Brokerages Expect HollyFrontier Corporation (HFC) to Post $0.68 EPS
Wall Street analysts expect HollyFrontier Corporation (NYSE:HFC) to report earnings of $0.68 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for HollyFrontier Corporation’s earnings, with estimates ranging from $0.55 to $0.83. HollyFrontier Corporation posted earnings of $0.38 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 78.9%. The company is scheduled to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that HollyFrontier Corporation will report full year earnings of $1.24 per share for the current fiscal year, with EPS estimates ranging from $0.93 to $1.66. For the next financial year, analysts forecast that the company will post earnings of $2.22 per share, with EPS estimates ranging from $1.70 to $3.29. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover HollyFrontier Corporation.
HollyFrontier Corporation (NYSE:HFC) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 27.4% compared to the same quarter last year.
A number of research firms have recently weighed in on HFC. Zacks Investment Research downgraded shares of HollyFrontier Corporation from a “hold” rating to a “sell” rating in a research report on Monday, June 5th. Barclays PLC reiterated an “overweight” rating and issued a $37.00 price target (down from $39.00) on shares of HollyFrontier Corporation in a research report on Friday, April 14th. Scotiabank set a $29.00 price target on shares of HollyFrontier Corporation and gave the company a “hold” rating in a research report on Thursday, May 4th. Piper Jaffray Companies reiterated a “neutral” rating on shares of HollyFrontier Corporation in a research report on Thursday, May 25th. Finally, Credit Suisse Group downgraded shares of HollyFrontier Corporation from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $30.00 to $33.00 in a research report on Thursday, May 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. HollyFrontier Corporation has a consensus rating of “Hold” and a consensus price target of $30.32.
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A number of hedge funds and other institutional investors have recently made changes to their positions in HFC. Boston Private Wealth LLC boosted its position in shares of HollyFrontier Corporation by 19.4% in the second quarter. Boston Private Wealth LLC now owns 38,233 shares of the oil and gas company’s stock worth $1,050,000 after buying an additional 6,207 shares during the period. BB&T Securities LLC boosted its position in shares of HollyFrontier Corporation by 14.3% in the second quarter. BB&T Securities LLC now owns 59,172 shares of the oil and gas company’s stock worth $1,625,000 after buying an additional 7,388 shares during the period. Chartwell Investment Partners LLC boosted its position in shares of HollyFrontier Corporation by 19.2% in the second quarter. Chartwell Investment Partners LLC now owns 202,280 shares of the oil and gas company’s stock worth $5,557,000 after buying an additional 32,520 shares during the period. Comerica Bank boosted its position in shares of HollyFrontier Corporation by 0.6% in the second quarter. Comerica Bank now owns 153,411 shares of the oil and gas company’s stock worth $4,230,000 after buying an additional 964 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of HollyFrontier Corporation by 2.0% in the second quarter. Legal & General Group Plc now owns 1,163,679 shares of the oil and gas company’s stock worth $31,975,000 after buying an additional 22,437 shares during the period. 84.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of HollyFrontier Corporation (HFC) opened at 30.53 on Thursday. The stock has a 50 day moving average price of $27.28 and a 200 day moving average price of $27.63. HollyFrontier Corporation has a 1-year low of $22.63 and a 1-year high of $34.78. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 38.69 and a beta of 1.24.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.32 dividend on an annualized basis and a yield of 4.32%. HollyFrontier Corporation’s dividend payout ratio (DPR) is 167.09%.
HollyFrontier Corporation Company Profile
HollyFrontier Corporation is an independent petroleum refiner. The Company produces various light products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. It segments include Refining and Holly Energy Partners, L.P. (HEP). The Refining segment includes the operations of the Company’s El Dorado, Kansas (the El Dorado Refinery); refinery facilities located in Tulsa, Oklahoma (collectively, the Tulsa Refineries); a refinery in Artesia, New Mexico that is operated in conjunction with crude oil distillation and vacuum distillation and other facilities situated 65 miles away in Lovington, New Mexico (collectively, the Navajo Refinery); refinery located in Cheyenne, Wyoming (the Cheyenne Refinery); a refinery in Woods Cross, Utah (the Woods Cross Refinery), and HollyFrontier Asphalt Company (HFC Asphalt).
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