Brokerages Expect HollyFrontier Corporation (HFC) to Post $0.70 Earnings Per Share
Brokerages expect that HollyFrontier Corporation (NYSE:HFC) will announce earnings of $0.70 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for HollyFrontier Corporation’s earnings. The highest EPS estimate is $0.83 and the lowest is $0.55. HollyFrontier Corporation posted earnings of $0.38 per share during the same quarter last year, which would indicate a positive year over year growth rate of 84.2%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that HollyFrontier Corporation will report full year earnings of $1.24 per share for the current year, with EPS estimates ranging from $1.11 to $1.40. For the next year, analysts expect that the business will post earnings of $2.03 per share, with EPS estimates ranging from $1.04 to $3.08. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow HollyFrontier Corporation.
HollyFrontier Corporation (NYSE:HFC) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the previous year, the firm earned $0.28 EPS. The business’s quarterly revenue was up 27.4% on a year-over-year basis.
Several research firms recently commented on HFC. Royal Bank Of Canada reaffirmed a “buy” rating and set a $38.00 target price on shares of HollyFrontier Corporation in a report on Friday. Scotiabank reaffirmed a “buy” rating and set a $33.00 target price on shares of HollyFrontier Corporation in a report on Friday. BidaskClub lowered HollyFrontier Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Barclays PLC reaffirmed an “overweight” rating and set a $39.00 target price (up from $37.00) on shares of HollyFrontier Corporation in a report on Wednesday, August 9th. Finally, Zacks Investment Research raised HollyFrontier Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $31.15.
HollyFrontier Corporation (HFC) traded up 1.60% on Friday, hitting $32.40. The stock had a trading volume of 2,605,146 shares. HollyFrontier Corporation has a 12 month low of $22.63 and a 12 month high of $34.78. The stock has a market cap of $5.68 billion, a P/E ratio of 41.12 and a beta of 1.21. The company’s 50 day moving average is $29.52 and its 200-day moving average is $27.73.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd will be given a $0.33 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.32 annualized dividend and a dividend yield of 4.07%. HollyFrontier Corporation’s dividend payout ratio (DPR) is presently 167.09%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HFC. BlackRock Inc. lifted its position in shares of HollyFrontier Corporation by 7,017.5% in the first quarter. BlackRock Inc. now owns 21,293,640 shares of the oil and gas company’s stock valued at $603,462,000 after acquiring an additional 20,994,466 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of HollyFrontier Corporation by 129.6% in the second quarter. Principal Financial Group Inc. now owns 4,204,355 shares of the oil and gas company’s stock valued at $115,495,000 after acquiring an additional 2,373,560 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of HollyFrontier Corporation by 130.5% in the first quarter. Alliancebernstein L.P. now owns 3,475,785 shares of the oil and gas company’s stock valued at $98,504,000 after acquiring an additional 1,967,907 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of HollyFrontier Corporation by 57.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,295,800 shares of the oil and gas company’s stock valued at $150,077,000 after acquiring an additional 1,926,908 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of HollyFrontier Corporation by 256.6% in the first quarter. Ameriprise Financial Inc. now owns 1,979,489 shares of the oil and gas company’s stock valued at $56,099,000 after acquiring an additional 1,424,358 shares in the last quarter. Institutional investors and hedge funds own 83.84% of the company’s stock.
About HollyFrontier Corporation
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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