HollyFrontier Corp. (HFC) Trading Down 3.9%
HollyFrontier Corp. (NYSE:HFC)’s share price traded down 3.9% during mid-day trading on Thursday . The stock traded as low as $24.65 and last traded at $24.86, with a volume of 1,873,134 shares traded. The stock had previously closed at $25.88.
Several equities analysts have recently issued reports on the company. Morgan Stanley restated a “sell” rating and set a $26.00 target price on shares of HollyFrontier Corp. in a research report on Thursday. Barclays PLC restated a “buy” rating and set a $32.00 target price on shares of HollyFrontier Corp. in a research report on Friday, August 26th. Vetr upgraded HollyFrontier Corp. from a “hold” rating to a “buy” rating and set a $27.50 target price for the company in a research report on Monday, August 22nd. Piper Jaffray Cos. boosted their target price on HollyFrontier Corp. from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, August 22nd. Finally, Simmons restated a “neutral” rating and set a $24.00 target price (up from $20.00) on shares of HollyFrontier Corp. in a research report on Friday, August 5th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. HollyFrontier Corp. has a consensus rating of “Hold” and an average target price of $36.16.
The company’s market cap is $4.34 billion. The stock has a 50 day moving average price of $25.71 and a 200 day moving average price of $29.39.
HollyFrontier Corp. (NYSE:HFC) last released its earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.04. The firm earned $2.71 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the business posted $1.88 earnings per share. The company’s revenue was down 26.7% compared to the same quarter last year. On average, equities analysts forecast that HollyFrontier Corp. will post $0.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Tuesday, August 23rd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Friday, August 19th.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Jennison Associates LLC raised its position in HollyFrontier Corp. by 85.5% in the fourth quarter. Jennison Associates LLC now owns 53,444 shares of the company’s stock worth $2,132,000 after buying an additional 24,635 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in HollyFrontier Corp. by 41.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 114,591 shares of the company’s stock worth $4,571,000 after buying an additional 33,329 shares during the period. BlackRock Advisors LLC increased its position in HollyFrontier Corp. by 149.2% in the fourth quarter. BlackRock Advisors LLC now owns 391,116 shares of the company’s stock worth $15,601,000 after buying an additional 234,163 shares during the period. Finally, Bank of Montreal Can increased its position in HollyFrontier Corp. by 386.2% in the fourth quarter. Bank of Montreal Can now owns 314,254 shares of the company’s stock worth $12,536,000 after buying an additional 249,618 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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