Aviva PLC reduced its stake in HollyFrontier Corp (NYSE:HFC) by 8.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,127 shares of the oil and gas company’s stock after selling 7,396 shares during the quarter. Aviva PLC’s holdings in HollyFrontier were worth $5,461,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HFC. Raymond James & Associates grew its stake in HollyFrontier by 3.5% in the 2nd quarter. Raymond James & Associates now owns 256,077 shares of the oil and gas company’s stock valued at $17,523,000 after purchasing an additional 8,731 shares during the period. United Services Automobile Association grew its stake in HollyFrontier by 30.2% in the 2nd quarter. United Services Automobile Association now owns 223,704 shares of the oil and gas company’s stock valued at $15,308,000 after purchasing an additional 51,931 shares during the period. Northern Trust Corp grew its stake in HollyFrontier by 4.2% in the 2nd quarter. Northern Trust Corp now owns 2,459,478 shares of the oil and gas company’s stock valued at $168,301,000 after purchasing an additional 98,605 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd grew its stake in HollyFrontier by 149.3% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 37,399 shares of the oil and gas company’s stock valued at $2,614,000 after purchasing an additional 22,399 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in HollyFrontier by 5.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,026,035 shares of the oil and gas company’s stock valued at $71,722,000 after purchasing an additional 51,575 shares during the period. 85.66% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on HFC. US Capital Advisors downgraded HollyFrontier from an “overweight” rating to a “hold” rating in a research note on Friday, September 7th. Jefferies Financial Group upgraded HollyFrontier from an “underperform” rating to a “hold” rating and set a $62.00 price objective for the company in a research note on Tuesday, October 16th. JPMorgan Chase & Co. upped their price objective on HollyFrontier from $77.00 to $79.00 and gave the company an “underweight” rating in a research note on Wednesday, November 14th. Cowen set a $76.00 price objective on HollyFrontier and gave the company a “hold” rating in a research note on Monday, December 3rd. Finally, ValuEngine downgraded HollyFrontier from a “hold” rating to a “sell” rating in a research note on Tuesday, November 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $74.62.
HFC stock opened at $56.85 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.50 and a debt-to-equity ratio of 0.37. The firm has a market cap of $10.07 billion, a PE ratio of 24.50, a PEG ratio of 0.94 and a beta of 1.04. HollyFrontier Corp has a fifty-two week low of $42.42 and a fifty-two week high of $83.28.
HollyFrontier (NYSE:HFC) last posted its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.32. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.42 billion. HollyFrontier had a return on equity of 13.94% and a net margin of 8.51%. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 EPS. On average, equities analysts forecast that HollyFrontier Corp will post 5.86 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 21st will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, November 20th. This represents a $1.32 annualized dividend and a dividend yield of 2.32%. HollyFrontier’s payout ratio is 56.90%.
In other news, Director Robert J. Kostelnik sold 1,500 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $61.62, for a total transaction of $92,430.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.
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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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