Investors Sell HollyFrontier Corp. (HFC) on Strength (HFC)
Traders sold shares of HollyFrontier Corp. (NYSE:HFC) on strength during trading hours on Thursday. $28.23 million flowed into the stock on the tick-up and $48.91 million flowed out of the stock on the tick-down, for a money net flow of $20.68 million out of the stock. Of all stocks tracked, HollyFrontier Corp. had the 0th highest net out-flow for the day. HollyFrontier Corp. traded up $0.57 for the day and closed at $24.98
HFC has been the subject of several analyst reports. Goldman Sachs Group Inc. lowered HollyFrontier Corp. from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $37.00 to $34.00 in a research report on Wednesday, March 23rd. They noted that the move was a valuation call. Raymond James Financial Inc. lowered HollyFrontier Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, March 28th. Zacks Investment Research lowered HollyFrontier Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, March 29th. Barclays PLC lowered their price target on HollyFrontier Corp. from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. Finally, Deutsche Bank AG restated a “buy” rating on shares of HollyFrontier Corp. in a research report on Saturday, April 9th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.06.
The stock has a market cap of $4.22 billion and a price-to-earnings ratio of 8.33. The company has a 50 day moving average price of $24.92 and a 200-day moving average price of $31.62.
HollyFrontier Corp. (NYSE:HFC) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.17. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.91 billion. The firm’s revenue for the quarter was down 32.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 earnings per share. On average, equities analysts forecast that HollyFrontier Corp. will post $1.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, May 27th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, May 25th. This represents a $1.32 annualized dividend and a dividend yield of 5.50%.
A number of hedge funds have made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of HollyFrontier Corp. by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,586,490 shares of the company’s stock worth $103,173,000 after buying an additional 44,874 shares during the period. BNP Paribas Arbitrage SA boosted its stake 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 during the period. Jennison Associates LLC boosted its stake 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 during the period. Trexquant Investment LP boosted its stake 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 during the period. Finally, Marshall Wace LLP acquired a new stake in shares of HollyFrontier Corp. during the fourth quarter worth $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.
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