HollyFrontier’s (HFC) Buy Rating Reiterated at Barclays
HollyFrontier (NYSE:HFC)‘s stock had its “buy” rating reaffirmed by stock analysts at Barclays in a report issued on Wednesday. They presently have a $65.00 target price on the oil and gas company’s stock. Barclays’ target price indicates a potential upside of 26.85% from the stock’s previous close.
HFC has been the subject of several other reports. Piper Jaffray Companies reiterated a “hold” rating and set a $38.00 target price on shares of HollyFrontier in a research report on Friday, November 17th. Macquarie reiterated an “underperform” rating on shares of HollyFrontier in a research report on Monday, October 23rd. Argus upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Monday, November 20th. Goldman Sachs Group upgraded shares of HollyFrontier from a “sell” rating to a “neutral” rating and set a $26.00 target price for the company in a research report on Thursday, November 2nd. Finally, Tudor Pickering upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating in a research report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. HollyFrontier has an average rating of “Hold” and a consensus price target of $42.71.
Shares of HollyFrontier (NYSE:HFC) traded down $0.02 during trading on Wednesday, reaching $51.24. 479,253 shares of the company’s stock traded hands, compared to its average volume of 2,340,000. HollyFrontier has a twelve month low of $23.46 and a twelve month high of $52.07. The company has a market capitalization of $9,080.00, a price-to-earnings ratio of 26.97, a PEG ratio of 1.70 and a beta of 1.30. The company has a current ratio of 2.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.41.
In other news, SVP James M. Stump sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $51.21, for a total value of $1,536,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Jennings sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $44.50, for a total transaction of $200,250.00. Following the completion of the sale, the director now owns 49,717 shares of the company’s stock, valued at $2,212,406.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,649 shares of company stock valued at $3,515,728. Company insiders own 0.51% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in HFC. Schwab Charles Investment Management Inc. lifted its holdings in shares of HollyFrontier by 17.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 924,264 shares of the oil and gas company’s stock worth $25,390,000 after acquiring an additional 135,085 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in shares of HollyFrontier in the second quarter worth $415,000. JPMorgan Chase & Co. increased its stake in shares of HollyFrontier by 52.9% in the second quarter. JPMorgan Chase & Co. now owns 1,494,747 shares of the oil and gas company’s stock worth $41,060,000 after buying an additional 517,129 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in shares of HollyFrontier by 1.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 7,707 shares of the oil and gas company’s stock worth $212,000 after buying an additional 100 shares during the period. Finally, AXA purchased a new position in shares of HollyFrontier in the second quarter worth $417,000. Hedge funds and other institutional investors own 83.21% of the company’s stock.
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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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