HollyFrontier (HFC) is Upgraded by BofA/Merrill to Buy, Price Target at $50

HollyFrontier (HFC) is Upgraded by BofA/Merrill to Buy according to the research report released to the investors. The brokerage firm has set the Price Target of the shares at $50. Earlier the firm had a rating of Underperform on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-5-2016.

HollyFrontier Corporation has dropped 19.11% during the last 3-month period . Year-to-Date the stock performance stands at 9.62%.

HollyFrontier Corporation (NYSE:HFC) has lost 4.32% during the past week and dropped 16.72% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 3.52%. HollyFrontier Corporation (NYSE:HFC) has underperformed the index by 14.78% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

HollyFrontier Corporation (NYSE:HFC) : On Thursday heightened volatility was witnessed in HollyFrontier Corporation (NYSE:HFC) which led to swings in the share price. The shares opened for trading at $39.54 and hit $40.08 on the upside , eventually ending the session at $39.89, with a gain of 0.2% or 0.08 points. The heightened volatility saw the trading volume jump to 2,961,747 shares. The 52-week high of the share price is $54.73 and the company has a market cap of $7,296 million. The 52-week low of the share price is at $30.15 .

Currently the company Insiders own 0.54% of HollyFrontier Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -19.51% . Institutional Investors own 79.17% of HollyFrontier Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -19.27%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (CEO and President) of Hollyfrontier Corp, Jennings Michael had sold 100,000 shares worth of $4,119,000 in a transaction dated December 15, 2015. In this transaction, 100,000 shares were sold at $41.19 per share.

HollyFrontier Corporation is an independent petroleum refiner that produces refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. The Company operates in two segments: Refining and HEP. The Refining segment includes the operations of the Companys El Dorado, Tulsa, Navajo, Cheyenne and Woods Cross Refineries, and NK Asphalt, which operates various asphalt terminals in Arizona and New Mexico. The HEP segment involves all of the operations of Holly Energy Partners, L.P. (HEP), a variable interest entity in which the Company owned a 39% interest as of December 31, 2013. The Company owns and operates five refineries having a combined crude oil processing capacity of 443,000 barrels per day that serve markets throughout the Mid-Continent, Southwest and Rocky Mountain regions of the United States.