HollyFrontier (HFC) Lifted to “Equal Weight” at Morgan Stanley

HollyFrontier (NYSE:HFC) was upgraded by stock analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Friday, April 13th, MarketBeat.com reports. The firm currently has a $60.00 price objective on the oil and gas company’s stock. Morgan Stanley’s target price suggests a potential upside of 2.99% from the company’s previous close.

Several other equities analysts have also issued reports on HFC. Howard Weil lowered HollyFrontier from a “focus list” rating to an “outperform” rating in a research note on Friday, December 22nd. ValuEngine upgraded HollyFrontier from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research downgraded HollyFrontier from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Credit Suisse Group began coverage on HollyFrontier in a report on Wednesday, January 3rd. They set a “neutral” rating and a $51.00 price target on the stock. Finally, Barclays restated a “buy” rating and set a $65.00 price target on shares of HollyFrontier in a report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $46.12.

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Shares of HollyFrontier stock traded up $0.02 during trading hours on Friday, hitting $58.26. The company’s stock had a trading volume of 1,860,273 shares, compared to its average volume of 1,832,776. HollyFrontier has a twelve month low of $23.46 and a twelve month high of $58.87. The firm has a market cap of $10,329.63, a PE ratio of 25.11, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09. The company has a quick ratio of 1.01, a current ratio of 2.15 and a debt-to-equity ratio of 0.42.

HollyFrontier (NYSE:HFC) last announced its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.12). HollyFrontier had a net margin of 5.65% and a return on equity of 7.51%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same period last year, the company earned ($0.06) EPS. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. equities analysts expect that HollyFrontier will post 3.87 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of HFC. New York State Common Retirement Fund lifted its holdings in shares of HollyFrontier by 1.8% in the 3rd quarter. New York State Common Retirement Fund now owns 423,650 shares of the oil and gas company’s stock valued at $15,239,000 after buying an additional 7,500 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of HollyFrontier by 45.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 112,338 shares of the oil and gas company’s stock valued at $4,041,000 after buying an additional 35,186 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of HollyFrontier by 32.2% in the 3rd quarter. Wells Fargo & Company MN now owns 657,219 shares of the oil and gas company’s stock valued at $23,640,000 after buying an additional 160,132 shares during the period. OxFORD Asset Management LLP acquired a new stake in shares of HollyFrontier in the 3rd quarter valued at approximately $1,495,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of HollyFrontier by 17.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 23,800 shares of the oil and gas company’s stock valued at $860,000 after buying an additional 3,500 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for HollyFrontier (NYSE:HFC)

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