HollyFrontier (NYSE:HFC) announced its quarterly earnings results on Wednesday. The oil and gas company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.32, MarketWatch Earnings reports. The business had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.42 billion. HollyFrontier had a net margin of 8.62% and a return on equity of 12.10%. HollyFrontier’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS.
Shares of NYSE:HFC traded up $4.18 during midday trading on Wednesday, hitting $67.44. The stock had a trading volume of 3,983,200 shares, compared to its average volume of 2,739,753. HollyFrontier has a 12 month low of $36.41 and a 12 month high of $83.28. The company has a current ratio of 2.38, a quick ratio of 1.21 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $10.92 billion, a PE ratio of 29.07, a P/E/G ratio of 1.12 and a beta of 1.16.
A number of analysts recently weighed in on the stock. US Capital Advisors upgraded shares of HollyFrontier from a “hold” rating to an “overweight” rating in a research report on Monday, October 15th. Jefferies Financial Group upgraded shares of HollyFrontier from an “underperform” rating to a “hold” rating and set a $62.00 price target on the stock in a research report on Tuesday, October 16th. Zacks Investment Research downgraded shares of HollyFrontier from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Mizuho assumed coverage on shares of HollyFrontier in a research report on Wednesday, August 1st. They issued a “neutral” rating and a $75.00 price target on the stock. Finally, Morgan Stanley increased their price target on shares of HollyFrontier from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Monday, July 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. HollyFrontier currently has an average rating of “Hold” and an average price target of $65.00.
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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