HollyFrontier Corp. (NYSE:HFC)‘s stock had its “overweight” rating reiterated by equities researchers at Barclays PLC in a report released on Monday. They currently have a $35.00 price objective on the stock, up from their previous price objective of $32.00. Barclays PLC’s target price points to a potential upside of 38.50% from the company’s previous close.
A number of other analysts also recently issued reports on HFC. Morgan Stanley downgraded HollyFrontier Corp. from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $41.00 to $26.00 in a research note on Friday, June 17th. Wolfe Research downgraded HollyFrontier Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, June 20th. Zacks Investment Research downgraded HollyFrontier Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Simmons reissued a “neutral” rating and set a $24.00 price objective (down from $26.00) on shares of HollyFrontier Corp. in a research report on Wednesday, June 29th. Finally, Goldman Sachs Group Inc. reissued a “sell” rating on shares of HollyFrontier Corp. in a research report on Wednesday, June 29th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. HollyFrontier Corp. has a consensus rating of “Hold” and an average price target of $36.28.
Shares of HollyFrontier Corp. (NYSE:HFC) traded up 1.94% during trading on Monday, reaching $25.27. 2,498,622 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $25.20 and a 200 day moving average price of $27.60. HollyFrontier Corp. has a 12-month low of $22.07 and a 12-month high of $52.30. The company’s market capitalization is $4.44 billion.
HollyFrontier Corp. (NYSE:HFC) last issued its earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.04. HollyFrontier Corp. had a positive return on equity of 8.00% and a negative net margin of 2.09%. The company earned $2.71 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the business earned $1.88 earnings per share. The firm’s revenue was down 26.7% compared to the same quarter last year. Equities analysts expect that HollyFrontier Corp. will post $0.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Tuesday, August 23rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.22%. The ex-dividend date was Friday, August 19th. HollyFrontier Corp.’s dividend payout ratio (DPR) is -93.62%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in HollyFrontier Corp. by 11.4% in the first quarter. BlackRock Inc. now owns 265,707 shares of the company’s stock valued at $9,385,000 after buying an additional 27,130 shares during the period. BlackRock Group LTD raised its position in HollyFrontier Corp. by 5.5% in the first quarter. BlackRock Group LTD now owns 1,329,327 shares of the company’s stock valued at $46,952,000 after buying an additional 68,896 shares during the period. Acrospire Investment Management LLC purchased a new position in HollyFrontier Corp. during the first quarter valued at approximately $240,000. Investec Asset Management LTD purchased a new position in HollyFrontier Corp. during the first quarter valued at approximately $12,054,000. Finally, Aviva PLC raised its position in HollyFrontier Corp. by 0.5% in the first quarter. Aviva PLC now owns 94,334 shares of the company’s stock valued at $3,332,000 after buying an additional 428 shares during the period. 83.83% of the stock is currently owned by institutional investors.
About HollyFrontier Corp.
HollyFrontier Corporation (HollyFrontier) is an independent petroleum refiner. The Company produces various refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. The Company operates through two segments: Refining and Holly Energy Partners, L.P.
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