HollyFrontier Corp (NYSE:HFC) released its earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.20, Bloomberg Earnings reports. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.24 billion. HollyFrontier Corp had a return on equity of 5.00% and a net margin of 2.14%. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS.
HollyFrontier Corp (NYSE:HFC) traded up 0.46% on Friday, reaching $28.56. The company’s stock had a trading volume of 1,937,317 shares. HollyFrontier Corp has a 12 month low of $22.63 and a 12 month high of $34.78. The company has a market cap of $5.01 billion, a P/E ratio of 36.24 and a beta of 1.24. The stock’s 50 day moving average price is $28.11 and its 200 day moving average price is $27.67.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, August 21st. This represents a $1.32 annualized dividend and a yield of 4.62%. HollyFrontier Corp’s dividend payout ratio is presently 167.09%.
Several equities research analysts have recently commented on HFC shares. Barclays PLC reissued an “overweight” rating and issued a $37.00 target price (down from $39.00) on shares of HollyFrontier Corp in a research note on Friday, April 14th. Credit Suisse Group lowered HollyFrontier Corp from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $30.00 to $33.00 in a research report on Thursday, May 4th. Scotiabank set a $29.00 price target on HollyFrontier Corp and gave the stock a “hold” rating in a research report on Thursday, May 4th. US Capital Advisors restated a “hold” rating on shares of HollyFrontier Corp in a research report on Monday, May 22nd. Finally, Piper Jaffray Companies restated a “neutral” rating on shares of HollyFrontier Corp in a research report on Thursday, May 25th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $30.32.
A number of hedge funds have recently modified their holdings of HFC. Candriam Luxembourg S.C.A. increased its stake in shares of HollyFrontier Corp by 12.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 45,687 shares of the oil and gas company’s stock worth $1,295,000 after buying an additional 5,237 shares during the last quarter. Douglas Lane & Associates LLC increased its stake in shares of HollyFrontier Corp by 1.9% in the first quarter. Douglas Lane & Associates LLC now owns 1,555,111 shares of the oil and gas company’s stock worth $44,072,000 after buying an additional 29,124 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of HollyFrontier Corp by 0.9% in the first quarter. Retirement Systems of Alabama now owns 228,974 shares of the oil and gas company’s stock worth $6,489,000 after buying an additional 1,947 shares during the last quarter. Coastline Trust Co increased its stake in shares of HollyFrontier Corp by 36.9% in the first quarter. Coastline Trust Co now owns 14,775 shares of the oil and gas company’s stock worth $419,000 after buying an additional 3,985 shares during the last quarter. Finally, DnB Asset Management AS increased its stake in shares of HollyFrontier Corp by 30.8% in the first quarter. DnB Asset Management AS now owns 17,000 shares of the oil and gas company’s stock worth $482,000 after buying an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 84.94% of the company’s stock.
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HollyFrontier Corp 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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