Equities Analysts Lower Earnings Estimates for HollyFrontier Corp (NYSE:HFC)

Equities Analysts Lower Earnings Estimates for HollyFrontier Corp (NYSE:HFC)

HollyFrontier Corp (NYSE:HFC) – Equities research analysts at US Capital Advisors dropped their Q3 2019 earnings per share estimates for HollyFrontier in a research report issued on Friday, August 23rd, Zacks Investment Research reports. US Capital Advisors analyst C. Weiland now anticipates that the oil and gas company will earn $1.33 per share for the quarter, down from their prior forecast of $1.55. US Capital Advisors also issued estimates for HollyFrontier’s FY2019 earnings at $4.62 EPS and Q1 2020 earnings at $0.88 EPS.

Other research analysts have also recently issued research reports about the company. Morgan Stanley set a $54.00 price target on HollyFrontier and gave the stock a “hold” rating in a research note on Friday, May 17th. ValuEngine lowered HollyFrontier from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.41.

NYSE:HFC traded up $1.79 on Monday, reaching $50.43. The stock had a trading volume of 2,393,800 shares, compared to its average volume of 2,145,497. HollyFrontier has a 12-month low of $37.73 and a 12-month high of $72.78. The stock has a market cap of $8.01 billion, a P/E ratio of 7.83, a price-to-earnings-growth ratio of 0.97 and a beta of 1.46. The company has a current ratio of 2.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $47.22 and a 200 day moving average of $46.90.

HollyFrontier (NYSE:HFC) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $2.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.51. HollyFrontier had a net margin of 5.25% and a return on equity of 18.51%. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period last year, the business earned $1.45 EPS. The business’s revenue was up 7.0% on a year-over-year basis.

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in shares of HollyFrontier by 17.5% during the first quarter. AQR Capital Management LLC now owns 11,776,317 shares of the oil and gas company’s stock valued at $580,219,000 after acquiring an additional 1,753,888 shares during the period. Nuveen Asset Management LLC boosted its stake in HollyFrontier by 244.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,165,064 shares of the oil and gas company’s stock valued at $53,919,000 after purchasing an additional 827,015 shares during the period. Prudential Financial Inc. grew its position in HollyFrontier by 94.6% in the 2nd quarter. Prudential Financial Inc. now owns 1,154,726 shares of the oil and gas company’s stock worth $53,441,000 after purchasing an additional 561,478 shares during the last quarter. Marshall Wace LLP bought a new position in HollyFrontier in the 2nd quarter worth about $18,534,000. Finally, State of New Jersey Common Pension Fund D grew its position in HollyFrontier by 388.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 440,000 shares of the oil and gas company’s stock worth $20,363,000 after purchasing an additional 350,000 shares during the last quarter. 84.39% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Franklin Myers purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $49.72 per share, with a total value of $124,300.00. Following the acquisition, the director now owns 24,989 shares in the company, valued at approximately $1,242,453.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.49% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Wednesday, August 21st. HollyFrontier’s payout ratio is 20.50%.

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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