$4.00 Billion in Sales Expected for HollyFrontier Corporation (HFC) This Quarter
Brokerages expect HollyFrontier Corporation (NYSE:HFC) to report $4.00 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for HollyFrontier’s earnings, with the lowest sales estimate coming in at $3.92 billion and the highest estimate coming in at $4.09 billion. HollyFrontier reported sales of $2.96 billion in the same quarter last year, which indicates a positive year over year growth rate of 35.1%. The business is expected to report its next earnings report on Wednesday, February 28th.
On average, analysts expect that HollyFrontier will report full-year sales of $4.00 billion for the current year, with estimates ranging from $13.67 billion to $14.35 billion. For the next fiscal year, analysts forecast that the firm will report sales of $14.28 billion per share, with estimates ranging from $12.96 billion to $15.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for HollyFrontier.
HollyFrontier (NYSE:HFC) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.25. HollyFrontier had a return on equity of 5.18% and a net margin of 2.55%. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year.
Several research firms recently commented on HFC. Piper Jaffray Companies reiterated a “hold” rating and issued a $38.00 target price on shares of HollyFrontier in a research note on Friday, November 17th. Macquarie reiterated an “underperform” rating on shares of HollyFrontier in a research note on Monday, October 23rd. Barclays PLC upped 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 upgraded HollyFrontier from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Monday, November 20th. Finally, BidaskClub upgraded HollyFrontier from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. HollyFrontier presently has an average rating of “Hold” and a consensus target price of $38.59.
Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in HollyFrontier by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 2,760,488 shares of the oil and gas company’s stock valued at $75,829,000 after acquiring an additional 11,604 shares during the period. Comerica Bank boosted its position in shares of HollyFrontier by 0.6% in the second quarter. Comerica Bank now owns 153,411 shares of the oil and gas company’s stock worth $4,230,000 after buying an additional 964 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of HollyFrontier by 2.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 507,510 shares of the oil and gas company’s stock worth $13,941,000 after buying an additional 12,343 shares during the period. Schroder Investment Management Group boosted its position in shares of HollyFrontier by 5.4% in the second quarter. Schroder Investment Management Group now owns 3,601,605 shares of the oil and gas company’s stock worth $100,845,000 after buying an additional 184,984 shares during the period. Finally, Bank of Nova Scotia boosted its position in shares of HollyFrontier by 233.7% in the second quarter. Bank of Nova Scotia now owns 717,500 shares of the oil and gas company’s stock worth $19,710,000 after buying an additional 502,500 shares during the period. 79.21% of the stock is owned by hedge funds and other institutional investors.
HollyFrontier (NYSE:HFC) opened at $44.05 on Friday. The company has a market capitalization of $7,808.88, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.03 and a beta of 1.21. HollyFrontier has a 12 month low of $23.46 and a 12 month high of $44.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.00 and a quick ratio of 0.98.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Monday, November 20th. HollyFrontier’s dividend payout ratio (DPR) is presently 69.47%.
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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