HollyFrontier (HFC) Lifted to Strong-Buy at Zacks Investment Research

HollyFrontier (NYSE:HFC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday. The firm currently has a $51.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.43% from the stock’s current price.

According to Zacks, “HollyFrontier is one of the largest independent oil refiners in the U.S. with the capability to process a wide mix of crude. While its access to some of the fastest growing domestic markets bode well for the downstream operator, the Petro-Canada Lubricants acquisition has helped HollyFrontier expand into a high-margin, less competitive business. A strong financial position and attractive yields are other positives in the HFC story. Finally, we expect improving refining outlook to buoy the company’s bottom line in the fourth quarter of 2017. Consequently, we think HollyFrontier offers substantial upside potential from the current price levels and view it as a preferred energy play to own now.”

A number of other brokerages have also recently weighed in on HFC. Cowen restated a “hold” rating and issued a $30.00 price objective on shares of HollyFrontier in a report on Tuesday, October 17th. Bank of America cut shares of HollyFrontier from a “neutral” rating to an “underperform” rating in a report on Friday, December 8th. Royal Bank of Canada restated a “buy” rating and issued a $58.00 price objective on shares of HollyFrontier in a report on Tuesday, January 30th. ValuEngine upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Finally, Howard Weil cut shares of HollyFrontier from a “focus list” rating to an “outperform” rating in a report on Friday, December 22nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $42.93.

Shares of HollyFrontier (HFC) traded up $0.23 during mid-day trading on Tuesday, hitting $44.96. 871,963 shares of the company were exchanged, compared to its average volume of 2,490,000. 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 firm has a market capitalization of $7,970.00, a PE ratio of 23.66, a P/E/G ratio of 1.23 and a beta of 1.12. HollyFrontier has a 52-week low of $23.46 and a 52-week high of $53.21.

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 transaction of $1,536,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 sale, the director now owns 49,717 shares of the company’s stock, valued at approximately $2,212,406.50. The disclosure for this sale can be found here. Insiders sold 69,649 shares of company stock valued at $3,515,728 in the last quarter. 0.51% of the stock is owned by insiders.

Several large investors have recently modified their holdings of HFC. Acadian Asset Management LLC lifted its position in shares of HollyFrontier by 414.4% during the 4th quarter. Acadian Asset Management LLC now owns 1,266,003 shares of the oil and gas company’s stock worth $64,844,000 after buying an additional 1,019,905 shares during the last quarter. American Century Companies Inc. lifted its position in shares of HollyFrontier by 148.2% during the 3rd quarter. American Century Companies Inc. now owns 1,603,606 shares of the oil and gas company’s stock worth $57,682,000 after buying an additional 957,494 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of HollyFrontier during the 4th quarter worth approximately $36,755,000. APG Asset Management N.V. lifted its position in shares of HollyFrontier by 48.4% during the 4th quarter. APG Asset Management N.V. now owns 2,065,017 shares of the oil and gas company’s stock worth $88,083,000 after buying an additional 673,300 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of HollyFrontier by 1,974.5% during the 2nd quarter. Janus Henderson Group PLC now owns 638,955 shares of the oil and gas company’s stock worth $17,552,000 after buying an additional 608,155 shares during the last quarter. Institutional investors and hedge funds own 84.51% of the company’s stock.

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HollyFrontier 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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