Cowen Reaffirms “Market Perform” Rating for HollyFrontier (HFC)
Cowen reissued their market perform rating on shares of HollyFrontier (NYSE:HFC) in a report issued on Friday, MarketBeat.com reports. Cowen currently has a $38.00 target price on the oil and gas company’s stock, up from their prior target price of $35.00.
Several other analysts have also issued reports on the company. BidaskClub lowered HollyFrontier from a buy rating to a hold rating in a report on Friday, August 11th. Scotiabank reaffirmed a buy rating and issued a $33.00 price target on shares of HollyFrontier in a research report on Friday, September 8th. Royal Bank of Canada reaffirmed a buy rating and issued a $38.00 price target on shares of HollyFrontier in a research report on Friday, September 8th. Howard Weil lifted their target price on HollyFrontier from $33.00 to $39.00 and gave the stock a focus list rating in a research report on Thursday, September 28th. Finally, J P Morgan Chase & Co downgraded HollyFrontier from a neutral rating to an underweight rating and lifted their target price for the stock from $33.00 to $34.00 in a research report on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. HollyFrontier has a consensus rating of Hold and an average price target of $39.73.
HollyFrontier (NYSE:HFC) opened at $46.61 on Friday. 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 stock has a market capitalization of $8,099.61, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 2.00 and a beta of 1.31. HollyFrontier has a one year low of $23.46 and a one year high of $46.91.
HollyFrontier (NYSE:HFC) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.25. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.24 billion. HollyFrontier had a return on equity of 5.18% and a net margin of 2.55%. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. equities research analysts predict that HollyFrontier will post 2.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Tuesday, November 21st will be paid a $0.33 dividend. The ex-dividend date is Monday, November 20th. This represents a $1.32 dividend on an annualized basis and a yield of 2.83%. HollyFrontier’s dividend payout ratio (DPR) is currently 69.47%.
In other HollyFrontier news, Director Michael Jennings sold 4,500 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were 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 in the company, valued at approximately $2,212,406.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in HollyFrontier by 1.7% during the second quarter. Vanguard Group Inc. now owns 15,844,018 shares of the oil and gas company’s stock worth $435,236,000 after buying an additional 260,132 shares during the last quarter. State Street Corp grew its holdings in shares of HollyFrontier by 3.9% during the second quarter. State Street Corp now owns 8,194,765 shares of the oil and gas company’s stock valued at $225,091,000 after buying an additional 311,196 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of HollyFrontier by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,412,302 shares of the oil and gas company’s stock valued at $148,687,000 after buying an additional 116,502 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of HollyFrontier by 129.6% during the second quarter. Principal Financial Group Inc. now owns 4,204,355 shares of the oil and gas company’s stock valued at $115,495,000 after buying an additional 2,373,560 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of HollyFrontier by 8.0% during the third quarter. Schroder Investment Management Group now owns 3,889,796 shares of the oil and gas company’s stock valued at $139,994,000 after buying an additional 288,191 shares during the last quarter. 83.31% of the stock is owned by hedge funds and other institutional investors.
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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