BlackRock Inc. decreased its holdings in HollyFrontier Corp (NYSE:HFC) by 23.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,542,240 shares of the oil and gas company’s stock after selling 5,158,368 shares during the quarter. BlackRock Inc. owned 9.39% of HollyFrontier worth $1,131,985,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in HFC. Premia Global Advisors LLC acquired a new stake in shares of HollyFrontier during the 2nd quarter worth about $101,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of HollyFrontier by 375.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,900 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 1,500 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in shares of HollyFrontier during the 2nd quarter worth about $145,000. IMA Wealth Inc. acquired a new stake in shares of HollyFrontier during the 2nd quarter worth about $149,000. Finally, Synovus Financial Corp acquired a new stake in shares of HollyFrontier during the 1st quarter worth about $151,000. Institutional investors and hedge funds own 87.73% of the company’s stock.
A number of equities research analysts recently issued reports on HFC shares. Deutsche Bank increased their target price on shares of HollyFrontier from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 3rd. Barclays increased their target price on shares of HollyFrontier from $61.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, May 3rd. Credit Suisse Group increased their target price on shares of HollyFrontier from $57.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, May 4th. Zacks Investment Research upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, May 9th. Finally, Tudor Pickering upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating in a research report on Friday, May 18th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $62.18.
Shares of NYSE:HFC opened at $74.67 on Friday. HollyFrontier Corp has a 12 month low of $30.16 and a 12 month high of $83.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.21 and a current ratio of 2.38. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 1.37 and a beta of 1.12.
HollyFrontier (NYSE:HFC) last issued its quarterly earnings data on Thursday, August 2nd. The oil and gas company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.18). HollyFrontier had a return on equity of 12.10% and a net margin of 8.62%. The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the company earned $0.66 EPS. The firm’s revenue was up 29.3% compared to the same quarter last year. analysts expect that HollyFrontier Corp will post 5.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Thursday, August 23rd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, August 22nd. HollyFrontier’s dividend payout ratio is currently 56.90%.
In other news, CFO Richard Lawrence Voliva III sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $80.97, for a total value of $566,790.00. Following the transaction, the chief financial officer now owns 43,363 shares of the company’s stock, valued at approximately $3,511,102.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George John Damiris sold 51,771 shares of the firm’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $80.67, for a total transaction of $4,176,366.57. Following the completion of the transaction, the chief executive officer now directly owns 181,476 shares in the company, valued at approximately $14,639,668.92. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.
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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