HollyFrontier (HFC) Downgraded by Bank of America to Underperform

Bank of America cut shares of HollyFrontier (NYSE:HFC) from a neutral rating to an underperform rating in a research report sent to investors on Friday morning.

Several other analysts also recently commented on HFC. BidaskClub downgraded HollyFrontier from a buy rating to a hold rating in a research note on Friday, August 11th. Scotiabank reaffirmed a buy rating and set a $33.00 price objective on shares of HollyFrontier in a research note on Friday, September 8th. Royal Bank Of Canada reaffirmed a buy rating and set a $38.00 price objective on shares of HollyFrontier in a research note on Friday, September 8th. Howard Weil upped their price objective on HollyFrontier from $33.00 to $39.00 and gave the company a focus list rating in a research note on Thursday, September 28th. Finally, J P Morgan Chase & Co downgraded HollyFrontier from a neutral rating to an underweight rating and upped their price objective for the company from $33.00 to $34.00 in a research note on Friday, October 6th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. HollyFrontier has an average rating of Hold and a consensus price target of $39.73.

HollyFrontier (NYSE:HFC) traded up $0.37 during trading on Friday, hitting $45.69. The stock had a trading volume of 1,917,059 shares, compared to its average volume of 2,507,061. HollyFrontier has a fifty-two week low of $23.46 and a fifty-two week high of $46.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.00 and a quick ratio of 0.98. The stock has a market cap of $8,034.02, a P/E ratio of 29.24, a P/E/G ratio of 1.99 and a beta of 1.31.

HollyFrontier (NYSE:HFC) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.25. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.24 billion. HollyFrontier had a return on equity of 5.18% and a net margin of 2.55%. The firm’s revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. sell-side analysts forecast that HollyFrontier will post 2.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.89%. The ex-dividend date is Monday, November 20th. HollyFrontier’s payout ratio is 69.47%.

In other HollyFrontier news, Director Michael Jennings sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $44.50, for a total transaction of $200,250.00. Following the transaction, the director now owns 49,717 shares in the company, valued at approximately $2,212,406.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.51% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wedbush Securities Inc. increased its position in HollyFrontier by 0.7% during the 2nd quarter. Wedbush Securities Inc. now owns 10,875 shares of the oil and gas company’s stock worth $299,000 after purchasing an additional 71 shares during the period. Sheaff Brock Investment Advisors LLC grew its holdings in shares of HollyFrontier by 1.3% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 7,707 shares of the oil and gas company’s stock worth $212,000 after acquiring an additional 100 shares during the period. World Asset Management Inc grew its holdings in shares of HollyFrontier by 1.1% in the 2nd quarter. World Asset Management Inc now owns 15,813 shares of the oil and gas company’s stock worth $434,000 after acquiring an additional 173 shares during the period. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of HollyFrontier in the 2nd quarter worth approximately $204,000. Finally, Toronto Dominion Bank grew its holdings in shares of HollyFrontier by 6.3% in the 2nd quarter. Toronto Dominion Bank now owns 3,994 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 235 shares during the period. Institutional investors own 83.31% of the company’s stock.

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About HollyFrontier

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).

Analyst Recommendations for HollyFrontier (NYSE:HFC)

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