HollyFrontier (HFC) Price Target Raised to $85.00 at Argus

HollyFrontier (NYSE:HFC) had its price objective hoisted by Argus to $85.00 in a report issued on Thursday, MarketBeat Ratings reports. They currently have a buy rating on the oil and gas company’s stock.

HFC has been the topic of several other research reports. ValuEngine upgraded shares of HollyFrontier from a hold rating to a buy rating in a report on Friday, February 2nd. Deutsche Bank dropped their target price on shares of HollyFrontier from $59.00 to $56.00 and set a buy rating on the stock in a report on Monday, March 19th. Zacks Investment Research cut shares of HollyFrontier from a buy rating to a hold rating in a report on Friday, May 11th. Cowen boosted their target price on shares of HollyFrontier from $38.00 to $40.00 and gave the company a market perform rating in a report on Wednesday, February 21st. Finally, Barclays boosted their target price on shares of HollyFrontier from $61.00 to $80.00 and gave the company an overweight rating in a report on Thursday, May 3rd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. HollyFrontier presently has an average rating of Hold and an average target price of $54.35.

NYSE:HFC opened at $75.55 on Thursday. The firm has a market capitalization of $13.01 billion, a P/E ratio of 32.56, a P/E/G ratio of 1.69 and a beta of 1.07. HollyFrontier has a twelve month low of $23.46 and a twelve month high of $76.31. The company has a current ratio of 2.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.39.



HollyFrontier (NYSE:HFC) last released its quarterly earnings results on Wednesday, May 2nd. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.40. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $3.30 billion. HollyFrontier had a net margin of 7.31% and a return on equity of 10.21%. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) earnings per share. analysts predict that HollyFrontier will post 4.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Wednesday, May 23rd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, May 22nd. HollyFrontier’s payout ratio is 56.90%.

In related news, Director Leldon E. Echols sold 13,000 shares of the company’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $73.35, for a total value of $953,550.00. Following the transaction, the director now owns 36,725 shares in the company, valued at approximately $2,693,778.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John W. Gann, Jr. sold 8,500 shares of the company’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $66.39, for a total transaction of $564,315.00. Following the completion of the transaction, the vice president now owns 25,205 shares in the company, valued at approximately $1,673,359.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,821 shares of company stock worth $11,052,187. 0.51% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. M&T Bank Corp raised its position in HollyFrontier by 2.3% in the 1st quarter. M&T Bank Corp now owns 37,098 shares of the oil and gas company’s stock worth $1,813,000 after buying an additional 834 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in HollyFrontier by 1.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 70,953 shares of the oil and gas company’s stock worth $3,467,000 after buying an additional 900 shares during the last quarter. State Treasurer State of Michigan raised its position in HollyFrontier by 1.6% in the 1st quarter. State Treasurer State of Michigan now owns 64,690 shares of the oil and gas company’s stock worth $3,161,000 after buying an additional 1,000 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in HollyFrontier by 3.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 36,474 shares of the oil and gas company’s stock worth $1,868,000 after buying an additional 1,129 shares during the last quarter. Finally, Affinity Investment Advisors LLC raised its position in HollyFrontier by 2.3% in the 1st quarter. Affinity Investment Advisors LLC now owns 49,674 shares of the oil and gas company’s stock worth $2,427,000 after buying an additional 1,134 shares during the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

HollyFrontier Company Profile

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.

Analyst Recommendations for HollyFrontier (NYSE:HFC)

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