HollyFrontier (NYSE:HFC) Shares Down 4%

HollyFrontier Co. (NYSE:HFC) dropped 4% on Thursday . The company traded as low as $35.35 and last traded at $35.37. Approximately 1,950 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 2,334,778 shares. The stock had previously closed at $36.85.

Several equities analysts recently issued reports on HFC shares. Zacks Investment Research upgraded HollyFrontier from a “sell” rating to a “hold” rating and set a $41.00 price objective on the stock in a research note on Friday, March 5th. Mizuho upped their target price on HollyFrontier from $25.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, February 26th. Morgan Stanley increased their price target on HollyFrontier from $34.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 17th. Wells Fargo & Company boosted their price objective on HollyFrontier from $22.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, February 25th. Finally, Barclays increased their target price on HollyFrontier from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, March 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $35.71.

The company has a current ratio of 2.68, a quick ratio of 1.76 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $37.73 and a 200-day moving average price of $27.71. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of -14.12 and a beta of 1.83.

HollyFrontier (NYSE:HFC) last announced its earnings results on Tuesday, February 23rd. The oil and gas company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by ($0.03). HollyFrontier had a negative net margin of 3.34% and a positive return on equity of 0.93%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.66 billion. Equities research analysts predict that HollyFrontier Co. will post -0.76 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Monday, March 1st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, February 26th. This represents a $1.40 annualized dividend and a dividend yield of 3.89%. HollyFrontier’s dividend payout ratio (DPR) is 28.57%.

In other HollyFrontier news, Director Franklin Myers bought 3,310 shares of the company’s stock in a transaction that occurred on Monday, March 1st. The shares were acquired at an average cost of $37.57 per share, for a total transaction of $124,356.70. Following the acquisition, the director now directly owns 37,535 shares of the company’s stock, valued at $1,410,189.95. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.44% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale lifted its holdings in shares of HollyFrontier by 1.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 43,196 shares of the oil and gas company’s stock valued at $1,094,000 after purchasing an additional 496 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in HollyFrontier by 1,104.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 95,884 shares of the oil and gas company’s stock worth $2,479,000 after buying an additional 87,920 shares during the period. Norges Bank purchased a new stake in HollyFrontier during the fourth quarter valued at about $46,952,000. UBS Asset Management Americas Inc. boosted its holdings in shares of HollyFrontier by 35.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 375,595 shares of the oil and gas company’s stock worth $9,709,000 after buying an additional 97,492 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of HollyFrontier by 13.4% in the fourth quarter. Hsbc Holdings PLC now owns 105,077 shares of the oil and gas company’s stock worth $2,728,000 after acquiring an additional 12,427 shares in the last quarter. Institutional investors and hedge funds own 84.41% of the company’s stock.

HollyFrontier Company Profile (NYSE:HFC)

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.

Further Reading: Analyzing a company’s cash flow statement

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