HollyFrontier Corp (HFC) Declares $0.33 Quarterly Dividend

HollyFrontier Corp (NYSE:HFC) announced a quarterly dividend on Thursday, November 8th, Wall Street Journal reports. Investors of record on Wednesday, November 21st will be given a dividend of 0.33 per share by the oil and gas company on Wednesday, December 12th. This represents a $1.32 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, November 20th.

HollyFrontier has raised its dividend payment by an average of 1.6% per year over the last three years. HollyFrontier has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HollyFrontier to earn $7.84 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 16.8%.

HFC stock opened at $65.74 on Friday. The stock has a market capitalization of $11.35 billion, a P/E ratio of 28.34, a P/E/G ratio of 1.09 and a beta of 1.07. HollyFrontier has a fifty-two week low of $41.33 and a fifty-two week high of $83.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.50 and a quick ratio of 1.30.

HollyFrontier (NYSE:HFC) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.32. HollyFrontier had a net margin of 8.51% and a return on equity of 13.94%. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 28.3% compared to the same quarter last year. On average, analysts anticipate that HollyFrontier will post 5.72 EPS for the current fiscal year.

A number of equities research analysts have weighed in on HFC shares. Zacks Investment Research raised shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Thursday, July 19th. Royal Bank of Canada reissued a “buy” rating and issued a $70.00 price target on shares of HollyFrontier in a report on Friday, August 3rd. US Capital Advisors downgraded shares of HollyFrontier from an “overweight” rating to a “hold” rating in a report on Friday, September 7th. Morgan Stanley upped their price target on shares of HollyFrontier from $75.00 to $82.00 and gave the company a “hold” rating in a report on Monday, July 16th. Finally, Mizuho started coverage on shares of HollyFrontier in a report on Wednesday, August 1st. They issued a “neutral” rating and a $75.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $71.38.

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HollyFrontier Company Profile

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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Dividend History for HollyFrontier (NYSE:HFC)

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