HollyFrontier (NYSE:HFC) PT Lowered to $29.00 at Morgan Stanley

HollyFrontier (NYSE:HFC) had its target price lowered by Morgan Stanley from $32.00 to $29.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has an underweight rating on the oil and gas company’s stock.

A number of other research analysts have also recently commented on HFC. Mizuho cut HollyFrontier from a buy rating to a neutral rating and set a $34.00 price objective on the stock. in a research note on Wednesday, July 22nd. Goldman Sachs Group raised HollyFrontier from a sell rating to a neutral rating and set a $26.00 price target on the stock in a research report on Friday, August 7th. ValuEngine raised shares of HollyFrontier from a sell rating to a hold rating in a research report on Monday, June 1st. Credit Suisse Group reiterated a hold rating and set a $35.00 price objective on shares of HollyFrontier in a research note on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of HollyFrontier from $32.00 to $35.00 and gave the company a neutral rating in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $34.86.

HFC traded up $0.23 during trading on Tuesday, hitting $25.75. 102,655 shares of the company’s stock were exchanged, compared to its average volume of 2,602,781. HollyFrontier has a 1 year low of $18.48 and a 1 year high of $58.88. The stock has a 50 day moving average price of $27.25 and a 200 day moving average price of $30.73. The firm has a market cap of $4.37 billion, a P/E ratio of -25.04 and a beta of 1.66. The company has a current ratio of 2.10, a quick ratio of 1.22 and a debt-to-equity ratio of 0.47.

HollyFrontier (NYSE:HFC) last posted its earnings results on Thursday, August 6th. The oil and gas company reported ($0.25) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.31. HollyFrontier had a negative net margin of 1.11% and a positive return on equity of 6.41%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the business posted $2.18 EPS. The business’s quarterly revenue was down 56.9% on a year-over-year basis. Analysts forecast that HollyFrontier will post -0.54 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Monday, August 17th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, August 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.44%. HollyFrontier’s dividend payout ratio is currently 28.57%.

A number of institutional investors have recently bought and sold shares of HFC. Clark Capital Management Group Inc. raised its stake in HollyFrontier by 31.2% during the 2nd quarter. Clark Capital Management Group Inc. now owns 75,422 shares of the oil and gas company’s stock valued at $2,202,000 after purchasing an additional 17,915 shares during the period. Balyasny Asset Management LLC purchased a new stake in HollyFrontier in the 2nd quarter worth approximately $10,195,000. Quantamental Technologies LLC acquired a new stake in shares of HollyFrontier during the 2nd quarter valued at about $259,000. Towle & Co. grew its position in HollyFrontier by 1.8% in the second quarter. Towle & Co. now owns 441,330 shares of the oil and gas company’s stock worth $12,887,000 after acquiring an additional 7,820 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of HollyFrontier during the 2nd quarter worth $248,000. 82.54% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for HollyFrontier (NYSE:HFC)

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