Wells Fargo & Company Increases HollyFrontier Corporation (HFC) Price Target to $40.00
HollyFrontier Corporation (NYSE:HFC) had its price objective lifted by equities researchers at Wells Fargo & Company from $33.00 to $40.00 in a research note issued to investors on Thursday. The brokerage currently has a “market perform” rating on the oil and gas company’s stock. Wells Fargo & Company’s price objective indicates a potential upside of 8.25% from the company’s previous close.
Several other brokerages have also issued reports on HFC. Cowen and Company reissued a “hold” rating and issued a $30.00 price target on shares of HollyFrontier Corporation in a report on Tuesday, October 17th. Scotiabank raised shares of HollyFrontier Corporation from an “outperform” rating to a “focus stock” rating and upped their target price for the stock from $33.00 to $39.00 in a research note on Saturday, September 30th. Zacks Investment Research raised shares of HollyFrontier Corporation from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday, October 17th. BidaskClub lowered shares of HollyFrontier Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Barclays PLC upped their target price on shares of HollyFrontier Corporation from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $35.89.
HollyFrontier Corporation (NYSE:HFC) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.25. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The firm’s revenue was up 30.6% on a year-over-year basis.
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Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of HollyFrontier Corporation by 7,017.5% in the 1st quarter. BlackRock Inc. now owns 21,293,640 shares of the oil and gas company’s stock valued at $603,462,000 after purchasing an additional 20,994,466 shares during the period. Vanguard Group Inc. raised its holdings in shares of HollyFrontier Corporation by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 15,844,018 shares of the oil and gas company’s stock valued at $435,236,000 after purchasing an additional 260,132 shares during the period. BlackRock Fund Advisors raised its holdings in shares of HollyFrontier Corporation by 2.7% in the 1st quarter. BlackRock Fund Advisors now owns 9,338,206 shares of the oil and gas company’s stock valued at $329,825,000 after purchasing an additional 249,872 shares during the period. State Street Corp raised its holdings in shares of HollyFrontier Corporation by 3.9% in the 2nd quarter. State Street Corp now owns 8,194,765 shares of the oil and gas company’s stock valued at $225,091,000 after purchasing an additional 311,196 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of HollyFrontier Corporation by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,412,302 shares of the oil and gas company’s stock valued at $148,687,000 after purchasing an additional 116,502 shares during the period. 82.27% of the stock is currently owned by institutional investors.
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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