HollyFrontier Corp (HFC) Given “Neutral” Rating at Piper Jaffray Companies
HollyFrontier Corp (NYSE:HFC)‘s stock had its “neutral” rating reaffirmed by analysts at Piper Jaffray Companies in a research note issued to investors on Thursday.
A number of other analysts also recently issued reports on the company. Barclays PLC reissued an “overweight” rating and set a $37.00 price objective (down from $39.00) on shares of HollyFrontier Corp in a research report on Friday, April 14th. Scotiabank set a $29.00 price objective on HollyFrontier Corp and gave the stock a “hold” rating in a research report on Monday, March 27th. Credit Suisse Group AG downgraded HollyFrontier Corp from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $30.00 to $33.00 in a research report on Thursday, May 4th. Tudor Pickering downgraded HollyFrontier Corp from a “hold” rating to a “sell” rating in a research report on Monday, February 27th. Finally, Goldman Sachs Group Inc initiated coverage on HollyFrontier Corp in a research report on Monday, February 13th. They set a “sell” rating and a $26.00 price objective for the company. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.37.
HollyFrontier Corp (NYSE:HFC) traded down 2.45% on Thursday, hitting $25.51. 3,244,263 shares of the stock were exchanged. The firm’s market cap is $4.48 billion. HollyFrontier Corp has a 52-week low of $22.07 and a 52-week high of $34.78. The stock’s 50 day moving average price is $27.32 and its 200 day moving average price is $28.88.
HollyFrontier Corp (NYSE:HFC) last issued its quarterly earnings data on Wednesday, May 3rd. The oil and gas company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.08. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.66 billion. HollyFrontier Corp had a positive return on equity of 3.30% and a negative net margin of 3.40%. The firm’s revenue for the quarter was up 52.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 earnings per share. Equities research analysts forecast that HollyFrontier Corp will post $1.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 23rd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.17%. The ex-dividend date is Friday, May 19th. HollyFrontier Corp’s payout ratio is presently -65.02%.
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In other news, Director Michael Jennings sold 13,000 shares of HollyFrontier Corp stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $28.40, for a total value of $369,200.00. Following the completion of the transaction, the director now owns 49,727 shares in the company, valued at approximately $1,412,246.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.52% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Trust Co boosted its position in shares of HollyFrontier Corp by 33.4% in the fourth quarter. Trust Co now owns 16,495 shares of the oil and gas company’s stock valued at $540,000 after buying an additional 4,130 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of HollyFrontier Corp during the fourth quarter valued at about $2,246,000. GSA Capital Partners LLP bought a new position in shares of HollyFrontier Corp during the fourth quarter valued at about $213,000. Candriam Luxembourg S.C.A. boosted its position in shares of HollyFrontier Corp by 12.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 45,687 shares of the oil and gas company’s stock valued at $1,295,000 after buying an additional 5,237 shares during the last quarter. Finally, FMR LLC boosted its position in shares of HollyFrontier Corp by 43.0% in the fourth quarter. FMR LLC now owns 3,205,359 shares of the oil and gas company’s stock valued at $105,008,000 after buying an additional 963,700 shares during the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.
About HollyFrontier Corp
HollyFrontier Corporation is an independent petroleum refiner. The Company produces various light products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. It segments include Refining and Holly Energy Partners, L.P. (HEP). The Refining segment includes the operations of the Company’s El Dorado, Kansas (the El Dorado Refinery); refinery facilities located in Tulsa, Oklahoma (collectively, the Tulsa Refineries); a refinery in Artesia, New Mexico that is operated in conjunction with crude oil distillation and vacuum distillation and other facilities situated 65 miles away in Lovington, New Mexico (collectively, the Navajo Refinery); refinery located in Cheyenne, Wyoming (the Cheyenne Refinery); a refinery in Woods Cross, Utah (the Woods Cross Refinery), and HollyFrontier Asphalt Company (HFC Asphalt).
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