JPMorgan Chase & Co. Trims HollyFrontier (NYSE:HFC) Target Price to $50.00
HollyFrontier (NYSE:HFC) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $55.00 to $50.00 in a research note issued on Tuesday, BenzingaRatingsTable reports. The brokerage presently has an “underweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 1.85% from the company’s previous close.
Several other analysts have also recently weighed in on HFC. Morgan Stanley set a $54.00 price objective on shares of HollyFrontier and gave the stock a “hold” rating in a research note on Friday, May 17th. ValuEngine upgraded shares of HollyFrontier from a “sell” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. HollyFrontier has a consensus rating of “Hold” and an average target price of $59.19.
HollyFrontier stock traded down $0.32 during midday trading on Tuesday, hitting $50.94. The company’s stock had a trading volume of 47,347 shares, compared to its average volume of 2,143,259. HollyFrontier has a 1-year low of $37.73 and a 1-year high of $72.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.08 and a quick ratio of 1.10. The company has a 50-day moving average price of $47.33 and a two-hundred day moving average price of $46.85. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.03 and a beta of 1.46.
In other news, Director Franklin Myers bought 2,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $49.72 per share, with a total value of $124,300.00. Following the acquisition, the director now directly owns 24,989 shares in the company, valued at $1,242,453.08. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.49% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in HollyFrontier by 17.5% in the 1st quarter. AQR Capital Management LLC now owns 11,776,317 shares of the oil and gas company’s stock valued at $580,219,000 after buying an additional 1,753,888 shares during the period. Northern Trust Corp increased its holdings in HollyFrontier by 1.4% in the 2nd quarter. Northern Trust Corp now owns 2,872,017 shares of the oil and gas company’s stock valued at $132,917,000 after buying an additional 39,797 shares during the period. AJO LP increased its holdings in HollyFrontier by 13.4% in the 1st quarter. AJO LP now owns 1,862,805 shares of the oil and gas company’s stock valued at $91,780,000 after buying an additional 220,651 shares during the period. LSV Asset Management increased its holdings in HollyFrontier by 21.8% in the 2nd quarter. LSV Asset Management now owns 1,796,657 shares of the oil and gas company’s stock valued at $83,149,000 after buying an additional 321,600 shares during the period. Finally, Great West Life Assurance Co. Can increased its holdings in HollyFrontier by 13.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,482,086 shares of the oil and gas company’s stock valued at $72,800,000 after buying an additional 170,562 shares during the period. 84.39% of the stock is currently owned by hedge funds and other institutional investors.
HollyFrontier Corporation operates as an independent petroleum refiner in the United States. The company operates through three segments: Refining, Lubricants and Specialty Products, and HEP. It primarily produces high-value light products, such as gasoline, diesel and jet fuel, and specialty lubricant products, as well as specialty and modified asphalt.
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