HollyFrontier Corp (NYSE:HFC) – Piper Jaffray Companies lowered their Q1 2020 earnings estimates for HollyFrontier in a note issued to investors on Wednesday, May 15th. Piper Jaffray Companies analyst B. Fernandez now forecasts that the oil and gas company will earn $0.72 per share for the quarter, down from their prior estimate of $0.80. Piper Jaffray Companies also issued estimates for HollyFrontier’s Q2 2020 earnings at $1.59 EPS and Q3 2020 earnings at $1.77 EPS.
HollyFrontier (NYSE:HFC) last released its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.18. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.69 billion. HollyFrontier had a net margin of 6.19% and a return on equity of 16.86%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 earnings per share.
Other equities analysts have also issued reports about the stock. Credit Suisse Group decreased their price objective on shares of HollyFrontier from $63.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, April 3rd. ValuEngine lowered shares of HollyFrontier from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Bank of America raised shares of HollyFrontier from an “underperform” rating to a “neutral” rating and set a $48.70 price objective for the company in a research report on Monday, April 29th. Goldman Sachs Group lowered shares of HollyFrontier from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $53.00 to $45.00 in a research report on Tuesday, April 16th. Finally, Zacks Investment Research raised shares of HollyFrontier from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. HollyFrontier presently has a consensus rating of “Hold” and a consensus target price of $67.82.
HFC stock opened at $43.63 on Thursday. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 6.77, a PEG ratio of 0.89 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.42. HollyFrontier has a one year low of $42.19 and a one year high of $83.28.
Large investors have recently modified their holdings of the stock. CSat Investment Advisory L.P. increased its holdings in HollyFrontier by 126.6% in the 4th quarter. CSat Investment Advisory L.P. now owns 528 shares of the oil and gas company’s stock worth $27,000 after buying an additional 295 shares during the period. We Are One Seven LLC acquired a new stake in shares of HollyFrontier during the 4th quarter worth approximately $37,000. Quantamental Technologies LLC acquired a new stake in shares of HollyFrontier during the 1st quarter worth approximately $40,000. Clarus Wealth Advisors acquired a new stake in shares of HollyFrontier during the 1st quarter worth approximately $43,000. Finally, Pinnacle Financial Partners Inc. acquired a new stake in shares of HollyFrontier during the 1st quarter worth approximately $49,000. Institutional investors own 86.39% of the company’s stock.
In other HollyFrontier news, Director Franklin Myers purchased 2,900 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $42.78 per share, for a total transaction of $124,062.00. Following the acquisition, the director now owns 22,489 shares in the company, valued at $962,079.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Jennings sold 9,000 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $55.27, for a total transaction of $497,430.00. Following the completion of the transaction, the director now owns 18,899 shares in the company, valued at approximately $1,044,547.73. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Monday, May 20th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, May 17th. HollyFrontier’s payout ratio is currently 20.50%.
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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