Wedbush Securities Inc. lifted its stake in HollyFrontier Corp (NYSE:HFC) by 8.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,262 shares of the oil and gas company’s stock after purchasing an additional 613 shares during the quarter. Wedbush Securities Inc.’s holdings in HollyFrontier were worth $382,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. CSat Investment Advisory L.P. raised its position in HollyFrontier by 45.6% during the 1st quarter. CSat Investment Advisory L.P. now owns 769 shares of the oil and gas company’s stock worth $38,000 after buying an additional 241 shares during the last quarter. Quantamental Technologies LLC purchased a new position in HollyFrontier during the 1st quarter worth approximately $40,000. NuWave Investment Management LLC raised its position in HollyFrontier by 69.7% during the 2nd quarter. NuWave Investment Management LLC now owns 847 shares of the oil and gas company’s stock worth $39,000 after buying an additional 348 shares during the last quarter. AdvisorNet Financial Inc purchased a new position in HollyFrontier during the 2nd quarter worth approximately $39,000. Finally, Pinnacle Financial Partners Inc. purchased a new position in HollyFrontier during the 1st quarter worth approximately $49,000. 87.44% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Franklin Myers acquired 2,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $49.72 per share, with a total value of $124,300.00. Following the purchase, the director now directly owns 24,989 shares of the company’s stock, valued at $1,242,453.08. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.49% of the stock is owned by company insiders.
A number of research firms have issued reports on HFC. Bank of America raised shares of HollyFrontier from an “underperform” rating to a “neutral” rating and set a $48.70 price target for the company in a research report on Monday, April 29th. Morgan Stanley set a $54.00 price target on shares of HollyFrontier and gave the stock a “hold” rating in a research report on Friday, May 17th. Finally, ValuEngine cut shares of HollyFrontier from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. HollyFrontier has an average rating of “Hold” and an average price target of $62.41.
Shares of NYSE HFC opened at $44.35 on Friday. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 0.88 and a beta of 1.45. HollyFrontier Corp has a 12 month low of $37.73 and a 12 month high of $76.56. The firm’s 50 day simple moving average is $47.99 and its 200-day simple moving average is $48.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.08 and a quick ratio of 1.10.
HollyFrontier (NYSE:HFC) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.51. The business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.31 billion. HollyFrontier had a net margin of 5.25% and a return on equity of 18.51%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $1.45 EPS. Analysts anticipate that HollyFrontier Corp will post 4.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. HollyFrontier’s payout ratio is 20.50%.
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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