HollyFrontier Corp (HFC) was Downgraded by Morgan Stanley to ” Underweight” while Lowering the Price Target of the company shares to $ 26 from a previous price target of $41 . Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jun 17, 2016.
Many Wall Street Analysts have commented on HollyFrontier Corp. HollyFrontier Corp was Upgraded by Scotia Howard Weil to ” Sector Outperform” on May 18, 2016. HollyFrontier Corp was Downgraded by Tudor Pickering to ” Sell” on May 16, 2016. Shares were Reiterated by Barclays on May 5, 2016 to “Overweight” and Lowered the Price Target to $ 39 from a previous price target of $41 .
On the company’s financial health, HollyFrontier Corp reported $0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.08. The company had revenue of $2018.70 million for the quarter, compared to analysts expectations of $2031.27 million. The company’s revenue was down -32.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.16 EPS.
HollyFrontier Corp opened for trading at $24.27 and hit $25.98 on the upside on Wednesday, eventually ending the session at $25.09, with a gain of 1.70% or 0.42 points. The heightened volatility saw the trading volume jump to 45,04,230 shares. Company has a market cap of $4,429 M.
In a different news, on Dec 17, 2015, Michael Jennings (CEO and President) sold 100,000 shares at $41.19 per share price. According to the SEC, on Nov 12, 2015, Doug S Aron (EVP & CFO) sold 30,000 shares at $50.42 per share price. On Aug 14, 2015, James H Lee (director) sold 10,000 shares at $52.83 per share price, according to the Form-4 filing with the securities and exchange commission.
HollyFrontier Corporation is an independent petroleum refiner in the United States. The Company produces refined products such as gasoline diesel fuel jet fuel lubricant products and specialty and modified asphalt. The Company operates through two segments namely Refining and HEP. The Refining segment includes the operations of its El Dorado Tulsa Navajo Cheyenne and Woods Cross Refineries and NK Asphalt Partners (NK Asphalt). The Companys refinery operations serve the Mid-Continent Southwest and Rocky Mountain regions of the United States. The HEP segment includes of the operations of the Companys subsidiary Holly Energy Partners L.P. (HEP). HEP is a limited partnership that acquires owns and operates of the refined product pipeline and terminalling assets that support the refining and marketing operations in the Mid-Continent Southwest and Rocky Mountain regions of the United States.