HollyFrontier Corp (NYSE:HFC) Short Interest Update

HollyFrontier Corp (NYSE:HFC) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 5,819,900 shares, a decline of 6.9% from the June 30th total of 6,252,400 shares. Based on an average daily trading volume, of 2,010,000 shares, the short-interest ratio is currently 2.9 days. Approximately 3.4% of the shares of the company are sold short.

NYSE HFC traded up $0.49 during trading hours on Friday, reaching $44.35. The company’s stock had a trading volume of 2,880,454 shares, compared to its average volume of 2,149,455. The firm’s 50-day moving average price is $47.99 and its 200-day moving average price is $48.04. The company has a quick ratio of 1.10, a current ratio of 2.08 and a debt-to-equity ratio of 0.43. HollyFrontier has a 1 year low of $37.73 and a 1 year high of $76.56. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 0.94 and a beta of 1.45.

HollyFrontier (NYSE:HFC) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $2.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.51. HollyFrontier had a return on equity of 18.51% and a net margin of 5.25%. The company had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the previous year, the firm earned $1.45 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that HollyFrontier will post 4.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 22nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.32 dividend on an annualized basis and a yield of 2.98%. HollyFrontier’s dividend payout ratio is presently 20.50%.

A number of research analysts have recently weighed in on the company. Bank of America raised HollyFrontier from an “underperform” rating to a “neutral” rating and set a $48.70 price objective on the stock in a research report on Monday, April 29th. Morgan Stanley set a $54.00 price objective on HollyFrontier and gave the company a “hold” rating in a research report on Friday, May 17th. Finally, ValuEngine cut HollyFrontier from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $62.41.

In related news, Director Franklin Myers acquired 2,500 shares of the stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $49.72 per share, with a total value of $124,300.00. Following the transaction, the director now directly owns 24,989 shares in the company, valued at $1,242,453.08. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.49% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of HFC. AQR Capital Management LLC lifted its holdings in HollyFrontier by 17.5% in the 1st quarter. AQR Capital Management LLC now owns 11,776,317 shares of the oil and gas company’s stock worth $580,219,000 after purchasing an additional 1,753,888 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in HollyFrontier by 244.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,165,064 shares of the oil and gas company’s stock worth $53,919,000 after purchasing an additional 827,015 shares in the last quarter. Prudential Financial Inc. lifted its holdings in HollyFrontier by 94.6% in the 2nd quarter. Prudential Financial Inc. now owns 1,154,726 shares of the oil and gas company’s stock worth $53,441,000 after purchasing an additional 561,478 shares in the last quarter. Marshall Wace LLP purchased a new position in HollyFrontier in the 2nd quarter worth approximately $18,534,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in HollyFrontier by 388.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 440,000 shares of the oil and gas company’s stock worth $20,363,000 after purchasing an additional 350,000 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

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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