Morgan Stanley Cuts HollyFrontier (NYSE:HFC) Price Target to $44.00

HollyFrontier (NYSE:HFC) had its target price lowered by Morgan Stanley from $48.00 to $44.00 in a report released on Wednesday morning, The Fly reports. Morgan Stanley currently has an overweight rating on the oil and gas company’s stock.

Several other analysts have also issued reports on HFC. Cowen increased their target price on HollyFrontier from $32.00 to $34.00 and gave the stock a market perform rating in a report on Tuesday, December 28th. Wells Fargo & Company increased their target price on HollyFrontier from $31.00 to $35.00 and gave the stock an equal weight rating in a report on Wednesday, October 6th. Credit Suisse Group increased their target price on HollyFrontier from $42.00 to $44.00 and gave the stock an outperform rating in a report on Monday, November 8th. Finally, Barclays increased their target price on HollyFrontier from $33.00 to $37.00 and gave the stock an equal weight rating in a report on Tuesday, January 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, HollyFrontier has a consensus rating of Hold and an average price target of $38.50.

HFC stock opened at $37.67 on Wednesday. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 12.95 and a beta of 1.66. HollyFrontier has a fifty-two week low of $27.17 and a fifty-two week high of $42.39. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.13 and a quick ratio of 1.21. The business’s fifty day moving average price is $33.10 and its two-hundred day moving average price is $32.38.

HollyFrontier (NYSE:HFC) last released its earnings results on Wednesday, November 3rd. The oil and gas company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.51. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $3.95 billion. HollyFrontier had a return on equity of 2.49% and a net margin of 3.06%. HollyFrontier’s quarterly revenue was up 66.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.41) EPS. Research analysts expect that HollyFrontier will post 2.27 EPS for the current year.

In other HollyFrontier news, Director Franklin Myers acquired 20,000 shares of HollyFrontier stock in a transaction that occurred on Friday, November 12th. The shares were acquired at an average cost of $34.56 per share, with a total value of $691,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in HollyFrontier by 3.8% in the second quarter. BlackRock Inc. now owns 12,955,006 shares of the oil and gas company’s stock valued at $426,221,000 after purchasing an additional 472,141 shares during the last quarter. Boston Partners raised its position in HollyFrontier by 4.7% in the third quarter. Boston Partners now owns 11,923,024 shares of the oil and gas company’s stock valued at $395,328,000 after purchasing an additional 540,076 shares during the last quarter. Dimensional Fund Advisors LP raised its position in HollyFrontier by 11.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,741,360 shares of the oil and gas company’s stock valued at $221,787,000 after purchasing an additional 698,069 shares during the last quarter. LSV Asset Management raised its position in HollyFrontier by 60.3% in the third quarter. LSV Asset Management now owns 4,088,743 shares of the oil and gas company’s stock valued at $135,460,000 after purchasing an additional 1,537,538 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in HollyFrontier by 22.2% in the third quarter. Two Sigma Advisers LP now owns 2,204,300 shares of the oil and gas company’s stock valued at $73,028,000 after purchasing an additional 400,900 shares during the last quarter. Hedge funds and other institutional investors own 86.01% of the company’s stock.

About HollyFrontier

HollyFrontier Corp. is an independent petroleum refiner and marketer. It specializes in gasoline, diesel fuel, jet fuel, and modified asphalt. The firm operates through the following segments: Refining; Lubricants and Specialty Products; and Holly Energy Partners, LP (HEP). The Refining segment includes the operations in El Dorado, Tulsa, Navajo, Cheyenne, and Woods Cross Refineries.

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