HollyFrontier Corporation (HFC) Releases Earnings Results, Beats Expectations By $0.25 EPS
HollyFrontier Corporation (NYSE:HFC) posted its earnings results on Wednesday. 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, Briefing.com reports. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.24 billion. HollyFrontier Corporation had a net margin of 2.55% and a return on equity of 5.23%. HollyFrontier Corporation’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share.
Shares of HollyFrontier Corporation (NYSE HFC) traded up $40.20 during midday trading on Friday, hitting $40.20. 932,807 shares of the company’s stock were exchanged, compared to its average volume of 2,390,325.
The firm has a market capitalization of $$7,135.24, a P/E ratio of 25.97 and a beta of 1.21. The firm has a market capitalization of $$7,135.24 and a P/E ratio of 25.97.
A number of analysts have recently weighed in on HFC shares. Zacks Investment Research upgraded shares of HollyFrontier Corporation from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Tuesday, October 17th. BidaskClub lowered shares of HollyFrontier Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. J P Morgan Chase & Co lowered shares of HollyFrontier Corporation from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $33.00 to $34.00 in a report on Friday, October 6th. Howard Weil raised their price objective on shares of HollyFrontier Corporation from $33.00 to $39.00 and gave the stock a “focus list” rating in a report on Thursday, September 28th. Finally, Cowen and Company restated a “hold” rating and issued a $30.00 price objective on shares of HollyFrontier Corporation in a report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $36.39.
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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