Wall Street analysts forecast that HollyFrontier Corp (NYSE:HFC) will post sales of $5.56 billion for the current quarter, Zacks reports. Three analysts have made estimates for HollyFrontier’s earnings, with the lowest sales estimate coming in at $4.50 billion and the highest estimate coming in at $7.26 billion. HollyFrontier reported sales of $3.99 billion in the same quarter last year, which would suggest a positive year over year growth rate of 39.3%. The firm is expected to issue its next earnings report on Wednesday, February 20th.
On average, analysts expect that HollyFrontier will report full-year sales of $18.48 billion for the current year, with estimates ranging from $16.70 billion to $21.07 billion. For the next financial year, analysts forecast that the firm will report sales of $18.62 billion, with estimates ranging from $12.78 billion to $22.40 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow HollyFrontier.
HollyFrontier (NYSE:HFC) last issued its earnings results on Wednesday, October 31st. The oil and gas company reported $1.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.32. HollyFrontier had a return on equity of 13.94% and a net margin of 8.51%. The firm had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis.
HFC has been the topic of several analyst reports. US Capital Advisors lowered HollyFrontier from an “overweight” rating to a “hold” rating in a research report on Friday, September 7th. Jefferies Financial Group raised HollyFrontier from an “underperform” rating to a “hold” rating and set a $62.00 target price on the stock in a research report on Tuesday, October 16th. ValuEngine lowered HollyFrontier from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. JPMorgan Chase & Co. increased their target price on HollyFrontier from $77.00 to $79.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 14th. Finally, Cowen set a $76.00 target price on HollyFrontier and gave the stock a “hold” rating in a research report on Monday, December 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. HollyFrontier has an average rating of “Hold” and an average price target of $74.62.
NYSE HFC traded down $0.95 during trading hours on Wednesday, hitting $56.85. The company had a trading volume of 2,364,282 shares, compared to its average volume of 2,004,273. HollyFrontier has a fifty-two week low of $42.42 and a fifty-two week high of $83.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.50 and a quick ratio of 1.30. The firm has a market capitalization of $10.02 billion, a PE ratio of 24.50, a P/E/G ratio of 0.94 and a beta of 1.04.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 21st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Tuesday, November 20th. HollyFrontier’s dividend payout ratio (DPR) is 56.90%.
In other news, Director Robert J. Kostelnik sold 1,500 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $61.62, for a total transaction of $92,430.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.51% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. BB&T Corp increased its holdings in shares of HollyFrontier by 2.6% during the third quarter. BB&T Corp now owns 30,388 shares of the oil and gas company’s stock valued at $2,124,000 after purchasing an additional 776 shares during the period. Daiwa Securities Group Inc. grew its holdings in HollyFrontier by 15.1% during the third quarter. Daiwa Securities Group Inc. now owns 6,431 shares of the oil and gas company’s stock worth $450,000 after acquiring an additional 843 shares during the period. Norinchukin Bank The grew its holdings in HollyFrontier by 4.2% during the third quarter. Norinchukin Bank The now owns 20,846 shares of the oil and gas company’s stock worth $1,457,000 after acquiring an additional 844 shares during the period. Advisory Services Network LLC grew its holdings in HollyFrontier by 30.6% during the third quarter. Advisory Services Network LLC now owns 4,503 shares of the oil and gas company’s stock worth $315,000 after acquiring an additional 1,056 shares during the period. Finally, Rhumbline Advisers grew its holdings in HollyFrontier by 0.4% during the third quarter. Rhumbline Advisers now owns 274,081 shares of the oil and gas company’s stock worth $19,158,000 after acquiring an additional 1,097 shares during the period. 85.66% of the stock is currently owned by institutional investors.
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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