HollyFrontier (NYSE:HFC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The brokerage currently has a $51.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.02% from the company’s previous close.
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. Finally, we expect improving refining outlook to buoy the company’s bottom line in the fourth quarter of 2017. Consequently, we think HollyFrontier offers substantial upside potential from the current price levels and view it as a preferred energy play to own now.”
Other analysts have also issued research reports about the stock. Barclays reissued a “buy” rating and issued a $65.00 price target on shares of HollyFrontier in a report on Wednesday, January 10th. Tudor Pickering lowered shares of HollyFrontier from a “buy” rating to a “hold” rating in a report on Wednesday, November 29th. Argus raised shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Monday, November 20th. Cowen reissued a “market perform” rating and issued a $38.00 price target (up previously from $35.00) on shares of HollyFrontier in a report on Friday, December 8th. Finally, Credit Suisse Group began coverage on shares of HollyFrontier in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $51.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $42.93.
Shares of HollyFrontier (NYSE HFC) opened at $46.78 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 2.00 and a debt-to-equity ratio of 0.41. The firm has a market cap of $8,023.38, a P/E ratio of 29.20, a P/E/G ratio of 1.26 and a beta of 1.12. HollyFrontier has a fifty-two week low of $23.46 and a fifty-two week high of $53.21.
In other news, SVP James M. Stump sold 30,000 shares of HollyFrontier stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $51.21, for a total transaction of $1,536,300.00. Following the transaction, the senior vice president now directly owns 41,849 shares of the company’s stock, valued at $2,143,087.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James H. Lee sold 5,149 shares of HollyFrontier stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $47.17, for a total transaction of $242,878.33. Following the transaction, the director now directly owns 52,240 shares in the company, valued at $2,464,160.80. The disclosure for this sale can be found here. Insiders have sold a total of 69,649 shares of company stock valued at $3,515,728 in the last ninety days. Company insiders own 0.51% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HFC. Voya Investment Management LLC boosted its position in shares of HollyFrontier by 1.7% during the second quarter. Voya Investment Management LLC now owns 49,682 shares of the oil and gas company’s stock worth $1,365,000 after purchasing an additional 832 shares in the last quarter. Balyasny Asset Management LLC boosted its position in shares of HollyFrontier by 6.2% during the second quarter. Balyasny Asset Management LLC now owns 32,321 shares of the oil and gas company’s stock worth $888,000 after purchasing an additional 1,889 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of HollyFrontier by 1,974.5% during the second quarter. Janus Henderson Group PLC now owns 638,955 shares of the oil and gas company’s stock worth $17,552,000 after purchasing an additional 608,155 shares in the last quarter. State Street Corp boosted its position in shares of HollyFrontier by 3.9% during the second quarter. State Street Corp now owns 8,194,765 shares of the oil and gas company’s stock worth $225,091,000 after purchasing an additional 311,196 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in shares of HollyFrontier during the second quarter worth $493,000. 84.51% of the stock is currently owned by institutional investors.
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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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