Texas Permanent School Fund cut its stake in shares of HollyFrontier Corp (NYSE:HFC) by 4.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 30,564 shares of the oil and gas company’s stock after selling 1,500 shares during the quarter. Texas Permanent School Fund’s holdings in HollyFrontier were worth $1,506,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CSat Investment Advisory L.P. lifted its holdings in shares of HollyFrontier by 126.6% during the 4th quarter. CSat Investment Advisory L.P. now owns 528 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 295 shares in the last quarter. We Are One Seven LLC acquired a new position in shares of HollyFrontier during the 4th quarter valued at $37,000. Quantamental Technologies LLC acquired a new position in shares of HollyFrontier during the 1st quarter valued at $40,000. Clarus Wealth Advisors acquired a new position in shares of HollyFrontier during the 1st quarter valued at $43,000. Finally, Pinnacle Financial Partners Inc. acquired a new position in HollyFrontier in the 1st quarter worth $49,000. 85.34% of the stock is owned by institutional investors.
In other HollyFrontier news, Director Franklin Myers bought 2,900 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average cost of $42.78 per share, with a total value of $124,062.00. Following the completion of the purchase, the director now directly owns 22,489 shares in the company, valued at $962,079.42. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.49% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on HFC. Zacks Investment Research downgraded shares of HollyFrontier from a “hold” rating to a “strong sell” rating in a research report on Monday, February 4th. Royal Bank of Canada reissued a “buy” rating and issued a $66.00 target price on shares of HollyFrontier in a research report on Friday, February 22nd. Tudor Pickering downgraded shares of HollyFrontier from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Morgan Stanley began coverage on shares of HollyFrontier in a research report on Tuesday, February 12th. They issued an “equal weight” rating and a $65.00 target price for the company. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $49.00 target price on shares of HollyFrontier in a research report on Tuesday, January 29th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. HollyFrontier currently has an average rating of “Hold” and a consensus target price of $66.98.
HFC stock traded up $0.30 on Friday, hitting $41.26. 20,143 shares of the company’s stock traded hands, compared to its average volume of 2,223,844. HollyFrontier Corp has a 1-year low of $40.74 and a 1-year high of $83.28. The firm has a market cap of $6.99 billion, a PE ratio of 6.40, a P/E/G ratio of 0.95 and a beta of 1.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.99 and a quick ratio of 0.99.
HollyFrontier (NYSE:HFC) last released its earnings results on Thursday, May 2nd. The oil and gas company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.36 by $0.18. HollyFrontier had a net margin of 6.19% and a return on equity of 16.86%. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the business earned $0.77 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect that HollyFrontier Corp will post 4.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Monday, May 20th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, May 17th. HollyFrontier’s dividend payout ratio is presently 20.50%.
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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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