JP Morgan Reports That They Have Downgraded Hollyfrontier Corp (NYSE:HFC) Shares

Remigio Civitarese
Dicembre 8, 2017

The institutional investor owned 2,418,323 shares of the oil and gas company's stock after buying an additional 38,591 shares during the period. Van Eck Assocs owns 0% invested in HollyFrontier Corporation (NYSE:HFC) for 8,734 shares.

Several other institutional investors and hedge funds have also made changes to their positions in the company. ZWJ Investment Counsel Inc. bought a new stake in HollyFrontier Corp during the first quarter valued at approximately $205,000. Finally, Bank of Nova Scotia grew its holdings in HollyFrontier by 233.7% during the second quarter. Principal Financial Group Inc. now owns 1,830,795 shares of the oil and gas company's stock valued at $51,885,000 after buying an additional 69,374 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in HollyFrontier by 2.5% during the second quarter. Ffcm LLC now owns 4,628 shares of the oil and gas company's stock valued at $130,000 after purchasing an additional 4,450 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of HollyFrontier by 304.6% in the 2nd quarter. Van ECK Associates Corp now owns 7,001 shares of the oil and gas company's stock valued at $198,000 after buying an additional 1,073 shares in the last quarter.

In related news, Director Michael Jennings sold 4,500 shares of the stock in a transaction dated Thursday, November 30th. $38.07's average target is -15.81% below currents $45.22 stock price. Schroder Investment Management Group now owns 3,601,605 shares of the oil and gas company's stock valued at $100,845,000 after purchasing an additional 184,984 shares during the period. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.51% of the company's stock. Rfg Advisory Limited Liability Company holds 0.15% of its portfolio in HollyFrontier Corporation (NYSE:HFC) for 20,440 shares. Manchester Cap Mngmt Llc accumulated 53 shares. HollyFrontier has a 1 year low of $23.46 and a 1 year high of $46.16. The firm has a market cap of $7,854.97, a price-to-earnings ratio of 28.59, a P/E/G ratio of 1.99 and a beta of 1.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.00 and a quick ratio of 0.98. The stock of HollyFrontier Corporation (NYSE:HFC) has "Buy" rating given on Wednesday, October 18 by RBC Capital Markets. The oil and gas company reported $1.14 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.89 by $0.25. HollyFrontier Corp had a negative net margin of 3.40% and a positive return on equity of 3.30%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter a year ago, the firm earned $0.42 earnings per share. The business's quarterly revenue was up 30.6% compared to the same quarter a year ago. Stockholders of record on Tuesday, November 21st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Monday, November 20th.

A number of other analysts also recently issued reports on HFC.

HollyFrontier (NYSE:HFC)'s stock had its "hold" rating restated by Piper Jaffray Companies in a research report issued to clients and investors on Friday, November 17th. Scotiabank reiterated a "buy" rating and set a $39.00 price objective on shares of HollyFrontier in a research note on Wednesday, November 1st. Barclays Capital maintained HollyFrontier Corporation (NYSE:HFC) rating on Thursday, November 2. They set an "overweight" rating and a $47.00 price objective for the company.

J.P. Morgan lowered Hollyfrontier Corp (NYSE:HFC) shares, lowering their rating to a "Sell" in analysts note revealed on Friday, 6 October. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. The stock now has an average rating of Hold and a consensus target price of $39.20.

TRADEMARK VIOLATION NOTICE: "HollyFrontier (NYSE:HFC) Upgraded to Buy by Argus" was published by Week Herald and is the sole property of of Week Herald. If you are reading this story on another site, it was stolen and republished in violation of United States and worldwide copyright and trademark legislation. It improved, as 48 investors sold HollyFrontier Corporation shares while 93 reduced holdings.

HollyFrontier Corp Company Profile HollyFrontier Corporation is an independent petroleum refiner. It primarily produces high-value refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt.

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