -93.62%.
Large investors have recently modified their holdings of the company. Assetmark Inc. bought a new stake in shares of HollyFrontier Corp. during the second quarter worth $113,000. Bellwether Investment Group LLC acquired a new stake in HollyFrontier Corp. during the second quarter worth approximately $139,000. Acrospire Investment Management LLC acquired a new stake in HollyFrontier Corp. during the first quarter worth approximately $240,000. Northwestern Mutual Wealth Management Co. boosted 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 period. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in HollyFrontier Corp. during the first quarter worth approximately $273,000. Hedge funds and other institutional investors own 83.83% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for HollyFrontier Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HollyFrontier Corp. and related companies with MarketBeat.com's FREE daily email newsletter.