HollyFrontier Corp. (HFC) Upgraded at Zacks Investment Research
According to Zacks, “HollyFrontier Corporation is engaged in refining petroleum. It produces and markets gasoline, diesel, jet fuel, asphalt, heavy products and specialty lubricant products. HollyFrontier Corporation, formerly known as Holly Corporation, is headquartered in Dallas, Texas. “
HFC has been the subject of several other reports. TheStreet cut shares of HollyFrontier Corp. from a hold rating to a sell rating in a research note on Wednesday, August 3rd. Morgan Stanley reissued a sell rating and set a $26.00 price objective on shares of HollyFrontier Corp. in a research note on Thursday, September 1st. Vetr cut shares of HollyFrontier Corp. from a buy rating to a hold rating and set a $27.67 price objective for the company. in a research note on Monday, August 15th. Wolfe Research cut shares of HollyFrontier Corp. from an outperform rating to a market perform rating in a research note on Monday, June 20th. Finally, Credit Suisse Group AG reissued a hold rating and set a $32.00 price objective on shares of HollyFrontier Corp. in a research note on Thursday, July 14th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. HollyFrontier Corp. presently has an average rating of Hold and an average price target of $36.09.
Shares of HollyFrontier Corp. (NYSE:HFC) opened at 24.65 on Tuesday. HollyFrontier Corp. has a 1-year low of $22.07 and a 1-year high of $52.30. The firm’s market capitalization is $4.33 billion. The firm has a 50-day moving average price of $25.93 and a 200-day moving average price of $28.67.
HollyFrontier Corp. (NYSE:HFC) last released its earnings results on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.04. The firm earned $2.71 billion during the quarter, compared to analysts’ expectations of $2.35 billion. HollyFrontier Corp. had a positive return on equity of 8.00% and a negative net margin of 2.09%. The firm’s revenue was down 26.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.88 earnings per share. On average, analysts forecast that HollyFrontier Corp. will post $0.80 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Tuesday, August 23rd will be paid a $0.33 dividend. The ex-dividend date is Friday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.35%. HollyFrontier Corp.’s dividend payout ratio (DPR) is presently -93.62%.
Several large investors have recently modified their holdings of HFC. Assetmark Inc. bought a new stake in shares of HollyFrontier Corp. during the second quarter worth about $113,000. Bellwether Investment Group LLC acquired a new stake in shares of HollyFrontier Corp. during the second quarter worth $139,000. Northwestern Mutual Wealth Management Co. increased 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 worth $164,000 after buying an additional 4,049 shares in the last quarter. Van ECK Associates Corp increased 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 worth $192,000 after buying an additional 660 shares in the last quarter. Finally, GAM Holding AG increased 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 worth $197,000 after buying an additional 3,421 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.
HollyFrontier Corp. Company Profile
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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