Los Angeles Capital Management & Equity Research Inc. decreased its stake in shares of HollyFrontier Corporation (NYSE:HFC) by 22.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 409,948 shares of the oil and gas company’s stock after selling 117,310 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.23% of HollyFrontier Corporation worth $11,261,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its position in HollyFrontier Corporation by 7,017.5% during the first quarter. BlackRock Inc. now owns 21,293,640 shares of the oil and gas company’s stock worth $603,462,000 after purchasing an additional 20,994,466 shares during the last quarter. Vanguard Group Inc. increased its position in HollyFrontier Corporation by 4.2% during the first quarter. Vanguard Group Inc. now owns 15,583,886 shares of the oil and gas company’s stock worth $441,649,000 after purchasing an additional 634,370 shares during the last quarter. State Street Corp increased its position in HollyFrontier Corporation by 4.1% during the first quarter. State Street Corp now owns 7,883,569 shares of the oil and gas company’s stock worth $223,408,000 after purchasing an additional 308,388 shares during the last quarter. Dimensional Fund Advisors LP increased its position in HollyFrontier Corporation by 57.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,295,800 shares of the oil and gas company’s stock worth $150,077,000 after purchasing an additional 1,926,908 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in HollyFrontier Corporation by 129.6% during the second quarter. Principal Financial Group Inc. now owns 4,204,355 shares of the oil and gas company’s stock worth $115,495,000 after purchasing an additional 2,373,560 shares during the last quarter. 83.84% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. BidaskClub raised shares of HollyFrontier Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Barclays PLC reiterated an “overweight” rating and set a $39.00 price objective (up from $37.00) on shares of HollyFrontier Corporation in a research note on Wednesday, August 9th. Royal Bank Of Canada boosted their price objective on shares of HollyFrontier Corporation from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. US Capital Advisors reiterated a “hold” rating on shares of HollyFrontier Corporation in a research note on Monday, May 22nd. Finally, Scotiabank reiterated a “buy” rating and set a $33.00 price objective on shares of HollyFrontier Corporation in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.15.
Shares of HollyFrontier Corporation (HFC) opened at 32.40 on Friday. HollyFrontier Corporation has a one year low of $22.63 and a one year high of $34.78. The firm’s 50 day moving average is $29.52 and its 200-day moving average is $27.73. The firm has a market capitalization of $5.68 billion, a PE ratio of 41.12 and a beta of 1.21.
HollyFrontier Corporation (NYSE:HFC) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.24 billion. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. HollyFrontier Corporation’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter last year, the company posted $0.28 earnings per share. On average, equities research analysts predict that HollyFrontier Corporation will post $1.40 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd will be paid a $0.33 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.32 annualized dividend and a dividend yield of 4.07%. HollyFrontier Corporation’s payout ratio is 167.09%.
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HollyFrontier Corporation Company Profile
HollyFrontier Corporation is an independent petroleum refiner. The Company produces various light products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. It segments include Refining and Holly Energy Partners, L.P. (HEP). The Refining segment includes the operations of the Company’s El Dorado, Kansas (the El Dorado Refinery); refinery facilities located in Tulsa, Oklahoma (collectively, the Tulsa Refineries); a refinery in Artesia, New Mexico that is operated in conjunction with crude oil distillation and vacuum distillation and other facilities situated 65 miles away in Lovington, New Mexico (collectively, the Navajo Refinery); refinery located in Cheyenne, Wyoming (the Cheyenne Refinery); a refinery in Woods Cross, Utah (the Woods Cross Refinery), and HollyFrontier Asphalt Company (HFC Asphalt).
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