J P Morgan Chase & Co cut shares of HollyFrontier Corporation (NYSE:HFC) from a neutral rating to an underweight rating in a report published on Friday, October 6th, Marketbeat Ratings reports. The brokerage currently has $34.00 price target on the oil and gas company’s stock, up from their previous price target of $33.00.
Several other research firms have also recently issued reports on HFC. Scotiabank upgraded shares of HollyFrontier Corporation from an outperform rating to a focus stock rating and increased their target price for the stock from $33.00 to $39.00 in a research note on Saturday, September 30th. BidaskClub cut shares of HollyFrontier Corporation from a buy rating to a hold rating in a research report on Friday, August 11th. Royal Bank Of Canada reissued a buy rating and issued a $37.00 price target on shares of HollyFrontier Corporation in a report on Thursday, June 15th. Zacks Investment Research raised shares of HollyFrontier Corporation from a sell rating to a hold rating in a research note on Tuesday, August 1st. Finally, Barclays PLC lifted their price target on shares of HollyFrontier Corporation from $37.00 to $39.00 and gave the company an overweight rating in a research report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. HollyFrontier Corporation presently has an average rating of Hold and a consensus target price of $34.62.
HollyFrontier Corporation (NYSE HFC) opened at 36.09 on Friday. HollyFrontier Corporation has a 12-month low of $22.63 and a 12-month high of $37.00. The company has a market cap of $6.33 billion, a PE ratio of 45.80 and a beta of 1.23. The firm’s 50-day moving average price is $34.30 and its 200-day moving average price is $29.11.
HollyFrontier Corporation (NYSE:HFC) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The firm’s revenue was up 27.4% compared to the same quarter last year. Equities research analysts forecast that HollyFrontier Corporation will post $1.70 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Monday, August 21st. HollyFrontier Corporation’s dividend payout ratio is currently 167.09%.
Institutional investors and hedge funds have recently made changes to their positions in the company. AT Bancorp purchased a new stake in shares of HollyFrontier Corporation in the second quarter valued at $104,000. Toronto Dominion Bank grew its holdings in shares of HollyFrontier Corporation 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 purchasing an additional 235 shares during the last quarter. Ffcm LLC grew its holdings in shares of HollyFrontier Corporation 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 purchasing an additional 4,450 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of HollyFrontier Corporation 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 purchasing an additional 3,674 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of HollyFrontier Corporation by 18.1% in the first quarter. Van ECK Associates Corp now owns 7,001 shares of the oil and gas company’s stock worth $198,000 after purchasing an additional 1,073 shares during the last quarter. 82.25% of the stock is currently owned by institutional investors and hedge funds.
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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