HollyFrontier Corporation (NYSE:HFC)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $29.42, but opened at $30.63. HollyFrontier Corporation shares last traded at $31.09, with a volume of 1,499,004 shares changing hands.

Several equities analysts have weighed in on HFC shares. BidaskClub raised HollyFrontier Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Royal Bank Of Canada reissued a “buy” rating and issued a $37.00 target price on shares of HollyFrontier Corporation in a research note on Thursday, June 15th. US Capital Advisors reissued a “hold” rating on shares of HollyFrontier Corporation in a research note on Monday, May 22nd. 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. Finally, Zacks Investment Research raised HollyFrontier Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $30.75.

The stock has a 50-day moving average price of $29.15 and a 200-day moving average price of $27.64. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 39.67 and a beta of 1.21.

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 Thomson Reuters’ 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 company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the company posted $0.28 EPS. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. Analysts anticipate that HollyFrontier Corporation will post $1.30 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders 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 dividend yield of 4.22%. HollyFrontier Corporation’s payout ratio is 167.09%.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of HollyFrontier Corporation by 7,017.5% in the 1st quarter. BlackRock Inc. now owns 21,293,640 shares of the oil and gas company’s stock valued at $603,462,000 after purchasing an additional 20,994,466 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of HollyFrontier Corporation by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 15,844,018 shares of the oil and gas company’s stock valued at $435,236,000 after purchasing an additional 260,132 shares during the last quarter. State Street Corp increased its stake in shares of HollyFrontier Corporation by 3.9% in the 2nd quarter. State Street Corp now owns 8,194,765 shares of the oil and gas company’s stock valued at $225,091,000 after purchasing an additional 311,196 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of HollyFrontier Corporation by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,412,302 shares of the oil and gas company’s stock valued at $148,687,000 after purchasing an additional 116,502 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of HollyFrontier Corporation by 129.6% in the 2nd quarter. Principal Financial Group Inc. now owns 4,204,355 shares of the oil and gas company’s stock valued at $115,495,000 after purchasing an additional 2,373,560 shares during the last quarter. Institutional investors own 83.84% of the company’s stock.

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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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