HollyFrontier Corporation (HFC) Receives Hold Rating from Cowen and Company
Cowen and Company restated their hold rating on shares of HollyFrontier Corporation (NYSE:HFC) in a research note published on Tuesday morning. They currently have a $30.00 price objective on the oil and gas company’s stock.
Several other equities analysts also recently weighed in on the company. BidaskClub upgraded HollyFrontier Corporation from a sell rating to a hold rating in a research report on Saturday, June 24th. Royal Bank Of Canada reaffirmed a buy rating and issued a $38.00 price target on shares of HollyFrontier Corporation in a report on Friday, September 8th. Tudor Pickering raised HollyFrontier Corporation from a hold rating to a buy rating in a report on Monday, October 9th. Scotiabank set a $29.00 price target on HollyFrontier Corporation and gave the company a hold rating in a report on Monday, June 26th. Finally, Zacks Investment Research raised 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, seven have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $34.62.
HollyFrontier Corporation (NYSE HFC) traded up 0.372% during mid-day trading on Tuesday, reaching $36.455. The company’s stock had a trading volume of 656,679 shares. The firm’s 50 day moving average is $34.00 and its 200-day moving average is $28.95. HollyFrontier Corporation has a 12-month low of $22.63 and a 12-month high of $37.00. The company has a market cap of $6.40 billion, a PE ratio of 46.263 and a beta of 1.23.
HollyFrontier Corporation (NYSE:HFC) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.24 billion. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. Equities analysts anticipate that HollyFrontier Corporation will post $1.70 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.32 dividend on an annualized basis and a yield of 3.63%. HollyFrontier Corporation’s dividend payout ratio (DPR) is presently 167.09%.
Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in HollyFrontier Corporation by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 2,760,488 shares of the oil and gas company’s stock valued at $75,829,000 after purchasing an additional 11,604 shares during the period. Comerica Bank boosted its holdings in HollyFrontier Corporation by 0.6% in the second quarter. Comerica Bank now owns 153,411 shares of the oil and gas company’s stock valued at $4,230,000 after purchasing an additional 964 shares during the period. SG Americas Securities LLC boosted its holdings in 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 purchasing an additional 13,790 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in HollyFrontier Corporation by 2.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 507,510 shares of the oil and gas company’s stock valued at $13,941,000 after purchasing an additional 12,343 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in HollyFrontier Corporation by 5.4% in the second quarter. Schroder Investment Management Group now owns 3,601,605 shares of the oil and gas company’s stock valued at $100,845,000 after purchasing an additional 184,984 shares during the period. Hedge funds and other institutional investors own 82.25% 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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