HollyFrontier Corp. (HFC) Downgraded by Zacks Investment Research
HollyFrontier Corp. (NYSE:HFC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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. “
Several other brokerages have also issued reports on HFC. Vetr lowered HollyFrontier Corp. from a “buy” rating to a “hold” rating and set a $27.67 price target on the stock. in a research note on Tuesday, August 9th. Piper Jaffray Cos. boosted their price target on HollyFrontier Corp. from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, August 22nd. JPMorgan Chase & Co. lowered their price target on HollyFrontier Corp. from $32.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, June 10th. Simmons restated a “neutral” rating and set a $24.00 price target (up from $20.00) on shares of HollyFrontier Corp. in a research note on Friday, August 5th. Finally, Morgan Stanley restated a “sell” rating and set a $26.00 price target on shares of HollyFrontier Corp. in a research note on Thursday, September 1st. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. HollyFrontier Corp. presently has a consensus rating of “Hold” and a consensus target price of $36.09.
Shares of HollyFrontier Corp. (NYSE:HFC) opened at 25.35 on Wednesday. The firm’s 50-day moving average price is $25.38 and its 200 day moving average price is $27.91. The company’s market cap is $4.46 billion. HollyFrontier Corp. has a 52 week low of $22.07 and a 52 week high of $52.30.
HollyFrontier Corp. (NYSE:HFC) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.04. HollyFrontier Corp. had a positive return on equity of 8.00% and a negative net margin of 2.09%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm posted $1.88 EPS. HollyFrontier Corp.’s revenue for the quarter was down 26.7% on a year-over-year basis. On average, equities analysts predict that HollyFrontier Corp. will post $0.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Tuesday, August 23rd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Friday, August 19th. HollyFrontier Corp.’s dividend payout ratio is -93.62%.
A number of hedge funds and other institutional investors have recently bought and sold shares of HFC. Assetmark Inc. purchased a new position in HollyFrontier Corp. during the second quarter valued at about $113,000. Bellwether Investment Group LLC purchased a new position in HollyFrontier Corp. during the second quarter valued at about $139,000. Acrospire Investment Management LLC purchased a new position in HollyFrontier Corp. during the first quarter valued at about $240,000. Northwestern Mutual Wealth Management Co. increased its position in 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 in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in HollyFrontier Corp. during the first quarter valued at about $273,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.
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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