$4.38 Billion in Sales Expected for HollyFrontier Corp (HFC) This Quarter

Equities analysts predict that HollyFrontier Corp (NYSE:HFC) will report sales of $4.38 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for HollyFrontier’s earnings. The lowest sales estimate is $4.19 billion and the highest is $4.74 billion. HollyFrontier reported sales of $4.47 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2%. The company is expected to announce its next quarterly earnings report on Thursday, August 1st.

On average, analysts expect that HollyFrontier will report full-year sales of $16.21 billion for the current year, with estimates ranging from $13.94 billion to $17.30 billion. For the next financial year, analysts forecast that the firm will post sales of $16.76 billion, with estimates ranging from $13.74 billion to $22.58 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for HollyFrontier.

HollyFrontier (NYSE:HFC) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.36 by $0.18. HollyFrontier had a return on equity of 16.86% and a net margin of 6.19%. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis.

HFC has been the subject of a number of recent research reports. ValuEngine cut HollyFrontier from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Zacks Investment Research cut HollyFrontier from a “hold” rating to a “strong sell” rating in a report on Monday, February 4th. Tudor Pickering cut HollyFrontier from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Morgan Stanley initiated coverage on HollyFrontier in a report on Tuesday, February 12th. They issued an “equal weight” rating and a $65.00 target price for the company. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $66.00 target price on shares of HollyFrontier in a report on Friday, February 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $66.98.

Shares of HFC traded down $1.43 during mid-day trading on Wednesday, reaching $42.70. The company had a trading volume of 2,140,105 shares, compared to its average volume of 2,221,840. HollyFrontier has a twelve month low of $42.19 and a twelve month high of $83.28. The company has a current ratio of 1.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.42. The stock has a market cap of $7.56 billion, a PE ratio of 6.63, a PEG ratio of 0.92 and a beta of 1.13.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Monday, May 20th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.32 dividend on an annualized basis and a yield of 3.09%. HollyFrontier’s dividend payout ratio is 20.50%.

In other HollyFrontier news, Director Franklin Myers purchased 2,900 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average cost of $42.78 per share, with a total value of $124,062.00. Following the acquisition, the director now directly owns 22,489 shares of the company’s stock, valued at approximately $962,079.42. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Jennings sold 9,000 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $55.27, for a total value of $497,430.00. Following the sale, the director now directly owns 18,899 shares of the company’s stock, valued at $1,044,547.73. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Pitcairn Co. increased its holdings in HollyFrontier by 132.5% during the 4th quarter. Pitcairn Co. now owns 17,271 shares of the oil and gas company’s stock valued at $883,000 after purchasing an additional 9,842 shares in the last quarter. CSat Investment Advisory L.P. boosted its position in HollyFrontier by 126.6% in the 4th quarter. CSat Investment Advisory L.P. now owns 528 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 295 shares during the last quarter. First Allied Advisory Services Inc. bought a new position in HollyFrontier in the 4th quarter valued at $237,000. Jackson Hole Capital Partners LLC bought a new position in HollyFrontier in the 4th quarter valued at $294,000. Finally, State of Alaska Department of Revenue boosted its position in HollyFrontier by 6.4% in the 4th quarter. State of Alaska Department of Revenue now owns 29,631 shares of the oil and gas company’s stock valued at $1,514,000 after buying an additional 1,778 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.

See Also: Depreciation

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Earnings History and Estimates for HollyFrontier (NYSE:HFC)

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