HollyFrontier Corp (HFC) is Downgraded by Scotia Howard Weil to Sector Perform, Lowers Price Target to $ 24

HollyFrontier Corp (HFC) was Downgraded by Scotia Howard Weil to ” Sector Perform” while Lowering the Price Target of the company shares to $ 24 from a previous price target of $29 . Earlier the firm had a rating of “Sector Outperform ” on the company shares. Scotia Howard Weil advised their investors in a research report released on Oct 19, 2016.

On the company’s financial health, HollyFrontier Corp reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.33. The company had revenue of $2714.60 million for the quarter, compared to analysts expectations of $2701.96 million. The company’s revenue was down -26.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.88 EPS.

HollyFrontier Corp closed down -0.08 points or -0.34% at $23.57 with 34,89,007 shares getting traded on Friday. Post opening the session at $23.81, the shares hit an intraday low of $23.22 and an intraday high of $23.94 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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 Company’s refinery operations serve the Mid-Continent Southwest and Rocky Mountain regions of the United States. The HEP segment includes of the operations of the Company’s 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.

HollyFrontier Corp

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