HollyFrontier Corp. (HFC) Stock Price Down 3.9%
HollyFrontier Corp. (NYSE:HFC) shares fell 3.9% during trading on Thursday . The stock traded as low as $24.65 and last traded at $24.86, with a volume of 1,873,134 shares. The stock had previously closed at $25.88.
Several research firms have commented on HFC. Morgan Stanley reiterated a “sell” rating and set a $26.00 price target on shares of HollyFrontier Corp. in a report on Thursday. Citigroup Inc. upgraded shares of HollyFrontier Corp. to an “outperform” rating and set a $38.00 price objective for the company in a research report on Wednesday, May 18th. They noted that the move was a valuation call. Barclays PLC reduced their price objective on shares of HollyFrontier Corp. from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, May 5th. Vetr downgraded 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 report on Tuesday, August 9th. Finally, Simmons restated a “neutral” rating and set a $24.00 price objective (down previously from $26.00) on shares of HollyFrontier Corp. in a research report on Wednesday, June 29th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.16.
The company’s market cap is $4.33 billion. The firm has a 50-day moving average price of $25.71 and a 200-day moving average price of $29.45.
HollyFrontier Corp. (NYSE:HFC) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.35 billion. The company’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 earnings per share. Equities analysts predict that HollyFrontier Corp. will post $0.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Tuesday, August 23rd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Friday, August 19th.
Other institutional investors have added to or reduced their stakes in the company. Jennison Associates LLC increased its position in 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. BNP Paribas Arbitrage SA increased its position in 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. Bank of Montreal Can increased its position in HollyFrontier Corp. by 386.2% in the fourth quarter. Bank of Montreal Can now owns 314,254 shares of the company’s stock worth $12,536,000 after buying an additional 249,618 shares in the last quarter. Finally, BlackRock Advisors LLC increased its position in HollyFrontier Corp. by 149.2% in the fourth quarter. BlackRock Advisors LLC now owns 391,116 shares of the company’s stock worth $15,601,000 after buying an additional 234,163 shares in the last quarter.
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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