Royal Bank Of Canada Reiterates “Buy” Rating for HollyFrontier Corporation (HFC)
HollyFrontier Corporation (NYSE:HFC)‘s stock had its “buy” rating reissued by equities researchers at Royal Bank Of Canada in a research note issued to investors on Friday. They currently have a $38.00 price objective on the oil and gas company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 17.28% from the stock’s previous close.
A number of other research analysts have also commented on HFC. US Capital Advisors reiterated a “hold” rating on shares of HollyFrontier Corporation in a report on Monday, May 22nd. Piper Jaffray Companies reiterated a “neutral” rating on shares of HollyFrontier Corporation in a report on Thursday, May 25th. Zacks Investment Research lowered HollyFrontier Corporation from a “hold” rating to a “sell” rating in a report on Monday, June 5th. BidaskClub upgraded HollyFrontier Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Scotiabank set a $29.00 price target on HollyFrontier Corporation and gave the stock a “hold” rating in a report on Monday, June 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.15.
Shares of HollyFrontier Corporation (NYSE:HFC) opened at 32.40 on Friday. HollyFrontier Corporation has a 52 week low of $22.63 and a 52 week high of $34.78. The company has a 50 day moving average of $29.52 and a 200-day moving average of $27.73. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 41.12 and a beta of 1.21.
HollyFrontier Corporation (NYSE:HFC) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.20. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. On average, equities research analysts expect that HollyFrontier Corporation will post $1.40 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of HFC. AT Bancorp acquired a new position in shares of HollyFrontier Corporation in the second quarter valued at $104,000. Toronto Dominion Bank raised its stake in shares of HollyFrontier Corporation by 11.3% in the first quarter. Toronto Dominion Bank now owns 3,759 shares of the oil and gas company’s stock valued at $107,000 after purchasing an additional 382 shares in the last quarter. Ffcm LLC raised its stake in shares of HollyFrontier Corporation by 2,500.0% in the second quarter. Ffcm LLC now owns 4,628 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 4,450 shares in the last quarter. IFP Advisors Inc raised its stake in shares of HollyFrontier Corporation by 304.6% in the second quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 3,674 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of HollyFrontier Corporation by 18.1% in the first quarter. Van ECK Associates Corp now owns 7,001 shares of the oil and gas company’s stock valued at $198,000 after purchasing an additional 1,073 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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