HollyFrontier Corporation (HFC) Reaches New 12-Month High at $35.10
HollyFrontier Corporation (NYSE:HFC) shares hit a new 52-week high during trading on Monday . The stock traded as high as $35.10 and last traded at $35.16, with a volume of 1,189,838 shares traded. The stock had previously closed at $34.24.
HFC has been the topic of several recent analyst reports. Zacks Investment Research downgraded HollyFrontier Corporation from a “hold” rating to a “sell” rating in a research report on Monday, June 5th. BidaskClub downgraded HollyFrontier Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Barclays PLC boosted their price objective on HollyFrontier Corporation from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Scotiabank restated a “buy” rating and set a $33.00 price objective on shares of HollyFrontier Corporation in a research report on Friday, September 8th. Finally, Royal Bank Of Canada boosted their price objective on HollyFrontier Corporation from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $31.72.
The company has a market cap of $6.21 billion, a price-to-earnings ratio of 44.956 and a beta of 1.21. The company’s 50 day moving average is $30.42 and its 200 day moving average is $27.91.
HollyFrontier Corporation (NYSE:HFC) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.24 billion. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The firm’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS. On average, equities research analysts forecast that HollyFrontier Corporation will post $1.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.32 annualized dividend and a yield of 3.86%. HollyFrontier Corporation’s dividend payout ratio (DPR) is 167.09%.
Several institutional investors and hedge funds have recently made changes to their positions in HFC. World Asset Management Inc lifted its position in shares of HollyFrontier Corporation by 1.8% in the 1st quarter. World Asset Management Inc now owns 15,640 shares of the oil and gas company’s stock worth $443,000 after purchasing an additional 280 shares during the period. UBS Asset Management Americas Inc. lifted its position in shares of HollyFrontier Corporation by 14.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 546,257 shares of the oil and gas company’s stock worth $15,481,000 after purchasing an additional 67,870 shares during the period. Karp Capital Management Corp purchased a new stake in shares of HollyFrontier Corporation in the 1st quarter worth approximately $1,312,000. State of Wisconsin Investment Board lifted its position in shares of HollyFrontier Corporation by 19.6% in the 1st quarter. State of Wisconsin Investment Board now owns 105,650 shares of the oil and gas company’s stock worth $2,994,000 after purchasing an additional 17,342 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of HollyFrontier Corporation by 0.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 351,369 shares of the oil and gas company’s stock worth $9,958,000 after purchasing an additional 1,461 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.
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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