HollyFrontier Corporation (HFC) Lifted to Buy at Tudor Pickering
Tudor Pickering upgraded shares of HollyFrontier Corporation (NYSE:HFC) from a hold rating to a buy rating in a research report report published on Monday morning, MarketBeat Ratings reports.
Several other brokerages also recently commented on HFC. Scotiabank upgraded HollyFrontier Corporation from an outperform rating to a focus stock rating and boosted their price objective for the company from $33.00 to $39.00 in a research report on Saturday, September 30th. BidaskClub downgraded HollyFrontier Corporation from a buy rating to a hold rating in a research report on Friday, August 11th. Royal Bank Of Canada restated a buy rating and issued a $37.00 price objective on shares of HollyFrontier Corporation in a research report on Thursday, June 15th. Zacks Investment Research upgraded HollyFrontier Corporation from a sell rating to a hold rating in a research report on Tuesday, August 1st. Finally, Barclays PLC boosted their price objective on HollyFrontier Corporation from $37.00 to $39.00 and gave the company an overweight rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $34.15.
HollyFrontier Corporation (HFC) opened at 36.52 on Monday. HollyFrontier Corporation has a 52 week low of $22.63 and a 52 week high of $37.00. The firm has a 50-day moving average price of $33.42 and a 200-day moving average price of $28.80. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 46.35 and a beta of 1.23.
HollyFrontier Corporation (NYSE:HFC) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the previous year, the business earned $0.28 earnings per share. The business’s revenue was up 27.4% on a year-over-year basis. Analysts anticipate that HollyFrontier Corporation will post $1.65 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.32 annualized dividend and a yield of 3.61%. HollyFrontier Corporation’s payout ratio is currently 167.09%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank increased its stake in HollyFrontier Corporation by 6.3% during the second quarter. Toronto Dominion Bank now owns 3,994 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 235 shares during the last quarter. Afam Capital Inc. increased its stake in HollyFrontier Corporation by 1.6% during the second quarter. Afam Capital Inc. now owns 192,604 shares of the oil and gas company’s stock worth $5,291,000 after acquiring an additional 3,007 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in HollyFrontier Corporation by 7.1% during the second quarter. Public Employees Retirement System of Ohio now owns 78,995 shares of the oil and gas company’s stock worth $2,170,000 after acquiring an additional 5,261 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in HollyFrontier Corporation by 0.8% during the second quarter. Ameritas Investment Partners Inc. now owns 94,773 shares of the oil and gas company’s stock worth $2,603,000 after acquiring an additional 790 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in HollyFrontier Corporation by 10.7% during the second quarter. California State Teachers Retirement System now owns 367,677 shares of the oil and gas company’s stock worth $10,100,000 after acquiring an additional 35,524 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.
HollyFrontier Corporation 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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