HollyFrontier Corp. (HFC) Shares Down 3.2%
HollyFrontier Corp. (NYSE:HFC) fell 3.2% during trading on Thursday . The stock traded as low as $22.17 and last traded at $22.22, with a volume of 3,467,702 shares changing hands. The stock had previously closed at $22.95.
Several research firms have recently commented on HFC. Goldman Sachs Group Inc. downgraded HollyFrontier Corp. from a “neutral” rating to a “sell” rating and cut their price objective for the company from $37.00 to $34.00 in a report on Wednesday, March 23rd. They noted that the move was a valuation call. Raymond James Financial Inc. downgraded HollyFrontier Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, March 28th. Zacks Investment Research downgraded HollyFrontier Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, March 29th. Credit Suisse Group AG cut their price objective on HollyFrontier Corp. from $60.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, April 11th. Finally, Deutsche Bank AG restated a “buy” rating on shares of HollyFrontier Corp. in a research note on Saturday, April 9th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. HollyFrontier Corp. presently has an average rating of “Hold” and a consensus target price of $42.25.
The firm has a market cap of $3.92 billion and a price-to-earnings ratio of 7.74. The firm’s 50 day moving average is $25.57 and its 200-day moving average is $32.33.
HollyFrontier Corp. (NYSE:HFC) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.17. During the same quarter in the prior year, the company posted $1.16 earnings per share. The business earned $2.02 billion during the quarter, compared to analyst estimates of $1.91 billion. The company’s revenue was down 32.9% on a year-over-year basis. On average, equities research analysts predict that HollyFrontier Corp. will post $1.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, May 27th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, May 25th. This represents a $1.32 annualized dividend and a yield of 5.92%.
A number of hedge funds and institutional investors have bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in HollyFrontier Corp. by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,586,490 shares of the company’s stock valued at $103,173,000 after buying an additional 44,874 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of 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 in the last quarter. Jennison Associates LLC boosted its position in shares of 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 in the last quarter. Trexquant Investment LP boosted its position in shares of HollyFrontier Corp. by 86.3% in the fourth quarter. Trexquant Investment LP now owns 159,500 shares of the company’s stock worth $6,362,000 after buying an additional 73,900 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of HollyFrontier Corp. during the fourth quarter worth approximately $5,713,000.
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.