HollyFrontier Corporation (HFC) Earns “Buy” Rating from Barclays PLC
HollyFrontier Corporation (NYSE:HFC)‘s stock had its “buy” rating reissued by equities research analysts at Barclays PLC in a research note issued on Wednesday. They presently have a $41.00 price objective on the stock. Barclays PLC’s price objective indicates a potential upside of 33.51% from the company’s previous close.
HFC has been the subject of a number of other research reports. Howard Weil downgraded shares of HollyFrontier Corporation from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $29.00 to $24.00 in a research report on Wednesday, October 19th. Vetr downgraded shares of HollyFrontier Corporation from a “strong-buy” rating to a “sell” rating and set a $23.33 target price for the company. in a research report on Monday, October 24th. Tudor Pickering raised shares of HollyFrontier Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, November 1st. Royal Bank Of Canada increased their target price on shares of HollyFrontier Corporation from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 1st. Finally, RBC Capital Markets reaffirmed a “buy” rating and issued a $42.00 price objective on shares of HollyFrontier Corporation in a research report on Tuesday, January 3rd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. HollyFrontier Corporation presently has a consensus rating of “Hold” and a consensus target price of $31.97.
Shares of HollyFrontier Corporation (NYSE:HFC) traded up 1.11% on Wednesday, reaching $31.05. 2,226,653 shares of the company were exchanged. The stock’s market capitalization is $5.46 billion. HollyFrontier Corporation has a 1-year low of $22.07 and a 1-year high of $39.17. The company has a 50-day moving average price of $31.49 and a 200 day moving average price of $26.61.
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HollyFrontier Corporation (NYSE:HFC) last posted its earnings results on Thursday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. The firm earned $2.85 billion during the quarter, compared to the consensus estimate of $2.60 billion. HollyFrontier Corporation had a negative net margin of 3.40% and a positive return on equity of 3.30%. The company’s revenue was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 EPS. On average, analysts forecast that HollyFrontier Corporation will post $0.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Monday, November 28th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Wednesday, November 23rd. HollyFrontier Corporation’s payout ratio is -65.02%.
In other HollyFrontier Corporation news, insider Michael Jennings sold 6,529 shares of the firm’s stock in a transaction on Thursday, December 22nd. The stock was sold at an average price of $32.18, for a total value of $210,103.22. Following the sale, the insider now directly owns 62,727 shares in the company, valued at $2,018,554.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James H. Lee sold 2,730 shares of the firm’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $31.72, for a total value of $86,595.60. Following the completion of the sale, the director now owns 54,199 shares in the company, valued at $1,719,192.28. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC bought a new stake in HollyFrontier Corporation during the third quarter worth about $110,000. Assetmark Inc. boosted its stake in HollyFrontier Corporation by 5.6% in the third quarter. Assetmark Inc. now owns 5,021 shares of the company’s stock worth $123,000 after buying an additional 265 shares during the last quarter. TLP Group LLC acquired a new position in shares of HollyFrontier Corporation during the third quarter worth approximately $134,000. Bellwether Investment Group LLC acquired a new position in shares of HollyFrontier Corporation during the second quarter worth approximately $139,000. Finally, Van ECK Associates Corp raised its position in shares of HollyFrontier Corporation by 8.9% in the second quarter. Van ECK Associates Corp now owns 8,065 shares of the company’s stock worth $192,000 after buying an additional 660 shares during the period. Institutional investors own 83.47% of the company’s stock.
HollyFrontier Corporation 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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