HollyFrontier Corp. (HFC) Receives “Overweight” Rating from Barclays PLC
Barclays PLC reaffirmed their overweight rating on shares of HollyFrontier Corp. (NYSE:HFC) in a research note published on Monday morning. Barclays PLC currently has a $35.00 price objective on the stock, up from their prior price objective of $32.00.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of HollyFrontier Corp. from a hold rating to a sell rating in a research report on Wednesday, October 5th. Piper Jaffray Cos. lowered their price target on shares of HollyFrontier Corp. from $27.00 to $26.00 and set a neutral rating for the company in a research report on Friday, September 16th. Morgan Stanley reiterated a sell rating and set a $26.00 price target on shares of HollyFrontier Corp. in a research report on Thursday, September 1st. Vetr upgraded shares of HollyFrontier Corp. from a hold rating to a buy rating and set a $27.50 price target for the company in a research report on Monday, August 22nd. Finally, Simmons reiterated a neutral rating and set a $24.00 price target (up previously from $20.00) on shares of HollyFrontier Corp. in a research report on Friday, August 5th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $36.28.
HollyFrontier Corp. (NYSE:HFC) opened at 25.21 on Monday. The stock’s market capitalization is $4.43 billion. HollyFrontier Corp. has a 52 week low of $22.07 and a 52 week high of $52.30. The stock’s 50 day moving average is $25.20 and its 200-day moving average is $27.60.
HollyFrontier Corp. (NYSE:HFC) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by $0.04. HollyFrontier Corp. had a positive return on equity of 8.00% and a negative net margin of 2.09%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The firm’s quarterly revenue was down 26.7% compared to the same quarter last year. Equities research analysts forecast that HollyFrontier Corp. will post $0.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Tuesday, August 23rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $1.32 annualized dividend and a yield of 5.22%. HollyFrontier Corp.’s dividend payout ratio is -93.62%.
Large investors have recently bought and sold shares of the company. First National Bank of Mount Dora Trust Investment Services boosted its position in HollyFrontier Corp. by 127.9% in the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 74,822 shares of the company’s stock worth $1,833,000 after buying an additional 41,992 shares during the period. Macquarie Group Ltd. boosted its position in HollyFrontier Corp. by 56.8% in the second quarter. Macquarie Group Ltd. now owns 86,700 shares of the company’s stock worth $2,060,000 after buying an additional 31,400 shares during the period. Nomura Holdings Inc. bought a new position in HollyFrontier Corp. during the second quarter worth approximately $283,000. Mason Street Advisors LLC bought a new position in HollyFrontier Corp. during the second quarter worth approximately $1,906,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in HollyFrontier Corp. by 143.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,869 shares of the company’s stock worth $164,000 after buying an additional 4,049 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.
About HollyFrontier Corp.
HollyFrontier Corporation (HollyFrontier) is an independent petroleum refiner. The Company produces various refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. The Company operates through two segments: Refining and Holly Energy Partners, L.P.
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