HollyFrontier Corporation (HFC) Rating Lowered to Underweight at J P Morgan Chase & Co
HollyFrontier Corporation (NYSE:HFC) was downgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a note issued to investors on Friday. They presently have a $34.00 price target on the oil and gas company’s stock, up from their previous price target of $33.00. J P Morgan Chase & Co’s price target points to a potential downside of 4.01% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Scotiabank set a $29.00 price target on shares of HollyFrontier Corporation and gave the company a “hold” rating in a research report on Monday, June 26th. BidaskClub raised shares of HollyFrontier Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised shares of HollyFrontier Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Simmons reaffirmed a “neutral” rating and issued a $25.00 price target (down previously from $27.00) on shares of HollyFrontier Corporation in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $38.00 price target (up previously from $36.00) on shares of HollyFrontier Corporation in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company. HollyFrontier Corporation currently has a consensus rating of “Hold” and an average price target of $34.05.
Shares of HollyFrontier Corporation (NYSE:HFC) opened at 35.42 on Friday. The firm has a market cap of $6.21 billion, a P/E ratio of 44.95 and a beta of 1.23. HollyFrontier Corporation has a 52-week low of $22.63 and a 52-week high of $37.00. The company has a 50 day moving average price of $32.68 and a 200-day moving average price of $28.60.
HollyFrontier Corporation (NYSE:HFC) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.20. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.24 billion. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The business’s revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. On average, analysts expect that HollyFrontier Corporation will post $1.62 earnings per share for the current fiscal year.
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A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in HollyFrontier Corporation by 7,017.5% in the 1st quarter. BlackRock Inc. now owns 21,293,640 shares of the oil and gas company’s stock valued at $603,462,000 after buying an additional 20,994,466 shares during the last quarter. Vanguard Group Inc. increased its stake in HollyFrontier Corporation by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 15,844,018 shares of the oil and gas company’s stock valued at $435,236,000 after buying an additional 260,132 shares during the last quarter. State Street Corp increased its stake in HollyFrontier Corporation by 3.9% in the 2nd 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 increased its stake in HollyFrontier Corporation by 2.2% in the 2nd 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. Finally, Principal Financial Group Inc. increased its stake in HollyFrontier Corporation by 129.6% in the 2nd 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. Hedge funds and other institutional investors own 82.47% of the company’s stock.
About HollyFrontier Corporation
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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