HollyFrontier (NYSE:HFC) Given New $57.00 Price Target at Barclays

HollyFrontier (NYSE:HFC) had its price target lifted by research analysts at Barclays from $47.00 to $57.00 in a report released on Tuesday, November 14th. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Barclays’ price objective would indicate a potential upside of 28.81% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $38.00 price target (up previously from $36.00) on shares of HollyFrontier in a research note on Wednesday, August 9th. BidaskClub cut HollyFrontier from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Howard Weil boosted their price target on HollyFrontier from $33.00 to $39.00 and gave the stock a “focus list” rating in a research note on Thursday, September 28th. Scotiabank raised HollyFrontier from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 2nd. Finally, Cowen reaffirmed a “hold” rating and issued a $30.00 price objective on shares of HollyFrontier in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. HollyFrontier currently has a consensus rating of “Hold” and a consensus price target of $38.59.

HollyFrontier (HFC) traded down $0.23 on Tuesday, hitting $44.25. The stock had a trading volume of 2,458,731 shares, compared to its average volume of 2,455,499. The stock has a market cap of $7,844.33, a PE ratio of 28.55, a PEG ratio of 2.04 and a beta of 1.30. The company has a current ratio of 2.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.41. HollyFrontier has a 52 week low of $23.46 and a 52 week high of $45.33.

HollyFrontier (NYSE:HFC) last released its earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.25. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.24 billion. HollyFrontier had a return on equity of 5.18% and a net margin of 2.55%. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. sell-side analysts predict that HollyFrontier will post 2.17 EPS for the current fiscal year.

In other news, Director Michael Jennings sold 4,500 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $44.50, for a total value of $200,250.00. Following the completion of the transaction, the director now owns 49,717 shares of the company’s stock, valued at $2,212,406.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HFC. AT Bancorp bought a new position in shares of HollyFrontier in the second quarter worth about $104,000. Toronto Dominion Bank lifted its position in shares of HollyFrontier by 6.3% in the second quarter. Toronto Dominion Bank now owns 3,994 shares of the oil and gas company’s stock worth $110,000 after buying an additional 235 shares in the last quarter. Ffcm LLC lifted its position in shares of HollyFrontier by 2,500.0% in the second quarter. Ffcm LLC now owns 4,628 shares of the oil and gas company’s stock worth $130,000 after buying an additional 4,450 shares in the last quarter. IFP Advisors Inc lifted its position in shares of HollyFrontier by 304.6% in the second quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock worth $134,000 after buying an additional 3,674 shares in the last quarter. Finally, FNY Managed Accounts LLC purchased a new stake in shares of HollyFrontier in the third quarter worth about $163,000. 83.31% of the stock is owned by hedge funds and other institutional investors.

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About HollyFrontier

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).

Analyst Recommendations for HollyFrontier (NYSE:HFC)

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