HollyFrontier Corp. (HFC) Receives Average Recommendation of “Hold” from Brokerages
Shares of HollyFrontier Corp. (NYSE:HFC) have been given an average recommendation of “Hold” by the twenty brokerages that are presently covering the stock. Five equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $33.19.
HFC has been the subject of a number of research reports. Vetr cut shares of HollyFrontier Corp. from a “strong-buy” rating to a “buy” rating and set a $28.32 target price for the company. in a report on Wednesday, August 3rd. Barclays PLC reiterated a “buy” rating and issued a $32.00 price target on shares of HollyFrontier Corp. in a research report on Friday, August 26th. Zacks Investment Research upgraded shares of HollyFrontier Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Credit Suisse Group AG reiterated a “hold” rating and issued a $32.00 price target 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 decreased their price target for the stock from $53.00 to $30.00 in a research report on Tuesday, July 12th.
HollyFrontier Corp. (NYSE:HFC) traded down 3.004% during mid-day trading on Wednesday, hitting $23.085. 2,177,985 shares of the stock were exchanged. The stock’s market capitalization is $4.06 billion. 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 of $24.84 and a 200-day moving average of $27.17.
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HollyFrontier Corp. (NYSE:HFC) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ 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 firm’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same quarter last year, the company earned $1.88 EPS. On average, equities analysts predict that HollyFrontier Corp. will post $0.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Tuesday, August 23rd were paid a $0.33 dividend. The ex-dividend date was Friday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.55%. HollyFrontier Corp.’s payout ratio is currently -93.62%.
Several institutional investors have recently modified their holdings of HFC. Kleinwort Benson Investors Dublin Ltd purchased a new stake in HollyFrontier Corp. during the second quarter valued at about $67,706,000. Old Mutual Global Investors UK Ltd. raised its stake in HollyFrontier Corp. by 139.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,701,297 shares of the company’s stock valued at $40,439,000 after buying an additional 991,853 shares during the period. Edge Asset Management Inc. raised its stake in HollyFrontier Corp. by 40.6% in the second quarter. Edge Asset Management Inc. now owns 2,731,860 shares of the company’s stock valued at $64,936,000 after buying an additional 788,402 shares during the period. First Trust Advisors LP raised its stake in HollyFrontier Corp. by 69.8% in the second quarter. First Trust Advisors LP now owns 1,674,751 shares of the company’s stock valued at $39,809,000 after buying an additional 688,278 shares during the period. Finally, BlackRock Fund Advisors raised its stake in HollyFrontier Corp. by 5.6% in the second quarter. BlackRock Fund Advisors now owns 9,865,424 shares of the company’s stock valued at $234,501,000 after buying an additional 527,218 shares during the period. 83.78% of the stock is owned by institutional investors and hedge funds.
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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