Other equities analysts have also recently issued reports about the company. Morgan Stanley restated a sell rating and set a $26.00 price objective on shares of HollyFrontier Corp. in a research note on Thursday, September 1st. TheStreet cut HollyFrontier Corp. from a hold rating to a sell rating in a research note on Wednesday, August 3rd. Wolfe Research cut HollyFrontier Corp. from an outperform rating to a market perform rating in a research note on Monday, June 20th. Deutsche Bank AG cut HollyFrontier Corp. from a buy rating to a hold rating and dropped their price objective for the company from $53.00 to $30.00 in a research note on Tuesday, July 12th. Finally, Barclays PLC restated a buy rating and set a $32.00 price objective on shares of HollyFrontier Corp. in a research note on Friday, August 26th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $36.09.
HollyFrontier Corp. (NYSE:HFC) opened at 24.79 on Friday. HollyFrontier Corp. has a 1-year low of $22.07 and a 1-year high of $52.30. The company has a 50 day moving average of $26.02 and a 200 day moving average of $28.73. The firm’s market capitalization is $4.36 billion.
HollyFrontier Corp. (NYSE:HFC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.04. HollyFrontier Corp. had a negative net margin of 2.09% and a positive return on equity of 8.00%. The business earned $2.71 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the business posted $1.88 EPS. The business’s revenue for the quarter was down 26.7% compared to the same quarter last year. On average, equities research analysts anticipate that HollyFrontier Corp. will post $0.80 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Tuesday, August 23rd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.32%. HollyFrontier Corp.’s dividend payout ratio is presently -93.62%.
Large investors have recently modified their holdings of the company. Assetmark Inc. purchased a new stake in shares of HollyFrontier Corp. during the second quarter valued at $113,000. Bellwether Investment Group LLC purchased a new stake in shares of HollyFrontier Corp. during the second quarter valued at $139,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of HollyFrontier Corp. by 143.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,869 shares of the company’s stock valued at $164,000 after buying an additional 4,049 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of HollyFrontier Corp. by 8.9% in the second quarter. Van ECK Associates Corp now owns 8,065 shares of the company’s stock valued at $192,000 after buying an additional 660 shares during the last quarter. Finally, GAM Holding AG boosted its stake in shares of HollyFrontier Corp. by 70.2% in the second quarter. GAM Holding AG now owns 8,296 shares of the company’s stock valued at $197,000 after buying an additional 3,421 shares during the last quarter. 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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