$4.31 Billion in Sales Expected for HollyFrontier Corp (HFC) This Quarter

Wall Street brokerages predict that HollyFrontier Corp (NYSE:HFC) will announce sales of $4.31 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for HollyFrontier’s earnings, with estimates ranging from $3.98 billion to $5.06 billion. HollyFrontier posted sales of $2.96 billion in the same quarter last year, which suggests a positive year over year growth rate of 45.6%. The business is expected to announce its next earnings results before the market opens on Wednesday, February 21st.

According to Zacks, analysts expect that HollyFrontier will report full year sales of $4.31 billion for the current fiscal year, with estimates ranging from $13.69 billion to $15.32 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $14.62 billion per share, with estimates ranging from $13.77 billion to $15.25 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow HollyFrontier.

HollyFrontier (NYSE:HFC) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 EPS for the quarter, topping the 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 analysts’ expectations of $3.24 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. HollyFrontier’s quarterly revenue was up 30.6% on a year-over-year basis.

Several research analysts have commented on the stock. ValuEngine upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research cut shares of HollyFrontier from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada restated a “buy” rating and issued a $58.00 target price on shares of HollyFrontier in a research report on Tuesday. Jefferies Group assumed coverage on shares of HollyFrontier in a research report on Wednesday, January 24th. They issued an “underperform” rating and a $40.00 target price for the company. Finally, Macquarie upgraded shares of HollyFrontier from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 16th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $43.33.

In other news, Director James H. Lee sold 5,149 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $47.17, for a total value of $242,878.33. Following the completion of the sale, the director now directly owns 52,240 shares of the company’s stock, valued at approximately $2,464,160.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James M. Stump sold 30,000 shares of the stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $51.21, for a total transaction of $1,536,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,649 shares of company stock valued at $4,062,308. Company insiders own 0.51% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in HFC. M&T Bank Corp lifted its stake in HollyFrontier by 40.9% during the second quarter. M&T Bank Corp now owns 19,789 shares of the oil and gas company’s stock valued at $543,000 after purchasing an additional 5,744 shares during the last quarter. Nordea Investment Management AB lifted its stake in HollyFrontier by 21.3% during the second quarter. Nordea Investment Management AB now owns 9,148 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 1,608 shares during the last quarter. Advisor Group Inc. lifted its stake in HollyFrontier by 79.5% during the second quarter. Advisor Group Inc. now owns 23,364 shares of the oil and gas company’s stock valued at $620,000 after purchasing an additional 10,346 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in HollyFrontier by 7.5% during the second quarter. Parametric Portfolio Associates LLC now owns 663,146 shares of the oil and gas company’s stock valued at $18,217,000 after purchasing an additional 46,360 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in HollyFrontier by 1.7% during the second quarter. Voya Investment Management LLC now owns 49,682 shares of the oil and gas company’s stock valued at $1,365,000 after purchasing an additional 832 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

HollyFrontier (HFC) opened at $46.40 on Friday. HollyFrontier has a 1 year low of $23.46 and a 1 year high of $53.21. The company has a quick ratio of 0.98, a current ratio of 2.00 and a debt-to-equity ratio of 0.41. The company has a market cap of $8,441.75, a PE ratio of 24.42, a price-to-earnings-growth ratio of 1.31 and a beta of 1.12.

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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).

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