HollyFrontier Corporation’s (HFC) “Buy” Rating Reaffirmed at Scotiabank

Scotiabank reiterated their buy rating on shares of HollyFrontier Corporation (NYSE:HFC) in a research report sent to investors on Wednesday. Scotiabank currently has a $39.00 price target on the oil and gas company’s stock.

A number of other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of HollyFrontier Corporation from a sell rating to a hold rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of HollyFrontier Corporation from a buy rating to a hold rating in a research report on Wednesday, July 19th. Simmons reaffirmed a neutral rating and issued a $25.00 price objective (down previously from $27.00) on shares of HollyFrontier Corporation in a report on Wednesday, July 12th. Royal Bank Of Canada reaffirmed an outperform rating and issued a $38.00 price objective (up previously from $36.00) on shares of HollyFrontier Corporation in a report on Wednesday, August 9th. Finally, Barclays PLC reaffirmed an overweight rating and issued a $39.00 price objective (up previously from $37.00) on shares of HollyFrontier Corporation in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $36.39.

HollyFrontier Corporation (NYSE:HFC) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.25. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the firm posted $0.42 earnings per share. HollyFrontier Corporation’s revenue for the quarter was up 30.6% compared to the same quarter last year.

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Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of HollyFrontier Corporation by 1.7% during the second quarter. Vanguard Group Inc. now owns 15,844,018 shares of the oil and gas company’s stock worth $435,236,000 after buying an additional 260,132 shares during the last quarter. State Street Corp lifted its holdings in shares of HollyFrontier Corporation by 3.9% during the second quarter. State Street Corp now owns 8,194,765 shares of the oil and gas company’s stock worth $225,091,000 after buying an additional 311,196 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of HollyFrontier Corporation by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,412,302 shares of the oil and gas company’s stock worth $148,687,000 after buying an additional 116,502 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of HollyFrontier Corporation by 129.6% during the second quarter. Principal Financial Group Inc. now owns 4,204,355 shares of the oil and gas company’s stock worth $115,495,000 after buying an additional 2,373,560 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of HollyFrontier Corporation by 8.7% during the second quarter. Alliancebernstein L.P. now owns 3,776,442 shares of the oil and gas company’s stock worth $103,739,000 after buying an additional 300,657 shares during the last quarter. Institutional investors own 82.27% of the company’s stock.

HollyFrontier Corporation Company Profile

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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