HollyFrontier Corporation’s (NYSE:HFC) “Neutral” Rating Reaffirmed at Simmons
Simmons restated their neutral rating on shares of HollyFrontier Corporation (NYSE:HFC) in a research report report published on Wednesday, July 12th. The brokerage currently has a $25.00 price objective on the oil and gas company’s stock, down from their prior price objective of $27.00.
Several other equities analysts have also issued reports on the company. BidaskClub upgraded HollyFrontier Corporation from a hold rating to a buy rating in a research note on Friday, June 30th. Scotiabank set a $29.00 price target on HollyFrontier Corporation and gave the stock a hold rating in a report on Monday, June 26th. Royal Bank Of Canada reaffirmed a buy rating and set a $37.00 target price on shares of HollyFrontier Corporation in a report on Thursday, June 15th. Zacks Investment Research downgraded HollyFrontier Corporation from a hold rating to a sell rating in a report on Monday, June 5th. Finally, Piper Jaffray Companies reiterated a neutral rating on shares of HollyFrontier Corporation in a research report on Thursday, May 25th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $30.32.
HollyFrontier Corporation (HFC) opened at 30.49 on Wednesday. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 38.64 and a beta of 1.24. The firm has a 50 day moving average of $27.28 and a 200-day moving average of $27.63. HollyFrontier Corporation has a 1-year low of $22.63 and a 1-year high of $34.78.
HollyFrontier Corporation (NYSE:HFC) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.46 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.24 billion. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. On average, equities research analysts anticipate that HollyFrontier Corporation will post $1.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd will be issued a $0.33 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.33%. HollyFrontier Corporation’s payout ratio is currently 167.09%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in HollyFrontier Corporation by 7,017.5% in the first quarter. BlackRock Inc. now owns 21,293,640 shares of the oil and gas company’s stock worth $603,462,000 after buying an additional 20,994,466 shares in the last quarter. Vanguard Group Inc. increased its position in HollyFrontier Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 15,583,886 shares of the oil and gas company’s stock worth $441,649,000 after buying an additional 634,370 shares in the last quarter. State Street Corp increased its position in HollyFrontier Corporation by 4.1% in the first quarter. State Street Corp now owns 7,883,569 shares of the oil and gas company’s stock worth $223,408,000 after buying an additional 308,388 shares in the last quarter. Dimensional Fund Advisors LP increased its position in HollyFrontier Corporation by 57.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,295,800 shares of the oil and gas company’s stock worth $150,077,000 after buying an additional 1,926,908 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in HollyFrontier Corporation by 130.5% in the first quarter. Alliancebernstein L.P. now owns 3,475,785 shares of the oil and gas company’s stock worth $98,504,000 after buying an additional 1,967,907 shares in the last quarter. Institutional investors and hedge funds own 84.94% of the company’s stock.
About HollyFrontier Corporation
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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