HollyFrontier Corp. (HFC) Shares Down 2.7%
HollyFrontier Corp. (NYSE:HFC) fell 2.7% during mid-day trading on Friday . The stock traded as low as $24.27 and last traded at $24.31, with a volume of 2,090,311 shares. The stock had previously closed at $24.98.
Several research firms recently issued reports on HFC. Credit Suisse Group AG reaffirmed a “hold” rating and set a $32.00 price target on shares of HollyFrontier Corp. in a research note on Thursday. Deutsche Bank AG downgraded shares of HollyFrontier Corp. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $53.00 to $30.00 in a research note on Tuesday. Zacks Investment Research downgraded shares of HollyFrontier Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of HollyFrontier Corp. in a research note on Wednesday, June 29th. Finally, Simmons reaffirmed a “neutral” rating and set a $24.00 price target (down previously from $26.00) on shares of HollyFrontier Corp. in a research note on Wednesday, June 29th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $40.06.
The stock’s 50-day moving average price is $25.00 and its 200-day moving average price is $31.74. The stock has a market capitalization of $4.22 billion and a PE ratio of 8.33.
HollyFrontier Corp. (NYSE:HFC) last released its earnings results on Wednesday, May 4th. The company reported ($0.09) 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 analysts’ expectations of $1.91 billion. HollyFrontier Corp.’s revenue was down 32.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 EPS. On average, equities research analysts predict that HollyFrontier Corp. will post $1.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, May 27th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.50%. The ex-dividend date was Wednesday, May 25th.
A number of institutional investors recently added to or reduced their stakes in the stock. Strs Ohio boosted its position in HollyFrontier Corp. by 31.7% in the fourth quarter. Strs Ohio now owns 42,389 shares of the company’s stock valued at $1,690,000 after buying an additional 10,211 shares during the last quarter. Rhumbline Advisers boosted its position in shares of HollyFrontier Corp. by 0.3% in the fourth quarter. Rhumbline Advisers now owns 282,200 shares of the company’s stock worth $11,257,000 after buying an additional 801 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of HollyFrontier Corp. by 15.0% in the fourth quarter. TD Asset Management Inc. now owns 26,785 shares of the company’s stock worth $1,068,000 after buying an additional 3,500 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of HollyFrontier Corp. by 6.0% in the fourth quarter. California Public Employees Retirement System now owns 642,900 shares of the company’s stock worth $25,645,000 after buying an additional 36,500 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its position in shares of HollyFrontier Corp. by 9.0% in the fourth quarter. Engineers Gate Manager LP now owns 55,722 shares of the company’s stock worth $2,223,000 after buying an additional 4,616 shares in the last quarter.
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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