HollyFrontier Corporation (HFC) Expected to Post Quarterly Sales of $4.04 Billion
Brokerages expect that HollyFrontier Corporation (NYSE:HFC) will report sales of $4.04 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for HollyFrontier’s earnings, with the highest sales estimate coming in at $4.20 billion and the lowest estimate coming in at $3.92 billion. HollyFrontier reported sales of $2.96 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 36.5%. The business is scheduled to issue its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that HollyFrontier will report full year sales of $4.04 billion for the current fiscal year, with estimates ranging from $13.84 billion to $14.46 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $14.48 billion per share, with estimates ranging from $13.84 billion to $15.13 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover HollyFrontier.
HollyFrontier (NYSE:HFC) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.89 by $0.25. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.24 billion. HollyFrontier had a return on equity of 5.18% and a net margin of 2.55%. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS.
HFC has been the topic of several recent research reports. Scotiabank reiterated a “buy” rating and issued a $33.00 price target on shares of HollyFrontier in a report on Friday, September 8th. Royal Bank of Canada reiterated a “buy” rating and issued a $38.00 price target on shares of HollyFrontier in a report on Friday, September 8th. Howard Weil increased their price target on HollyFrontier from $33.00 to $39.00 and gave the stock a “focus list” rating in a report on Thursday, September 28th. J P Morgan Chase & Co lowered HollyFrontier from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $33.00 to $34.00 in a report on Friday, October 6th. Finally, Tudor Pickering upgraded HollyFrontier from a “hold” rating to a “buy” rating in a report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $40.67.
Shares of HollyFrontier (NYSE:HFC) traded up $0.81 during trading hours on Thursday, reaching $48.06. The company’s stock had a trading volume of 2,100,700 shares, compared to its average volume of 2,799,589. The company has a market capitalization of $8,376.15, a price-to-earnings ratio of 30.48, a P/E/G ratio of 1.99 and a beta of 1.31. The company has a current ratio of 2.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.41. HollyFrontier has a 1-year low of $23.46 and a 1-year high of $48.28.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Stockholders of record on Tuesday, November 21st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Monday, November 20th. HollyFrontier’s dividend payout ratio (DPR) is presently 69.47%.
In other news, Director Michael Jennings sold 4,500 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $44.50, for a total value of $200,250.00. Following the completion of the sale, the director now directly owns 49,717 shares of the company’s stock, valued at $2,212,406.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of HollyFrontier in the second quarter worth approximately $204,000. Toronto Dominion Bank increased its position in shares of HollyFrontier by 6.3% during the second quarter. Toronto Dominion Bank now owns 3,994 shares of the oil and gas company’s stock valued at $110,000 after acquiring an additional 235 shares during the last quarter. FNY Managed Accounts LLC purchased a new stake in shares of HollyFrontier during the third quarter valued at approximately $163,000. Ffcm LLC increased its position in shares of HollyFrontier by 2,500.0% during the second quarter. Ffcm LLC now owns 4,628 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 4,450 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of HollyFrontier by 304.6% during the second quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 3,674 shares during the last quarter. 83.31% of the stock is owned by hedge funds and other institutional investors.
HollyFrontier 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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