HollyFrontier Corp (HFC) Shares Gap Up After Earnings Beat
HollyFrontier Corp (NYSE:HFC) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at ($37.74), but opened at $0.00. HollyFrontier Corp shares last traded at $0.00, with a volume of 5262921 shares traded.
The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.25. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.24 billion. HollyFrontier Corp had a return on equity of 5.23% and a net margin of 2.55%. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share.
A number of equities analysts have recently weighed in on HFC shares. Zacks Investment Research upgraded HollyFrontier Corp from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Tuesday, October 17th. BidaskClub lowered HollyFrontier Corp from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. J P Morgan Chase & Co lowered HollyFrontier Corp from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $33.00 to $34.00 in a research note on Friday, October 6th. Howard Weil increased their target price on HollyFrontier Corp from $33.00 to $39.00 and gave the stock a “focus list” rating in a research note on Thursday, September 28th. Finally, Cowen and Company reiterated a “hold” rating and set a $30.00 target price on shares of HollyFrontier Corp in a research note on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. HollyFrontier Corp presently has a consensus rating of “Hold” and an average price target of $36.39.
A number of large investors have recently made changes to their positions in HFC. Teachers Advisors LLC raised its position in HollyFrontier Corp by 2.2% during the 1st quarter. Teachers Advisors LLC now owns 410,968 shares of the oil and gas company’s stock worth $11,647,000 after purchasing an additional 9,031 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of HollyFrontier Corp by 56.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 23,781 shares of the oil and gas company’s stock worth $674,000 after acquiring an additional 8,586 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of HollyFrontier Corp in the 1st quarter worth about $246,000. Metropolitan Life Insurance Co. NY raised its position in shares of HollyFrontier Corp by 0.6% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 164,856 shares of the oil and gas company’s stock worth $4,672,000 after acquiring an additional 982 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its position in shares of HollyFrontier Corp by 81.7% in the 1st quarter. Tudor Investment Corp ET AL now owns 14,532 shares of the oil and gas company’s stock worth $412,000 after acquiring an additional 6,532 shares in the last quarter. 82.27% of the stock is owned by institutional investors and hedge funds.
The company has a quick ratio of 0.90, a current ratio of 1.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $7.12 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20.
HollyFrontier Corp 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).
Receive News & Ratings for HollyFrontier Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HollyFrontier Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.