HollyFrontier Corporation (HFC) Shares Gap Down to $30.63
HollyFrontier Corporation (NYSE:HFC)’s share price gapped down before the market opened 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.
HFC has been the subject of several analyst reports. BidaskClub cut HollyFrontier Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Barclays PLC restated an “overweight” rating and set a $39.00 target price (up from $37.00) on shares of HollyFrontier Corporation in a report on Wednesday, August 9th. Royal Bank Of Canada restated an “outperform” rating and set a $38.00 target price (up from $36.00) on shares of HollyFrontier Corporation in a report on Wednesday, August 9th. Scotiabank upgraded HollyFrontier Corporation from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded HollyFrontier Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. HollyFrontier Corporation presently has a consensus rating of “Hold” and an average target price of $30.75.
The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 40.47 and a beta of 1.21. The firm has a 50 day moving average of $29.38 and a 200-day moving average of $27.70.
HollyFrontier Corporation (NYSE:HFC) last announced its 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 business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. On average, equities analysts forecast that HollyFrontier Corporation will post $1.40 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.32 annualized dividend and a dividend yield of 4.14%. HollyFrontier Corporation’s dividend payout ratio (DPR) is presently 167.09%.
Several large investors have recently made changes to their positions in HFC. BlackRock Inc. boosted its position in shares of HollyFrontier Corporation by 7,017.5% during the first quarter. BlackRock Inc. now owns 21,293,640 shares of the oil and gas company’s stock valued at $603,462,000 after buying an additional 20,994,466 shares during the period. Principal Financial Group Inc. boosted its position in shares of HollyFrontier Corporation by 129.6% during the second 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 buying an additional 2,373,560 shares during the period. Alliancebernstein L.P. boosted its position in shares of HollyFrontier Corporation by 130.5% during the first quarter. Alliancebernstein L.P. now owns 3,475,785 shares of the oil and gas company’s stock valued at $98,504,000 after buying an additional 1,967,907 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of HollyFrontier Corporation by 57.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,295,800 shares of the oil and gas company’s stock valued at $150,077,000 after buying an additional 1,926,908 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of HollyFrontier Corporation by 256.6% during the first quarter. Ameriprise Financial Inc. now owns 1,979,489 shares of the oil and gas company’s stock valued at $56,099,000 after buying an additional 1,424,358 shares during the period. Institutional investors and hedge funds own 83.84% of the company’s stock.
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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