HollyFrontier Corp. (HFC) Sees Large Volume Increase
HollyFrontier Corp. (NYSE:HFC) shares saw strong trading volume on Thursday . 5,464,481 shares traded hands during trading, an increase of 10% from the previous session’s volume of 4,954,198 shares.The stock last traded at $25.32 and had previously closed at $24.41.
Several equities research analysts have recently weighed in on the stock. Deutsche Bank AG reiterated a “buy” rating on shares of HollyFrontier Corp. in a research report on Saturday, April 9th. Credit Suisse Group AG reissued a “hold” rating and set a $32.00 target price on shares of HollyFrontier Corp. in a research note on Thursday. Citigroup Inc. raised shares of HollyFrontier Corp. to an “outperform” rating and set a $38.00 target price on the stock in a research note on Wednesday, May 18th. They noted that the move was a valuation call. Barclays PLC cut their target price on shares of HollyFrontier Corp. from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, May 5th. Finally, Zacks Investment Research raised shares of HollyFrontier Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $40.06.
The stock has a 50 day moving average price of $25.00 and a 200-day moving average price of $31.74. The company has a market capitalization of $4.39 billion and a price-to-earnings ratio of 8.66.
HollyFrontier Corp. (NYSE:HFC) last released its earnings results on Wednesday, May 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.17. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.91 billion. The company’s quarterly revenue was down 32.9% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share. Analysts forecast that HollyFrontier Corp. will post $1.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, May 27th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date was Wednesday, May 25th.
A number of large investors recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of HollyFrontier Corp. by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 14,809,691 shares of the company’s stock worth $590,758,000 after buying an additional 163,161 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of HollyFrontier Corp. by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,586,490 shares of the company’s stock worth $103,173,000 after buying an additional 44,874 shares during the period. Morgan Stanley raised its stake in shares of HollyFrontier Corp. by 48.1% in the fourth quarter. Morgan Stanley now owns 2,481,850 shares of the company’s stock worth $99,002,000 after buying an additional 806,426 shares during the period. OppenheimerFunds Inc. raised its stake in shares of HollyFrontier Corp. by 0.3% in the fourth quarter. OppenheimerFunds Inc. now owns 1,764,505 shares of the company’s stock worth $70,386,000 after buying an additional 5,027 shares during the period. Finally, Edge Asset Management Inc. raised its stake in shares of HollyFrontier Corp. by 43.5% in the fourth quarter. Edge Asset Management Inc. now owns 1,388,915 shares of the company’s stock worth $55,404,000 after buying an additional 420,723 shares during the period.
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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