HollyFrontier Corp. (HFC) Earns “Overweight” Rating from Barclays PLC
Barclays PLC reaffirmed their overweight rating on shares of HollyFrontier Corp. (NYSE:HFC) in a research report report published on Monday. They currently have a $35.00 price objective on the stock, up from their previous price objective of $32.00.
Several other equities research analysts have also recently weighed in on HFC. Morgan Stanley cut shares of HollyFrontier Corp. from an equal weight rating to an underweight rating and lowered their price target for the stock from $41.00 to $26.00 in a research report on Friday, June 17th. Wolfe Research cut shares of HollyFrontier Corp. from an outperform rating to a market perform rating in a research report on Monday, June 20th. Zacks Investment Research cut shares of HollyFrontier Corp. from a hold rating to a sell rating in a research report on Tuesday, June 21st. Simmons reaffirmed a neutral rating and issued a $24.00 price target (down previously from $26.00) on shares of HollyFrontier Corp. in a research report on Wednesday, June 29th. Finally, Goldman Sachs Group Inc. reaffirmed a sell rating on shares of HollyFrontier Corp. in a research report on Wednesday, June 29th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $36.28.
Shares of HollyFrontier Corp. (NYSE:HFC) opened at 23.65 on Monday. The company’s market cap is $4.16 billion. HollyFrontier Corp. has a 52-week low of $22.07 and a 52-week high of $52.30. The firm has a 50-day moving average of $25.01 and a 200-day moving average of $27.53.
HollyFrontier Corp. (NYSE:HFC) last announced its quarterly earnings results 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 earned $2.71 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the company posted $1.88 EPS. HollyFrontier Corp.’s revenue for the quarter was down 26.7% on a year-over-year basis. Equities research analysts forecast that HollyFrontier Corp. will post $0.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Tuesday, August 23rd were given a dividend of $0.33 per share. The ex-dividend date was Friday, August 19th. This represents a $1.32 annualized dividend and a yield of 5.58%. HollyFrontier Corp.’s dividend payout ratio is presently -93.62%.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in HollyFrontier Corp. by 11.4% in the first quarter. BlackRock Inc. now owns 265,707 shares of the company’s stock valued at $9,385,000 after buying an additional 27,130 shares in the last quarter. BlackRock Group LTD raised its stake in HollyFrontier Corp. by 5.5% in the first quarter. BlackRock Group LTD now owns 1,329,327 shares of the company’s stock valued at $46,952,000 after buying an additional 68,896 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in HollyFrontier Corp. during the first quarter valued at approximately $240,000. Investec Asset Management LTD purchased a new stake in HollyFrontier Corp. during the first quarter valued at approximately $12,054,000. Finally, Aviva PLC raised its stake in HollyFrontier Corp. by 0.5% in the first quarter. Aviva PLC now owns 94,334 shares of the company’s stock valued at $3,332,000 after buying an additional 428 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.
About HollyFrontier Corp.
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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