HollyFrontier Corp (HFC) To Go Ex-Dividend on August 22nd
HollyFrontier Corp (NYSE:HFC) announced a quarterly dividend on Friday, August 3rd, Wall Street Journal reports. Investors of record on Thursday, August 23rd will be given a dividend of 0.33 per share by the oil and gas company on Thursday, September 20th. This represents a $1.32 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, August 22nd.
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 24.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HollyFrontier to earn $7.65 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 17.3%.
HFC opened at $67.75 on Friday. The firm has a market cap of $12.16 billion, a P/E ratio of 29.20, a PEG ratio of 1.29 and a beta of 1.12. HollyFrontier has a twelve month low of $27.04 and a twelve month high of $83.28. The company has a quick ratio of 1.21, a current ratio of 2.38 and a debt-to-equity ratio of 0.37.
In other news, CFO Richard Lawrence Voliva III sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $80.97, for a total value of $566,790.00. Following the transaction, the chief financial officer now directly owns 43,363 shares in the company, valued at approximately $3,511,102.11. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leldon E. Echols sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $73.35, for a total transaction of $953,550.00. Following the completion of the transaction, the director now owns 36,725 shares in the company, valued at $2,693,778.75. The disclosure for this sale can be found here. Insiders have sold a total of 71,771 shares of company stock worth $5,696,707 over the last quarter. 0.57% of the stock is currently owned by insiders.
A number of equities research analysts recently weighed in on the stock. Cowen raised their price target on shares of HollyFrontier from $40.00 to $65.00 and gave the company a “market perform” rating in a report on Wednesday, May 2nd. Barclays raised their price target on shares of HollyFrontier from $61.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, May 3rd. Zacks Investment Research raised shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, May 9th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $57.00 price target on shares of HollyFrontier in a report on Tuesday, April 24th. Finally, Mizuho assumed coverage on shares of HollyFrontier in a report on Wednesday, August 1st. They set a “neutral” rating and a $75.00 price target for the company. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $62.18.
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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