HollyFrontier (NYSE:HFC) Earns “Buy” Rating from Royal Bank of Canada

Royal Bank of Canada restated their buy rating on shares of HollyFrontier (NYSE:HFC) in a report issued on Monday, AnalystRatings.com reports. Royal Bank of Canada currently has a $59.00 price target on the oil and gas company’s stock.

Several other research analysts have also weighed in on HFC. Barclays assumed coverage on shares of HollyFrontier in a report on Tuesday, January 14th. They set an equal weight rating and a $50.00 price objective on the stock. Wells Fargo & Co increased their price objective on shares of HollyFrontier from $48.00 to $51.00 and gave the stock a market perform rating in a report on Wednesday, September 25th. Zacks Investment Research upgraded shares of HollyFrontier from a hold rating to a buy rating and set a $60.00 price objective on the stock in a report on Wednesday, November 6th. Finally, ValuEngine lowered shares of HollyFrontier from a buy rating to a hold rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $52.77.

HollyFrontier stock opened at $46.50 on Monday. HollyFrontier has a 12-month low of $37.73 and a 12-month high of $58.88. The stock has a market capitalization of $7.56 billion, a P/E ratio of 9.28, a P/E/G ratio of 0.96 and a beta of 1.41. The firm’s 50-day moving average is $49.60 and its two-hundred day moving average is $50.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 1.11.

HollyFrontier (NYSE:HFC) last released its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.25. HollyFrontier had a net margin of 4.89% and a return on equity of 17.42%. The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period last year, the company earned $1.98 EPS. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. As a group, analysts forecast that HollyFrontier will post 4.92 EPS for the current year.

In related news, CAO John W. Gann, Jr. sold 7,052 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $52.58, for a total value of $370,794.16. Following the transaction, the chief accounting officer now owns 26,136 shares in the company, valued at $1,374,230.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Thomas G. Creery sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $57.50, for a total transaction of $287,500.00. Following the completion of the transaction, the senior vice president now owns 90,004 shares in the company, valued at approximately $5,175,230. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,909 shares of company stock worth $2,844,988. Insiders own 0.49% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of HFC. Nuveen Asset Management LLC raised its holdings in HollyFrontier by 244.6% in the second 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 buying an additional 827,015 shares during the period. Luminus Management LLC raised its holdings in HollyFrontier by 130.6% in the second quarter. Luminus Management LLC now owns 538,587 shares of the oil and gas company’s stock valued at $24,926,000 after buying an additional 305,000 shares during the period. Exchange Traded Concepts LLC purchased a new position in HollyFrontier in the fourth quarter valued at approximately $11,629,000. Worldquant Millennium Advisors LLC raised its holdings in HollyFrontier by 57.5% in the second quarter. Worldquant Millennium Advisors LLC now owns 583,950 shares of the oil and gas company’s stock valued at $27,025,000 after buying an additional 213,119 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in HollyFrontier by 307.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 188,224 shares of the oil and gas company’s stock valued at $9,545,000 after buying an additional 142,019 shares during the period. Hedge funds and other institutional investors own 84.80% of the company’s stock.

About HollyFrontier

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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