HollyFrontier Corporation (HFC) Posts Earnings Results
HollyFrontier Corporation (NYSE:HFC) posted its earnings results on Wednesday. The oil and gas company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.25, Briefing.com reports. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 30.6% on a year-over-year basis.
A number of research firms have weighed in on HFC. Barclays PLC began coverage on HollyFrontier Corporation in a report on Thursday. They set an “overweight” rating on the stock. Goldman Sachs Group, Inc. (The) upgraded HollyFrontier Corporation from a “sell” rating to a “neutral” rating in a report on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and set a $38.00 target price (up previously from $36.00) on shares of HollyFrontier Corporation in a report on Wednesday, August 9th. BidaskClub downgraded HollyFrontier Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, Howard Weil upped their target price on HollyFrontier Corporation from $33.00 to $39.00 and gave the stock a “focus list” rating in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. HollyFrontier Corporation currently has a consensus rating of “Hold” and a consensus price target of $34.62.
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HollyFrontier Corporation Company Profile
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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