HollyFrontier Corporation’s (HFC) “Buy” Rating Reaffirmed at Scotiabank
Scotiabank restated their buy rating on shares of HollyFrontier Corporation (NYSE:HFC) in a research report released on Friday morning. Scotiabank currently has a $33.00 target price on the oil and gas company’s stock.
A number of other equities research analysts also recently issued reports on the company. Barclays PLC reiterated an overweight rating and issued a $39.00 price objective (up previously from $37.00) on shares of HollyFrontier Corporation in a research report on Wednesday, August 9th. Royal Bank Of Canada reiterated an outperform rating and issued a $38.00 price objective (up previously from $36.00) on shares of HollyFrontier Corporation in a research report on Wednesday, August 9th. BidaskClub downgraded HollyFrontier Corporation from a buy rating to a hold rating in a research report on Friday, August 11th. Simmons reiterated a neutral rating and issued a $25.00 price objective (down previously from $27.00) on shares of HollyFrontier Corporation in a research report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded HollyFrontier Corporation from a sell rating to a hold rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $31.15.
HollyFrontier Corporation (NYSE:HFC) traded up 1.60% during trading on Friday, reaching $32.40. The company’s stock had a trading volume of 2,605,146 shares. The stock’s 50 day moving average is $29.52 and its 200 day moving average is $27.73. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 41.12 and a beta of 1.21. HollyFrontier Corporation has a 12 month low of $22.63 and a 12 month high of $34.78.
HollyFrontier Corporation (NYSE:HFC) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.24 billion. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The business’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share. On average, equities analysts expect that HollyFrontier Corporation will post $1.40 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.07%. HollyFrontier Corporation’s dividend payout ratio (DPR) is currently 167.09%.
Several large investors have recently made changes to their positions in the company. Wedbush Securities Inc. grew its stake in shares of HollyFrontier Corporation by 0.7% during the second quarter. Wedbush Securities Inc. now owns 10,875 shares of the oil and gas company’s stock valued at $299,000 after buying an additional 71 shares during the last quarter. Utah Retirement Systems grew its stake in shares of HollyFrontier Corporation by 0.3% during the first quarter. Utah Retirement Systems now owns 29,582 shares of the oil and gas company’s stock valued at $838,000 after buying an additional 100 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of HollyFrontier Corporation by 1.3% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 7,707 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 100 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of HollyFrontier Corporation by 0.6% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,037 shares of the oil and gas company’s stock valued at $710,000 after buying an additional 143 shares during the last quarter. Finally, World Asset Management Inc grew its stake in shares of HollyFrontier Corporation by 1.1% during the second quarter. World Asset Management Inc now owns 15,813 shares of the oil and gas company’s stock valued at $434,000 after buying an additional 173 shares during the last quarter. 83.84% of the stock is currently owned by hedge funds and other institutional investors.
HollyFrontier Corporation 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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