Wall Street brokerages forecast that HollyFrontier Corporation (NYSE:HFC) will announce $3.54 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for HollyFrontier Corporation’s earnings, with the lowest sales estimate coming in at $3.15 billion and the highest estimate coming in at $3.91 billion. HollyFrontier Corporation posted sales of $2.85 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 24.2%. The company is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, November 1st.
On average, analysts expect that HollyFrontier Corporation will report full year sales of $3.54 billion for the current year, with estimates ranging from $12.84 billion to $13.69 billion. For the next year, analysts forecast that the business will post sales of $13.47 billion per share, with estimates ranging from $13.17 billion to $14.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow HollyFrontier Corporation.
HollyFrontier Corporation (NYSE:HFC) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.20. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. HollyFrontier Corporation’s revenue was up 27.4% on a year-over-year basis.
Several research firms have recently issued reports on HFC. Cowen and Company reaffirmed a “hold” rating and set a $30.00 price objective on shares of HollyFrontier Corporation in a research report on Tuesday. Barclays PLC reaffirmed an “overweight” rating and set a $39.00 price objective (up from $37.00) on shares of HollyFrontier Corporation in a research report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $38.00 price objective (up from $36.00) on shares of HollyFrontier Corporation in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of HollyFrontier Corporation from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Tuesday. Finally, BidaskClub cut shares of HollyFrontier Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $34.29.
Shares of HollyFrontier Corporation (NYSE HFC) opened at 36.32 on Wednesday. HollyFrontier Corporation has a one year low of $22.63 and a one year high of $37.00. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 46.09 and a beta of 1.23. The stock’s 50 day moving average price is $34.00 and its 200 day moving average price is $28.95.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd were given a $0.33 dividend. The ex-dividend date 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%.
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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wedbush Securities Inc. lifted its position in HollyFrontier Corporation by 0.7% in the second quarter. Wedbush Securities Inc. now owns 10,875 shares of the oil and gas company’s stock valued at $299,000 after acquiring an additional 71 shares during the last quarter. Utah Retirement Systems lifted its position in HollyFrontier Corporation by 0.3% in the first quarter. Utah Retirement Systems now owns 29,582 shares of the oil and gas company’s stock valued at $838,000 after acquiring an additional 100 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in HollyFrontier Corporation by 1.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 7,707 shares of the oil and gas company’s stock valued at $212,000 after acquiring an additional 100 shares during the last quarter. World Asset Management Inc lifted its position in HollyFrontier Corporation by 1.1% in the second quarter. World Asset Management Inc now owns 15,813 shares of the oil and gas company’s stock valued at $434,000 after acquiring an additional 173 shares during the last quarter. Finally, Vantage Financial Partners Ltd. Inc. purchased a new stake in HollyFrontier Corporation in the second quarter valued at $204,000. 82.25% of the stock is owned by hedge funds and other institutional investors.
About HollyFrontier Corporation
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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