HollyFrontier Corp (HFC) Receives $32.37 Consensus Target Price from Analysts
Shares of HollyFrontier Corp (NYSE:HFC) have received an average recommendation of “Hold” from the seventeen brokerages that are currently covering the company. Five investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $32.95.
Several equities research analysts have commented on HFC shares. Scotiabank set a $29.00 price target on HollyFrontier Corp and gave the stock a “hold” rating in a research note on Monday, March 27th. Barclays PLC increased their target price on HollyFrontier Corp from $58.00 to $63.00 and gave the company a “hold” rating in a research note on Monday, April 17th. US Capital Advisors reiterated a “hold” rating on shares of HollyFrontier Corp in a research note on Monday, May 22nd. Piper Jaffray Companies reiterated a “neutral” rating on shares of HollyFrontier Corp in a research note on Thursday. Finally, Credit Suisse Group AG lowered HollyFrontier Corp from an “outperform” rating to a “neutral” rating and increased their target price for the company from $30.00 to $33.00 in a research note on Thursday, May 4th.
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HollyFrontier Corp (NYSE:HFC) traded down 2.90% during trading on Monday, reaching $24.77. The company’s stock had a trading volume of 2,670,014 shares. The company’s 50-day moving average is $27.23 and its 200-day moving average is $28.86. HollyFrontier Corp has a 1-year low of $22.07 and a 1-year high of $34.78. The company’s market capitalization is $4.35 billion.
HollyFrontier Corp (NYSE:HFC) last announced its quarterly earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.08. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.66 billion. HollyFrontier Corp had a positive return on equity of 3.30% and a negative net margin of 3.40%. The business’s revenue was up 52.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. Equities analysts anticipate that HollyFrontier Corp will post $1.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Tuesday, May 23rd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend is Friday, May 19th. HollyFrontier Corp’s dividend payout ratio is presently -65.02%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perkins Investment Management LLC increased its position in HollyFrontier Corp by 24.9% in the third quarter. Perkins Investment Management LLC now owns 2,462,633 shares of the oil and gas company’s stock worth $60,335,000 after buying an additional 490,832 shares in the last quarter. Advantus Capital Management Inc increased its stake in shares of HollyFrontier Corp by 0.9% in the third quarter. Advantus Capital Management Inc now owns 21,484 shares of the oil and gas company’s stock valued at $526,000 after buying an additional 193 shares during the period. Natixis Asset Management increased its stake in shares of HollyFrontier Corp by 156.7% in the third quarter. Natixis Asset Management now owns 45,514 shares of the oil and gas company’s stock valued at $1,115,000 after buying an additional 27,787 shares during the period. HighTower Advisors LLC increased its stake in shares of HollyFrontier Corp by 17.9% in the third quarter. HighTower Advisors LLC now owns 111,748 shares of the oil and gas company’s stock valued at $2,728,000 after buying an additional 16,935 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of HollyFrontier Corp by 0.8% in the third quarter. Hsbc Holdings PLC now owns 220,861 shares of the oil and gas company’s stock valued at $5,376,000 after buying an additional 1,832 shares during the period. 80.52% of the stock is currently owned by institutional investors.
About HollyFrontier Corp
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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