HollyFrontier Corporation (HFC) Rating Reiterated by Scotiabank
HollyFrontier Corporation (NYSE:HFC)‘s stock had its “buy” rating reiterated by investment analysts at Scotiabank in a research note issued to investors on Friday. They presently have a $33.00 price target on the oil and gas company’s stock. Scotiabank’s price target would indicate a potential upside of 3.48% from the stock’s previous close.
Other analysts have also recently issued reports about the stock. US Capital Advisors restated a “hold” rating on shares of HollyFrontier Corporation in a research note on Monday, May 22nd. BidaskClub upgraded shares of HollyFrontier Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded shares of HollyFrontier Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Simmons restated a “neutral” rating and issued a $25.00 price objective (down from $27.00) on shares of HollyFrontier Corporation in a research note on Wednesday, July 12th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $38.00 price objective (up from $36.00) on shares of HollyFrontier Corporation in a research note on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. HollyFrontier Corporation has a consensus rating of “Hold” and a consensus price target of $31.15.
HollyFrontier Corporation (NYSE HFC) traded up 1.16% during midday trading on Friday, reaching $32.26. 936,701 shares of the company were exchanged. The firm’s 50-day moving average is $29.38 and its 200-day moving average is $27.70. The firm has a market cap of $5.66 billion, a P/E ratio of 40.94 and a beta of 1.21. HollyFrontier Corporation has a one year low of $22.63 and a one year high of $34.78.
HollyFrontier Corporation (NYSE:HFC) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the previous year, the company earned $0.28 earnings per share. HollyFrontier Corporation’s revenue for the quarter was up 27.4% on a year-over-year basis. On average, equities analysts expect that HollyFrontier Corporation will post $1.40 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. bought a new stake in HollyFrontier Corporation in the 2nd quarter valued at $204,000. Toronto Dominion Bank increased its holdings in HollyFrontier Corporation by 11.3% in the 1st quarter. Toronto Dominion Bank now owns 3,759 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 382 shares during the period. AT Bancorp bought a new stake in HollyFrontier Corporation in the 2nd quarter valued at $104,000. Ffcm LLC increased its holdings in HollyFrontier Corporation by 2,500.0% in the 2nd quarter. Ffcm LLC now owns 4,628 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 4,450 shares during the period. Finally, IFP Advisors Inc increased its holdings in HollyFrontier Corporation by 304.6% in the 2nd quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 3,674 shares during the period. 83.84% of the stock is currently owned by hedge funds and other 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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