HollyFrontier Corporation (NYSE:HFC) declared a quarterly dividend on Wednesday, August 2nd, Zacks reports. Investors of record on Wednesday, August 23rd will be paid a dividend of 0.33 per share by the oil and gas company on Wednesday, September 20th. This represents a $1.32 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Monday, August 21st.
HollyFrontier Corporation has increased its dividend payment by an average of 3.2% annually over the last three years and has raised its dividend every year for the last 5 years. HollyFrontier Corporation has a payout ratio of 106.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect HollyFrontier Corporation to earn $2.22 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 59.5%.
HollyFrontier Corporation (HFC) opened at 28.96 on Wednesday. HollyFrontier Corporation has a one year low of $22.63 and a one year high of $34.78. The firm has a market capitalization of $5.08 billion, a P/E ratio of 36.75 and a beta of 1.24. The company has a 50-day moving average price of $28.21 and a 200-day moving average price of $27.62.
HollyFrontier Corporation (NYSE:HFC) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the previous year, the business earned $0.28 EPS. HollyFrontier Corporation’s revenue for the quarter was up 27.4% compared to the same quarter last year. On average, equities research analysts anticipate that HollyFrontier Corporation will post $1.23 EPS for the current year.
Several equities research analysts have issued reports on the company. BidaskClub downgraded HollyFrontier Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Barclays PLC restated an “overweight” rating and set a $39.00 price objective (up from $37.00) on shares of HollyFrontier Corporation in a report on Wednesday, August 9th. Royal Bank Of Canada restated an “outperform” rating and set a $38.00 price objective (up from $36.00) on shares of HollyFrontier Corporation in a report on Wednesday, August 9th. Scotiabank upgraded HollyFrontier Corporation from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded HollyFrontier Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. HollyFrontier Corporation has a consensus rating of “Hold” and an average price target of $30.32.
About HollyFrontier Corporation
HollyFrontier Corporation is an independent petroleum refiner. The Company produces various light products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. It segments include Refining and Holly Energy Partners, L.P. (HEP). The Refining segment includes the operations of the Company’s El Dorado, Kansas (the El Dorado Refinery); refinery facilities located in Tulsa, Oklahoma (collectively, the Tulsa Refineries); a refinery in Artesia, New Mexico that is operated in conjunction with crude oil distillation and vacuum distillation and other facilities situated 65 miles away in Lovington, New Mexico (collectively, the Navajo Refinery); refinery located in Cheyenne, Wyoming (the Cheyenne Refinery); a refinery in Woods Cross, Utah (the Woods Cross Refinery), and HollyFrontier Asphalt Company (HFC Asphalt).
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