Tudor Pickering Lowers HollyFrontier (HFC) to Hold
Tudor Pickering downgraded shares of HollyFrontier (NYSE:HFC) from a buy rating to a hold rating in a research note issued to investors on Wednesday, The Fly reports.
Other equities research analysts also recently issued reports about the stock. TheStreet upgraded shares of HollyFrontier from a c+ rating to a b rating in a research report on Wednesday, November 1st. BidaskClub upgraded shares of HollyFrontier from a hold rating to a buy rating in a report on Saturday, August 5th. Royal Bank Of Canada restated a buy rating and set a $38.00 price target on shares of HollyFrontier in a report on Friday, September 8th. Scotiabank restated a buy rating and set a $33.00 price target on shares of HollyFrontier in a report on Friday, September 8th. Finally, Zacks Investment Research upgraded shares of HollyFrontier from a hold rating to a buy rating and set a $40.00 price target for the company in a report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and a consensus target price of $38.59.
HollyFrontier (NYSE:HFC) traded down $0.23 during trading hours on Wednesday, reaching $44.25. 2,458,731 shares of the company traded hands, compared to its average volume of 2,455,499. The company has a current ratio of 2.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.41. HollyFrontier has a twelve month low of $23.46 and a twelve month high of $45.33. The firm has a market cap of $7,885.11, a P/E ratio of 28.70, a PEG ratio of 2.05 and a beta of 1.30.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 21st will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, November 20th. This represents a $1.32 annualized dividend and a yield of 2.98%. HollyFrontier’s payout ratio is 69.47%.
In other news, Director Michael Jennings sold 4,500 shares of HollyFrontier stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $44.50, for a total value of $200,250.00. Following the completion of the sale, the director now owns 49,717 shares in the company, valued at approximately $2,212,406.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.51% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of HollyFrontier by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 15,844,018 shares of the oil and gas company’s stock valued at $435,236,000 after acquiring an additional 260,132 shares in the last quarter. State Street Corp increased its stake in shares of HollyFrontier by 3.9% in the 2nd quarter. State Street Corp now owns 8,194,765 shares of the oil and gas company’s stock valued at $225,091,000 after acquiring an additional 311,196 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of HollyFrontier by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,412,302 shares of the oil and gas company’s stock valued at $148,687,000 after acquiring an additional 116,502 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of HollyFrontier by 129.6% in the 2nd quarter. Principal Financial Group Inc. now owns 4,204,355 shares of the oil and gas company’s stock valued at $115,495,000 after acquiring an additional 2,373,560 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of HollyFrontier by 8.0% in the 3rd quarter. Schroder Investment Management Group now owns 3,889,796 shares of the oil and gas company’s stock valued at $139,994,000 after acquiring an additional 288,191 shares in the last quarter. Institutional investors own 83.31% of the company’s stock.
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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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