Analysts expect HollyFrontier Co. (NYSE:HFC) to announce $2.81 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for HollyFrontier's earnings, with the highest sales estimate coming in at $3.25 billion and the lowest estimate coming in at $2.38 billion. HollyFrontier posted sales of $3.40 billion during the same quarter last year, which suggests a negative year over year growth rate of 17.4%. The business is expected to issue its next quarterly earnings report before the market opens on Wednesday, May 5th.
On average, analysts expect that HollyFrontier will report full-year sales of $12.02 billion for the current financial year, with estimates ranging from $11.03 billion to $13.00 billion. For the next year, analysts anticipate that the business will report sales of $14.06 billion, with estimates ranging from $13.12 billion to $15.00 billion. Zacks' sales calculations are an average based on a survey of sell-side analysts that follow HollyFrontier.
HollyFrontier (NYSE:HFC) last announced its quarterly earnings data 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). The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.66 billion. HollyFrontier had a positive return on equity of 0.93% and a negative net margin of 3.34%.
HFC has been the subject of several research analyst reports. Barclays boosted their price objective on HollyFrontier from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Monday, March 8th. Morgan Stanley increased their price objective on HollyFrontier from $34.00 to $47.00 and gave the company an "equal weight" rating in a report on Wednesday, March 17th. Piper Sandler increased their price objective on HollyFrontier from $35.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, April 1st. Wells Fargo & Company increased their price target on HollyFrontier from $22.00 to $31.00 and gave the company an "underweight" rating in a research note on Thursday, February 25th. Finally, US Capital Advisors cut HollyFrontier from an "overweight" rating to a "hold" rating in a research note on Wednesday, March 17th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of "Hold" and a consensus target price of $35.71.
Shares of HFC stock opened at $36.85 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.68 and a quick ratio of 1.76. The stock has a market cap of $5.98 billion, a PE ratio of -14.12 and a beta of 1.83. The stock has a 50-day moving average of $37.73 and a 200-day moving average of $27.71. HollyFrontier has a one year low of $16.81 and a one year high of $42.39.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Monday, March 1st were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Friday, February 26th. HollyFrontier's payout ratio is currently 28.57%.
In related news, Director Franklin Myers bought 3,310 shares of the company's stock in a transaction that occurred on Monday, March 1st. The stock was bought 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 approximately $1,410,189.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.44% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the business. Inspire Advisors LLC bought a new stake in HollyFrontier during the fourth quarter valued at about $26,000. International Assets Investment Management LLC purchased a new position in shares of HollyFrontier during the fourth quarter valued at approximately $28,000. Signaturefd LLC boosted its position in shares of HollyFrontier by 115.9% during the fourth quarter. Signaturefd LLC now owns 1,347 shares of the oil and gas company's stock valued at $35,000 after buying an additional 723 shares during the period. Federated Hermes Inc. boosted its holdings in shares of HollyFrontier by 47.5% in the third quarter. Federated Hermes Inc. now owns 1,845 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 594 shares during the period. Finally, Crescent Capital Consulting LLC purchased a new stake in shares of HollyFrontier in the fourth quarter valued at approximately $78,000. 84.41% of the stock is owned by institutional investors and hedge funds.
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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