HollyFrontier Corporation (HFC) Receives “Buy” Rating from Royal Bank Of Canada
Royal Bank Of Canada reissued their buy rating on shares of HollyFrontier Corporation (NYSE:HFC) in a research note issued to investors on Wednesday. The firm currently has a $42.00 price target on the oil and gas company’s stock.
Several other equities analysts have also recently weighed in on the company. Cowen and Company reiterated a hold rating and set a $30.00 price objective on shares of HollyFrontier Corporation in a report on Tuesday. Zacks Investment Research upgraded HollyFrontier Corporation from a hold rating to a buy rating and set a $40.00 price objective on the stock in a report on Tuesday. Barclays PLC reiterated an overweight rating and set a $40.00 price objective (up previously from $39.00) on shares of HollyFrontier Corporation in a report on Tuesday, October 10th. Tudor Pickering raised HollyFrontier Corporation from a hold rating to a buy rating in a research report on Monday, October 9th. Finally, J P Morgan Chase & Co lowered HollyFrontier Corporation from a neutral rating to an underweight rating and lifted their target price for the company from $33.00 to $34.00 in a research report on Friday, October 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $34.62.
Shares of HollyFrontier Corporation (NYSE HFC) traded up 0.11% during trading on Wednesday, hitting $36.13. The stock had a trading volume of 1,158,746 shares. HollyFrontier Corporation has a 1-year low of $22.63 and a 1-year high of $37.00. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 45.85 and a beta of 1.23. The firm has a 50 day moving average of $34.30 and a 200 day moving average of $29.11.
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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the business posted $0.28 EPS. HollyFrontier Corporation’s revenue for the quarter was up 27.4% on a year-over-year basis. Analysts expect that HollyFrontier Corporation will post $1.76 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Monday, August 21st. HollyFrontier Corporation’s dividend payout ratio (DPR) is 167.09%.
Several large investors have recently bought and sold shares of HFC. AT Bancorp acquired a new position in shares of HollyFrontier Corporation during the 2nd quarter worth approximately $104,000. Toronto Dominion Bank increased its position in shares of HollyFrontier Corporation by 6.3% during the 2nd quarter. Toronto Dominion Bank now owns 3,994 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 235 shares during the last quarter. Ffcm LLC increased its position in shares of HollyFrontier Corporation by 2,500.0% during the 2nd quarter. Ffcm LLC now owns 4,628 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 4,450 shares during the last quarter. IFP Advisors Inc increased its position in shares of HollyFrontier Corporation by 304.6% during the 2nd quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 3,674 shares during the last quarter. Finally, GLG Partners LP acquired a new position in shares of HollyFrontier Corporation during the 2nd quarter worth approximately $202,000. 82.25% of the stock is currently 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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