HollyFrontier Corp. (HFC) Downgraded by Howard Weil
HollyFrontier Corp. (NYSE:HFC) was downgraded by analysts at Howard Weil from a “sector outperform” rating to a “sector perform” rating in a research report issued on Wednesday. They currently have a $24.00 price objective on the stock, down from their previous price objective of $29.00. Howard Weil’s price target would indicate a potential upside of 0.84% from the stock’s previous close.
Other research analysts have also issued research reports about the stock. Vetr lowered shares of HollyFrontier Corp. from a “strong-buy” rating to a “buy” rating and set a $28.32 price objective for the company. in a research note on Wednesday, August 3rd. Barclays PLC reiterated a “buy” rating and set a $32.00 price objective on shares of HollyFrontier Corp. in a research note on Friday, August 26th. Zacks Investment Research raised shares of HollyFrontier Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Credit Suisse Group AG reissued a “hold” rating and set a $32.00 target price on shares of HollyFrontier Corp. in a research report on Thursday, July 14th. Finally, Deutsche Bank AG downgraded shares of HollyFrontier Corp. from a “buy” rating to a “hold” rating and dropped their target price for the stock from $53.00 to $30.00 in a research report on Tuesday, July 12th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $34.84.
HollyFrontier Corp. (NYSE:HFC) opened at 23.80 on Wednesday. The company’s market capitalization is $4.18 billion. 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 $24.83 and a 200 day moving average of $27.17.
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HollyFrontier Corp. (NYSE:HFC) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by $0.04. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.35 billion. HollyFrontier Corp. had a positive return on equity of 8.00% and a negative net margin of 2.09%. The company’s revenue was down 26.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.88 EPS. Equities analysts predict that HollyFrontier Corp. will post $0.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Tuesday, August 23rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date of this dividend was Friday, August 19th. HollyFrontier Corp.’s dividend payout ratio (DPR) is currently -93.62%.
Several hedge funds have recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in shares of HollyFrontier Corp. during the second quarter valued at $113,000. Bellwether Investment Group LLC purchased a new stake in shares of HollyFrontier Corp. during the second quarter valued at $139,000. Northwestern Mutual Wealth Management Co. raised 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 valued at $164,000 after buying an additional 4,049 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of HollyFrontier Corp. by 8.9% in the second quarter. Van ECK Associates Corp now owns 8,065 shares of the company’s stock valued at $192,000 after buying an additional 660 shares during the last quarter. Finally, GAM Holding AG raised its stake in shares of HollyFrontier Corp. by 70.2% in the second quarter. GAM Holding AG now owns 8,296 shares of the company’s stock valued at $197,000 after buying an additional 3,421 shares during the last quarter. 83.78% of the stock is currently 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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