HollyFrontier Corporation (HFC) Upgraded by BidaskClub to “Buy”
BidaskClub upgraded shares of HollyFrontier Corporation (NYSE:HFC) from a hold rating to a buy rating in a research report released on Saturday morning.
Other research analysts have also recently issued research reports about the company. Barclays PLC upped their target price on HollyFrontier Corporation from $37.00 to $39.00 and gave the company an overweight rating in a research note on Thursday. US Capital Advisors reaffirmed a hold rating on shares of HollyFrontier Corporation in a research note on Monday, May 22nd. Zacks Investment Research raised HollyFrontier Corporation from a sell rating to a hold rating in a research note on Tuesday, August 1st. Simmons reaffirmed a neutral rating and set a $25.00 target price (down previously from $27.00) on shares of HollyFrontier Corporation in a research note on Wednesday, July 12th. Finally, Scotiabank set a $29.00 target price on HollyFrontier Corporation and gave the company a hold rating in a research note on Monday, June 26th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $30.32.
HollyFrontier Corporation (NYSE:HFC) traded down 0.10% during midday trading on Friday, reaching $30.53. The company’s stock had a trading volume of 4,519,410 shares. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 38.69 and a beta of 1.24. The company’s 50-day moving average is $27.28 and its 200 day moving average is $27.63. HollyFrontier Corporation has a 12-month low of $22.63 and a 12-month high of $34.78.
HollyFrontier Corporation (NYSE:HFC) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.24 billion. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The company’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Equities analysts forecast that HollyFrontier Corporation will post $1.20 earnings per share for the current year.
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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 is Monday, August 21st. This represents a $1.32 annualized dividend and a yield of 4.32%. HollyFrontier Corporation’s dividend payout ratio (DPR) is currently 167.09%.
A number of hedge funds and other institutional investors have recently made changes to their positions in HFC. Princeton Alpha Management LP purchased a new position in shares of HollyFrontier Corporation during the first quarter valued at about $223,000. SG Americas Securities LLC boosted its position in shares of HollyFrontier Corporation by 232.7% in the first quarter. SG Americas Securities LLC now owns 19,716 shares of the oil and gas company’s stock valued at $559,000 after buying an additional 13,790 shares during the period. Edge Asset Management Inc. boosted its position in shares of HollyFrontier Corporation by 1.6% in the first quarter. Edge Asset Management Inc. now owns 2,418,323 shares of the oil and gas company’s stock valued at $68,536,000 after buying an additional 38,591 shares during the period. JPMorgan Chase & Co. boosted its position in shares of HollyFrontier Corporation by 383.3% in the first quarter. JPMorgan Chase & Co. now owns 977,618 shares of the oil and gas company’s stock valued at $27,705,000 after buying an additional 775,341 shares during the period. Finally, American International Group Inc. boosted its position in shares of HollyFrontier Corporation by 4.1% in the first quarter. American International Group Inc. now owns 410,734 shares of the oil and gas company’s stock valued at $11,640,000 after buying an additional 16,125 shares during the period. 84.71% of the stock is currently owned by institutional investors.
About HollyFrontier Corporation
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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