HollyFrontier (HFC) Posts Quarterly Earnings Results, Misses Expectations By $0.12 EPS

HollyFrontier (NYSE:HFC) released its quarterly earnings results on Wednesday. The oil and gas company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.12), Bloomberg Earnings reports. HollyFrontier had a net margin of 5.65% and a return on equity of 7.71%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year.

HollyFrontier (NYSE HFC) opened at $44.09 on Friday. The stock has a market capitalization of $7,872.70, a price-to-earnings ratio of 19.23, a PEG ratio of 1.23 and a beta of 1.12. 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 1-year low of $23.46 and a 1-year high of $53.21.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Tuesday, February 27th. HollyFrontier’s payout ratio is currently 29.20%.

In other news, Director Michael Jennings sold 4,500 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $44.50, for a total transaction of $200,250.00. Following the transaction, the director now directly owns 49,717 shares of the company’s stock, valued at $2,212,406.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James M. Stump sold 30,000 shares of the company’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $51.21, for a total value of $1,536,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,649 shares of company stock worth $3,515,728. Corporate insiders own 0.51% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Chemical Bank bought a new position in shares of HollyFrontier during the fourth quarter valued at $224,000. Green Square Capital LLC lifted its holdings in shares of HollyFrontier by 15.0% during the fourth quarter. Green Square Capital LLC now owns 220,339 shares of the oil and gas company’s stock valued at $11,286,000 after purchasing an additional 28,758 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of HollyFrontier by 11.2% during the fourth quarter. Xact Kapitalforvaltning AB now owns 17,035 shares of the oil and gas company’s stock valued at $873,000 after purchasing an additional 1,712 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of HollyFrontier by 7.1% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 212,017 shares of the oil and gas company’s stock valued at $10,860,000 after purchasing an additional 14,100 shares in the last quarter. Finally, MetLife Investment Advisors LLC bought a new position in shares of HollyFrontier during the fourth quarter valued at $5,745,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on the company. Barclays restated a “buy” rating and set a $65.00 price target on shares of HollyFrontier in a research report on Wednesday, January 10th. Tudor Pickering downgraded HollyFrontier from a “buy” rating to a “hold” rating in a report on Wednesday, November 29th. Argus raised HollyFrontier from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Monday, November 20th. Cowen reissued a “market perform” rating and issued a $38.00 target price (up from $35.00) on shares of HollyFrontier in a report on Friday, December 8th. Finally, Zacks Investment Research downgraded HollyFrontier from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. HollyFrontier currently has an average rating of “Hold” and a consensus target price of $42.80.

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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).

Earnings History for HollyFrontier (NYSE:HFC)

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