Piper Jaffray Cos. Cuts HollyFrontier Corp. (HFC) Price Target to $26.00

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HollyFrontier Corp. (NYSE:HFC) had its price objective lowered by research analysts at Piper Jaffray Cos. from $27.00 to $26.00 in a research report issued on Friday. The brokerage currently has a “neutral” rating on the stock. Piper Jaffray Cos.’s price objective indicates a potential upside of 2.85% from the company’s previous close.
A number of other research analysts have also commented on the company. Morgan Stanley reaffirmed a “sell” rating and set a $26.00 price target on shares of HollyFrontier Corp. in a research report on Thursday, September 1st. TheStreet lowered HollyFrontier Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Wolfe Research lowered HollyFrontier Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, June 20th. Deutsche Bank AG lowered HollyFrontier Corp. from a “buy” rating to a “hold” rating and lowered their price target for the company from $53.00 to $30.00 in a research report on Tuesday, July 12th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $32.00 price target on shares of HollyFrontier Corp. in a research report on Friday, August 26th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $36.09.
HollyFrontier Corp. (NYSE:HFC) traded down 0.5965% on Friday, hitting $25.1292. The stock had a trading volume of 939,335 shares. HollyFrontier Corp. has a 1-year low of $22.07 and a 1-year high of $52.30. The company’s market cap is $4.42 billion. The stock has a 50 day moving average price of $25.98 and a 200 day moving average price of $29.00.

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HollyFrontier Corp. (NYSE:HFC) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.35 billion. HollyFrontier Corp. had a negative net margin of 2.09% and a positive return on equity of 8.00%. The company’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 EPS. On average, equities research analysts expect that HollyFrontier Corp. will post $0.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Tuesday, August 23rd will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, August 19th. This represents a $1.32 annualized dividend and a dividend yield of 5.22%. HollyFrontier Corp.’s payout ratio is -93.62%.
Several institutional investors have recently added to or reduced their stakes in HFC. Norges Bank purchased a new position in HollyFrontier Corp. during the fourth quarter valued at $72,127,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in HollyFrontier Corp. by 8.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 55,578 shares of the company’s stock valued at $1,963,000 after buying an additional 4,109 shares during the last quarter. Coastline Trust Co boosted its position in HollyFrontier Corp. by 90.8% in the first quarter. Coastline Trust Co now owns 15,625 shares of the company’s stock valued at $552,000 after buying an additional 7,435 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in HollyFrontier Corp. by 49.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,880 shares of the company’s stock valued at $1,030,000 after buying an additional 9,868 shares during the last quarter. Finally, PGGM Investments boosted its position in HollyFrontier Corp. by 2.5% in the first quarter. PGGM Investments now owns 129,460 shares of the company’s stock valued at $4,573,000 after buying an additional 3,138 shares during the last quarter. 83.90% of the stock is currently owned by hedge funds and other institutional investors.
About HollyFrontier Corp.
HollyFrontier Corporation (HollyFrontier) is an independent petroleum refiner. The Company produces various refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. The Company operates through two segments: Refining and Holly Energy Partners, L.P.

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