Barclays Reaffirms Buy Rating for HollyFrontier (HFC)

Barclays reissued their buy rating on shares of HollyFrontier (NYSE:HFC) in a research report released on Thursday. They currently have a $83.00 price target on the oil and gas company’s stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley initiated coverage on HollyFrontier in a report on Tuesday, February 12th. They issued an equal weight rating and a $65.00 price objective on the stock. ValuEngine upgraded HollyFrontier from a sell rating to a hold rating in a report on Wednesday, January 2nd. Jefferies Financial Group reiterated a hold rating on shares of HollyFrontier in a report on Thursday, December 20th. Cowen set a $76.00 price target on HollyFrontier and gave the company a hold rating in a report on Monday, December 3rd. Finally, Tudor Pickering cut shares of HollyFrontier from a buy rating to a hold rating in a research note on Friday, February 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $72.54.

HFC traded up $0.26 during trading on Thursday, reaching $55.51. The company’s stock had a trading volume of 19,878 shares, compared to its average volume of 1,885,551. HollyFrontier has a 52-week low of $42.42 and a 52-week high of $83.28. The firm has a market capitalization of $9.72 billion, a PE ratio of 8.65, a P/E/G ratio of 1.08 and a beta of 1.18. The company has a current ratio of 2.50, a quick ratio of 1.30 and a debt-to-equity ratio of 0.37.

HollyFrontier (NYSE:HFC) last announced its quarterly earnings data on Wednesday, February 20th. The oil and gas company reported $2.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.26. HollyFrontier had a return on equity of 17.91% and a net margin of 6.20%. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, sell-side analysts predict that HollyFrontier will post 5.77 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 27th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, February 26th. This represents a $1.32 annualized dividend and a dividend yield of 2.38%. HollyFrontier’s dividend payout ratio is presently 20.50%.

In related news, Director Robert J. Kostelnik sold 1,500 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $61.62, for a total transaction of $92,430.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can grew its position in HollyFrontier by 7.9% in the 3rd quarter. Bank of Montreal Can now owns 200,187 shares of the oil and gas company’s stock worth $13,993,000 after purchasing an additional 14,715 shares during the last quarter. First Hawaiian Bank bought a new position in shares of HollyFrontier in the third quarter valued at approximately $147,000. Aperio Group LLC boosted its holdings in shares of HollyFrontier by 29.9% in the third quarter. Aperio Group LLC now owns 102,175 shares of the oil and gas company’s stock valued at $7,142,000 after acquiring an additional 23,490 shares in the last quarter. Oakbrook Investments LLC boosted its holdings in shares of HollyFrontier by 35.2% in the third quarter. Oakbrook Investments LLC now owns 9,495 shares of the oil and gas company’s stock valued at $664,000 after acquiring an additional 2,470 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of HollyFrontier by 19.2% in the third quarter. Strs Ohio now owns 7,141 shares of the oil and gas company’s stock valued at $499,000 after acquiring an additional 1,152 shares in the last quarter. 84.17% of the stock is owned by hedge funds and other institutional investors.

About HollyFrontier

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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