HollyFrontier Corp. (NYSE:HFC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “HollyFrontier Corporation is engaged in refining petroleum. It produces and markets gasoline, diesel, jet fuel, asphalt, heavy products and specialty lubricant products. HollyFrontier Corporation, formerly known as Holly Corporation, is headquartered in Dallas, Texas. “
HFC has been the subject of a number of other research reports. Barclays PLC restated a “buy” rating and set a $32.00 price objective on shares of HollyFrontier Corp. in a research report on Friday, August 26th. Morgan Stanley restated a “sell” rating and set a $26.00 price objective on shares of HollyFrontier Corp. in a research report on Thursday, September 1st. Piper Jaffray Cos. upped their price objective on shares of HollyFrontier Corp. from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, August 22nd. Vetr upgraded shares of HollyFrontier Corp. from a “hold” rating to a “buy” rating and set a $27.50 price objective for the company in a research report on Monday, August 22nd. Finally, Simmons restated a “neutral” rating and set a $24.00 price objective (up previously from $20.00) on shares of HollyFrontier Corp. in a research report on Friday, August 5th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.09.
HollyFrontier Corp. (NYSE:HFC) traded down 4.2514% during trading on Wednesday, reaching $24.9425. 856,557 shares of the company were exchanged. The stock has a 50 day moving average price of $25.32 and a 200 day moving average price of $27.88. HollyFrontier Corp. has a 12 month low of $22.07 and a 12 month high of $52.30. The firm’s market capitalization is $4.38 billion.
HollyFrontier Corp. (NYSE:HFC) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.04. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.35 billion. HollyFrontier Corp. had a positive return on equity of 8.00% and a negative net margin of 2.09%. The firm’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 EPS. On average, analysts expect that HollyFrontier Corp. will post $0.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Tuesday, August 23rd were paid a $0.33 dividend. The ex-dividend date was Friday, August 19th. This represents a $1.32 annualized dividend and a yield of 5.07%. HollyFrontier Corp.’s dividend payout ratio (DPR) is presently -93.62%.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in HollyFrontier Corp. by 0.6% in the second quarter. Vanguard Group Inc. now owns 14,939,459 shares of the company’s stock valued at $355,111,000 after buying an additional 87,200 shares during the period. BlackRock Fund Advisors boosted its position in shares of HollyFrontier Corp. by 5.6% in the second quarter. BlackRock Fund Advisors now owns 9,865,424 shares of the company’s stock valued at $234,501,000 after buying an additional 527,218 shares in the last quarter. State Street Corp boosted its position in shares of HollyFrontier Corp. by 5.1% in the second quarter. State Street Corp now owns 7,573,073 shares of the company’s stock valued at $180,013,000 after buying an additional 369,807 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of HollyFrontier Corp. by 5.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,505,937 shares of the company’s stock valued at $130,876,000 after buying an additional 262,357 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of HollyFrontier Corp. by 12.0% in the second quarter. LSV Asset Management now owns 3,708,653 shares of the company’s stock valued at $88,154,000 after buying an additional 397,895 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.
HollyFrontier Corp. Company Profile
HollyFrontier Corporation (HollyFrontier) is an independent petroleum refiner. The Company produces various refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. The Company operates through two segments: Refining and Holly Energy Partners, L.P.
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