HollyFrontier Corporation (HFC) Stock Rating Lowered by J P Morgan Chase & Co
J P Morgan Chase & Co cut shares of HollyFrontier Corporation (NYSE:HFC) from a neutral rating to an underweight rating in a report released on Friday morning, Marketbeat Ratings reports. They currently have $34.00 target price on the oil and gas company’s stock, up from their previous target price of $33.00.
Several other research analysts have also commented on the stock. BidaskClub upgraded shares of HollyFrontier Corporation from a sell rating to a hold rating in a report on Saturday, June 24th. Royal Bank Of Canada restated a buy rating and issued a $38.00 price target on shares of HollyFrontier Corporation in a report on Friday, September 8th. Scotiabank set a $29.00 price target on shares of HollyFrontier Corporation and gave the company a hold rating in a report on Monday, June 26th. Zacks Investment Research upgraded shares of HollyFrontier Corporation from a sell rating to a hold rating in a report on Tuesday, August 1st. Finally, Simmons restated a neutral rating and issued a $25.00 price target (down previously from $27.00) on shares of HollyFrontier Corporation in a report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. HollyFrontier Corporation currently has a consensus rating of Hold and an average target price of $34.05.
HollyFrontier Corporation (HFC) opened at 36.18 on Friday. HollyFrontier Corporation has a one year low of $22.63 and a one year high of $37.00. The company has a 50 day moving average of $32.92 and a 200-day moving average of $28.68. The firm has a market cap of $6.35 billion, a PE ratio of 45.91 and a beta of 1.23.
HollyFrontier Corporation (NYSE:HFC) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the firm posted $0.28 earnings per share. HollyFrontier Corporation’s revenue for the quarter was up 27.4% compared to the same quarter last year. On average, equities research analysts predict that HollyFrontier Corporation will post $1.62 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.65%. HollyFrontier Corporation’s dividend payout ratio is currently 167.09%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Wedbush Securities Inc. raised 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 purchasing an additional 71 shares during the period. Utah Retirement Systems raised 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 purchasing an additional 100 shares during the period. Sheaff Brock Investment Advisors LLC raised 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 purchasing an additional 100 shares during the period. World Asset Management Inc raised 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 purchasing an additional 173 shares during the period. Finally, Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of HollyFrontier Corporation during the second quarter valued at approximately $204,000. Institutional investors own 82.47% of the company’s stock.
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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