HollyFrontier Corp (NYSE:HFC) Receives $39.08 Average Price Target from Brokerages

Shares of HollyFrontier Corp (NYSE:HFC) have been assigned an average recommendation of “Hold” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $38.92.

Several brokerages recently issued reports on HFC. Goldman Sachs Group lowered HollyFrontier from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $33.00 to $28.00 in a research report on Thursday, June 11th. Morgan Stanley raised their target price on HollyFrontier from $30.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. Tudor Pickering raised HollyFrontier from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Tuesday, June 2nd. ValuEngine raised HollyFrontier from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, JPMorgan Chase & Co. raised their target price on HollyFrontier from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th.

Shares of HFC traded down $1.43 during trading hours on Friday, reaching $28.21. The stock had a trading volume of 2,353,642 shares, compared to its average volume of 2,198,612. HollyFrontier has a 12 month low of $18.48 and a 12 month high of $58.88. The stock has a market capitalization of $4.57 billion, a PE ratio of 23.12 and a beta of 1.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 1.92. The company’s 50-day moving average is $31.41 and its two-hundred day moving average is $36.08.

HollyFrontier (NYSE:HFC) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.12. HollyFrontier had a return on equity of 12.69% and a net margin of 1.26%. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the prior year, the company earned $0.54 EPS. HollyFrontier’s revenue was down 12.7% compared to the same quarter last year. Equities analysts anticipate that HollyFrontier will post -0.37 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Tuesday, May 26th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 4.96%. HollyFrontier’s payout ratio is currently 28.57%.

A number of institutional investors have recently modified their holdings of the business. Assetmark Inc. grew its stake in shares of HollyFrontier by 76.7% in the 4th quarter. Assetmark Inc. now owns 606 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 263 shares during the period. Pictet Asset Management Ltd. grew its stake in shares of HollyFrontier by 0.3% in the 4th quarter. Pictet Asset Management Ltd. now owns 93,097 shares of the oil and gas company’s stock valued at $4,721,000 after buying an additional 300 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of HollyFrontier by 1.7% in the 1st quarter. Mutual of America Capital Management LLC now owns 20,205 shares of the oil and gas company’s stock valued at $495,000 after buying an additional 332 shares during the period. Piedmont Investment Advisors Inc. grew its stake in shares of HollyFrontier by 0.4% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 97,537 shares of the oil and gas company’s stock valued at $4,946,000 after buying an additional 361 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of HollyFrontier by 10.0% in the 1st quarter. Fifth Third Bancorp now owns 4,552 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 414 shares during the period. Hedge funds and other institutional investors own 82.65% of the company’s stock.

HollyFrontier Company Profile

HollyFrontier Corporation operates as an independent petroleum refiner in the United States. The company operates through three segments: Refining, Lubricants and Specialty Products, and HEP. It primarily produces high-value light products, such as gasoline, diesel and jet fuel, and specialty lubricant products, as well as specialty and modified asphalt.

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Analyst Recommendations for HollyFrontier (NYSE:HFC)

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