Shares of HollyFrontier Corp (NYSE:HFC) rose 6.6% during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $69.22 and last traded at $67.44. Approximately 3,983,292 shares were traded during mid-day trading, an increase of 45% from the average daily volume of 2,739,753 shares. The stock had previously closed at $63.26.
The oil and gas company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.32. The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.42 billion. HollyFrontier had a return on equity of 12.10% and a net margin of 8.62%. HollyFrontier’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share.
HFC has been the subject of a number of research reports. Royal Bank of Canada reiterated a “buy” rating and issued a $70.00 price target on shares of HollyFrontier in a report on Friday, August 3rd. US Capital Advisors upgraded HollyFrontier from a “hold” rating to an “overweight” rating in a report on Monday, October 15th. Jefferies Financial Group upgraded HollyFrontier from an “underperform” rating to a “hold” rating and set a $62.00 target price for the company in a report on Tuesday, October 16th. Morgan Stanley upped their target price on HollyFrontier from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Monday, July 16th. Finally, Mizuho began coverage on HollyFrontier in a report on Wednesday, August 1st. They set a “neutral” rating and a $75.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. HollyFrontier presently has a consensus rating of “Hold” and a consensus price target of $66.73.
A number of institutional investors have recently bought and sold shares of HFC. World Asset Management Inc increased its position in shares of HollyFrontier by 5.6% during the second quarter. World Asset Management Inc now owns 14,311 shares of the oil and gas company’s stock worth $979,000 after purchasing an additional 756 shares in the last quarter. BB&T Corp increased its position in shares of HollyFrontier by 2.6% during the third quarter. BB&T Corp now owns 30,388 shares of the oil and gas company’s stock worth $2,124,000 after purchasing an additional 776 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of HollyFrontier by 15.1% during the third quarter. Daiwa Securities Group Inc. now owns 6,431 shares of the oil and gas company’s stock worth $450,000 after purchasing an additional 843 shares in the last quarter. Dorsey Wright & Associates increased its position in shares of HollyFrontier by 1.3% during the second quarter. Dorsey Wright & Associates now owns 85,032 shares of the oil and gas company’s stock worth $5,819,000 after purchasing an additional 1,070 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its position in shares of HollyFrontier by 13.5% during the third quarter. IFM Investors Pty Ltd now owns 9,554 shares of the oil and gas company’s stock worth $668,000 after purchasing an additional 1,133 shares in the last quarter. Institutional investors own 87.55% of the company’s stock.
The stock has a market capitalization of $11.14 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 1.14 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.38 and a quick ratio of 1.21.
HollyFrontier Company Profile (NYSE:HFC)
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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