HollyFrontier (HFC) Stock Rating Lowered by Zacks Investment Research
HollyFrontier (NYSE:HFC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “HollyFrontier is one of the largest independent oil refiners in the U.S. with the capability to process a wide mix of crude. While its access to some of the fastest growing domestic markets bode well for the downstream operator, the Petro-Canada Lubricants acquisition has helped HollyFrontier expand into a high-margin, less competitive business. A strong financial position and attractive yields are other positives in the HFC story. However, HollyFrontier has been bogged down by lingering issues pertaining to the refining margins, plus cost escalation associated with maintenance downtime and unplanned refinery shutdowns. As it is, we remain wary of the continued pressure on HollyFrontier's top line. Last but not the least, the U.S. refiners are feeling the pinch of higher RFS costs to comply with new cleaner gasoline production rules. Given these factors, we see HFC as a stock that ordinary investors should hold.”
HFC has been the topic of a number of other reports. Cowen restated a “hold” rating and set a $30.00 target price on shares of HollyFrontier in a research report on Tuesday, October 17th. JPMorgan Chase & Co. lowered shares of HollyFrontier from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $33.00 to $34.00 in a research report on Friday, October 6th. Royal Bank of Canada raised their target price on shares of HollyFrontier from $42.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Piper Jaffray Companies restated a “hold” rating and set a $38.00 target price on shares of HollyFrontier in a research report on Friday, November 17th. Finally, Howard Weil raised their target price on shares of HollyFrontier from $33.00 to $39.00 and gave the stock a “focus list” rating in a research report on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $40.67.
Shares of HollyFrontier (NYSE HFC) traded down $0.28 on Tuesday, hitting $51.22. 1,077,100 shares of the stock were exchanged, compared to its average volume of 2,758,588. The company has a current ratio of 2.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $9,120.00, a price-to-earnings ratio of 26.96, a PEG ratio of 2.15 and a beta of 1.30. HollyFrontier has a twelve month low of $23.46 and a twelve month high of $52.00.
HollyFrontier (NYSE:HFC) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.25. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.24 billion. HollyFrontier had a net margin of 2.55% and a return on equity of 5.18%. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. analysts expect that HollyFrontier will post 2.38 earnings per share for the current fiscal year.
In other HollyFrontier news, Director Michael Jennings sold 4,500 shares of the firm’s stock in a transaction 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 owns 49,717 shares of the company’s stock, valued at $2,212,406.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James H. Lee sold 5,149 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $47.17, for a total value of $242,878.33. Following the completion of the sale, the director now directly owns 52,240 shares of the company’s stock, valued at approximately $2,464,160.80. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its holdings in HollyFrontier by 6.3% in 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 period. Ffcm LLC lifted its holdings in HollyFrontier by 2,500.0% in 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 period. FNY Managed Accounts LLC acquired a new stake in HollyFrontier in the third quarter valued at $163,000. GLG Partners LP acquired a new stake in HollyFrontier in the second quarter valued at $202,000. Finally, Vantage Financial Partners Ltd. Inc. acquired a new stake in HollyFrontier in the second quarter valued at $204,000. 83.21% of the stock is owned by institutional investors.
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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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