HollyFrontier Corp. (HFC) Price Target Cut to $26.00 by Analysts at Piper Jaffray Cos.
HollyFrontier Corp. (NYSE:HFC) had its price objective cut by Piper Jaffray Cos. from $27.00 to $26.00 in a research report report published on Friday morning. They currently have a neutral rating on the stock.
HFC has been the subject of a number of other research reports. Barclays PLC reiterated a buy rating and set a $32.00 price target on shares of HollyFrontier Corp. in a research note on Friday, August 26th. Morgan Stanley restated a sell rating and issued a $26.00 target price on shares of HollyFrontier Corp. in a research note on Thursday, September 1st. Vetr upgraded shares of HollyFrontier Corp. from a hold rating to a buy rating and set a $27.50 target price for the company in a research note on Monday, August 22nd. Zacks Investment Research upgraded shares of HollyFrontier Corp. from a sell rating to a hold rating in a research note on Tuesday, June 7th. Finally, Credit Suisse Group AG restated a hold rating and issued a $32.00 target price on shares of HollyFrontier Corp. in a research note on Thursday, July 14th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $36.09.
HollyFrontier Corp. (NYSE:HFC) traded up 1.31% during mid-day trading on Friday, hitting $25.61. 621,793 shares of the stock were exchanged. HollyFrontier Corp. has a one year low of $22.07 and a one year high of $52.30. The company has a 50-day moving average price of $26.00 and a 200-day moving average price of $29.07. The company’s market cap is $4.50 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. Analysts forecast that HollyFrontier Corp. will post $0.80 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Tuesday, August 23rd will be given a $0.33 dividend. The ex-dividend date is Friday, August 19th. This represents a $1.32 annualized dividend and a dividend yield of 5.22%. HollyFrontier Corp.’s dividend payout ratio is presently -93.62%.
Several large investors have recently added to or reduced their stakes in HFC. Kleinwort Benson Investors Dublin Ltd acquired a new position in shares of HollyFrontier Corp. during the second quarter worth $67,706,000. Norges Bank acquired a new position in shares of HollyFrontier Corp. during the fourth quarter worth $72,127,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of HollyFrontier Corp. by 2,782.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,391,718 shares of the company’s stock worth $49,155,000 after buying an additional 1,343,443 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in shares of HollyFrontier Corp. by 139.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,701,297 shares of the company’s stock worth $40,439,000 after buying an additional 991,853 shares during the period. Finally, Edge Asset Management Inc. boosted its position in shares of HollyFrontier Corp. by 40.6% in the second quarter. Edge Asset Management Inc. now owns 2,731,860 shares of the company’s stock worth $64,936,000 after buying an additional 788,402 shares during the period. 83.90% of the stock is currently owned by institutional investors and hedge funds.
About HollyFrontier Corp.
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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