Raymond James Assigns a Hold Rating on Hollyfrontier (HFC)

Raymond James analyst Justin Jenkins assigned a Hold rating to Hollyfrontier (HFC) today. The company’s shares closed last Thursday at $18.67, close to its 52-week low of $16.81.

According to TipRanks.com, Jenkins is a 1-star analyst with an average return of -1.7% and a 52.0% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Phillips 66 Partners.

The word on The Street in general, suggests a Hold analyst consensus rating for Hollyfrontier with a $27.78 average price target, implying a 47.2% upside from current levels. In a report issued on October 21, Wells Fargo also maintained a Hold rating on the stock with a $20.00 price target.

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Based on Hollyfrontier’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.06 billion and GAAP net loss of $177 million. In comparison, last year the company earned revenue of $4.78 billion and had a net profit of $197 million.

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HollyFrontier Corp. is an independent petroleum refiner and marketer. It specializes in gasoline, diesel fuel, jet fuel, and modified asphalt. The firm operates through the following segments: Refining; Lubricants and Specialty Products; and Holly Energy Partners, LP (HEP). The Refining segment includes the operations in El Dorado, Tulsa, Navajo, Cheyenne, and Woods Cross Refineries. The Lubricants and Specialty Products segment offers base oil production activities, by-product sales to third parties, and intra-segment base oil sales to rack forward which includes includes the purchase of base oils and the blending, packaging, marketing and distribution and sales of finished lubricants and specialty products to third parties. The HEP segment relates to all of the operations of HEP. The company was founded in 1947 and is headquartered in Dallas, TX.

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