HollyFrontier (NYSE:HFC) shares are trading lower on Tuesday after Cowen & Co. downgraded the stock from Market Perform to Underperform and announced a price target of $22 per share.
HollyFrontier is an independent petroleum refiner that owns and operates five refineries serving the Rockies, midcontinent, and Southwest, with a total crude oil throughput capacity of 510,000 barrels per day. It also has a 57% ownership stake in Holly Energy Partners, which owns and operates petroleum product pipelines and terminals principally in the southwestern United States.
HollyFrontier shares were trading down 2.46% at $27.75 at the time of publication Tuesday. The stock has a 52-week high of $58.88 and a 52-week low of $18.48.