HollyFrontier (NYSE:HFC) Upgraded to Buy by Argus

Argus upgraded shares of HollyFrontier (NYSE:HFC) from a hold rating to a buy rating in a research note issued to investors on Monday, November 20th, MarketBeat Ratings reports. The brokerage currently has $53.00 price objective on the oil and gas company’s stock.

HFC has been the subject of a number of other reports. Piper Jaffray Companies restated a hold rating and set a $38.00 target price on shares of HollyFrontier in a report on Friday, November 17th. Macquarie restated an underperform rating on shares of HollyFrontier in a report on Monday, October 23rd. Barclays raised their target price on HollyFrontier from $47.00 to $57.00 and gave the company an overweight rating in a report on Tuesday, November 14th. BidaskClub upgraded HollyFrontier from a hold rating to a buy rating in a report on Saturday, August 5th. Finally, Goldman Sachs Group upgraded HollyFrontier from a sell rating to a neutral rating and set a $26.00 target price for the company in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $39.20.

HollyFrontier (NYSE HFC) traded up $0.22 during midday trading on Monday, reaching $45.32. The company had a trading volume of 3,216,059 shares, compared to its average volume of 2,804,111. HollyFrontier has a 1 year low of $23.46 and a 1 year high of $46.16. The company has a current ratio of 2.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.41. The firm has a market cap of $8,100.00, a P/E ratio of 29.61, a P/E/G ratio of 2.06 and a beta of 1.30.

HollyFrontier (NYSE:HFC) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.25. The business 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 company’s revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. research analysts predict that HollyFrontier will post 2.23 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Tuesday, November 21st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Monday, November 20th. HollyFrontier’s dividend payout ratio (DPR) is presently 69.47%.

In other news, Director Michael Jennings sold 4,500 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $44.50, for a total transaction of $200,250.00. Following the sale, the director now owns 49,717 shares of the company’s stock, valued at approximately $2,212,406.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vantage Financial Partners Ltd. Inc. acquired a new position in HollyFrontier during the second quarter worth approximately $204,000. AT Bancorp acquired a new position in HollyFrontier during the second quarter worth approximately $104,000. Toronto Dominion Bank grew its stake in shares of HollyFrontier by 6.3% in the 2nd quarter. Toronto Dominion Bank now owns 3,994 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 235 shares during the last quarter. FNY Managed Accounts LLC purchased a new position in shares of HollyFrontier in the 3rd quarter valued at approximately $163,000. Finally, Ffcm LLC grew its stake in shares of HollyFrontier by 2,500.0% in the 2nd quarter. Ffcm LLC now owns 4,628 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 4,450 shares during the last quarter. 83.31% of the stock is currently owned by 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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