HollyFrontier (NYSE:HFC) had its price objective lifted by Cowen from $38.00 to $40.00 in a research report sent to investors on Wednesday morning. Cowen currently has a market perform rating on the oil and gas company’s stock.
HFC has been the topic of several other research reports. Piper Jaffray Companies reissued a hold rating and set a $38.00 target price on shares of HollyFrontier in a research note on Friday, November 17th. Zacks Investment Research raised HollyFrontier from a hold rating to a strong-buy rating and set a $51.00 target price on the stock in a research note on Tuesday, February 13th. Barclays lifted their target price on HollyFrontier from $47.00 to $57.00 and gave the company an overweight rating in a research note on Tuesday, November 14th. Argus raised HollyFrontier from a hold rating to a buy rating and set a $53.00 target price on the stock in a research note on Monday, November 20th. Finally, Goldman Sachs Group raised HollyFrontier from a sell rating to a neutral rating and set a $26.00 target price on the stock in a research note on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $42.80.
HollyFrontier (HFC) opened at $44.41 on Wednesday. HollyFrontier has a 12-month low of $23.46 and a 12-month high of $53.21. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.98 and a current ratio of 2.00. The firm has a market capitalization of $8,151.02, a PE ratio of 29.67, a PEG ratio of 1.28 and a beta of 1.12.
HollyFrontier (NYSE:HFC) last posted its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.12). HollyFrontier had a net margin of 2.55% and a return on equity of 5.18%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the firm earned ($0.06) earnings per share. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. sell-side analysts predict that HollyFrontier will post 2.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, February 27th. HollyFrontier’s dividend payout ratio is currently 69.47%.
In other news, Director Michael Jennings sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $44.50, for a total transaction of $200,250.00. Following the transaction, the director now owns 49,717 shares of the company’s stock, valued at approximately $2,212,406.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP James M. Stump sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $51.21, for a total value of $1,536,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,649 shares of company stock worth $3,515,728. Corporate insiders own 0.51% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HFC. BlackRock Inc. boosted its holdings in HollyFrontier by 2.7% during the 4th quarter. BlackRock Inc. now owns 21,620,652 shares of the oil and gas company’s stock valued at $1,107,409,000 after acquiring an additional 565,625 shares during the period. Schroder Investment Management Group boosted its holdings in HollyFrontier by 2.3% during the 4th quarter. Schroder Investment Management Group now owns 3,978,708 shares of the oil and gas company’s stock valued at $203,789,000 after acquiring an additional 88,912 shares during the period. Alliancebernstein L.P. boosted its holdings in HollyFrontier by 1.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,599,830 shares of the oil and gas company’s stock valued at $184,383,000 after acquiring an additional 52,890 shares during the period. Bank of New York Mellon Corp boosted its holdings in HollyFrontier by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,952,567 shares of the oil and gas company’s stock valued at $151,230,000 after acquiring an additional 162,312 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in HollyFrontier by 48.4% during the 4th quarter. APG Asset Management N.V. now owns 2,065,017 shares of the oil and gas company’s stock valued at $88,083,000 after acquiring an additional 673,300 shares during the period. 84.43% of the stock is currently owned by hedge funds and other 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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