Jefferies Group Begins Coverage on HollyFrontier (HFC)

Equities researchers at Jefferies Group began coverage on shares of HollyFrontier (NYSE:HFC) in a research report issued on Wednesday, MarketBeat.com reports. The firm set an “underperform” rating and a $40.00 price target on the oil and gas company’s stock. Jefferies Group’s price objective indicates a potential downside of 18.05% from the stock’s current price. Jefferies Group also issued estimates for HollyFrontier’s Q4 2017 earnings at $0.97 EPS, Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.84 EPS, Q3 2018 earnings at $1.31 EPS, Q4 2018 earnings at $0.37 EPS, FY2018 earnings at $2.90 EPS, FY2019 earnings at $2.63 EPS, FY2020 earnings at $3.21 EPS, FY2021 earnings at $3.19 EPS and FY2022 earnings at $3.23 EPS.

A number of other equities research analysts also recently commented on the stock. Cowen reiterated a “hold” rating and set a $30.00 price target on shares of HollyFrontier in a report on Tuesday, October 17th. Zacks Investment Research upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Tuesday, October 17th. JPMorgan Chase & Co. downgraded shares of HollyFrontier from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $33.00 to $34.00 in a report on Friday, October 6th. Royal Bank of Canada lifted their price target on shares of HollyFrontier from $42.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $38.00 price target on shares of HollyFrontier in a report on Friday, November 17th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. HollyFrontier has a consensus rating of “Hold” and an average price target of $42.73.

HollyFrontier (NYSE:HFC) traded up $0.31 during trading hours on Wednesday, reaching $48.81. 2,101,415 shares of the company’s stock traded hands, compared to its average volume of 2,220,000. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.00 and a quick ratio of 0.98. HollyFrontier has a 52-week low of $23.46 and a 52-week high of $53.21. The stock has a market cap of $8,650.00, a P/E ratio of 25.69, a P/E/G ratio of 1.39 and a beta of 1.30.

HollyFrontier (NYSE:HFC) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.25. HollyFrontier had a net margin of 2.55% and a return on equity of 5.18%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 30.6% on a year-over-year basis. sell-side analysts predict that HollyFrontier will post 2.42 EPS for the current year.

In related news, CAO John W. Gann, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Saturday, November 10th. The shares were sold at an average price of $41.96, for a total value of $83,920.00. Following the sale, the chief accounting officer now directly owns 35,705 shares of the company’s stock, valued at $1,498,181.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James H. Lee sold 5,149 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $47.17, for a total transaction of $242,878.33. Following the completion of the sale, the director now directly owns 52,240 shares in the company, valued at $2,464,160.80. The disclosure for this sale can be found here. Insiders sold 82,649 shares of company stock worth $4,062,308 over the last three months. Corporate insiders own 0.51% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HFC. AXA acquired a new stake in shares of HollyFrontier in the second quarter worth approximately $417,000. Teachers Advisors LLC lifted its position in HollyFrontier by 3.9% during the second quarter. Teachers Advisors LLC now owns 426,925 shares of the oil and gas company’s stock valued at $11,728,000 after buying an additional 15,957 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in HollyFrontier by 8.0% during the second quarter. TIAA CREF Investment Management LLC now owns 499,447 shares of the oil and gas company’s stock valued at $13,720,000 after buying an additional 37,003 shares in the last quarter. Amalgamated Bank lifted its position in HollyFrontier by 34.1% during the second quarter. Amalgamated Bank now owns 34,730 shares of the oil and gas company’s stock valued at $954,000 after buying an additional 8,841 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in HollyFrontier by 4.8% during the second quarter. UBS Asset Management Americas Inc. now owns 572,678 shares of the oil and gas company’s stock valued at $15,731,000 after buying an additional 26,421 shares in the last quarter. 83.14% of the stock is currently owned by institutional investors and hedge funds.

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About HollyFrontier

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).

Analyst Recommendations for HollyFrontier (NYSE:HFC)

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