Chartwell Investment Partners LLC trimmed its holdings in HollyFrontier Corporation (NYSE:HFC) by 7.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 187,920 shares of the oil and gas company’s stock after selling 14,360 shares during the quarter. Chartwell Investment Partners LLC owned about 0.11% of HollyFrontier Corporation worth $6,759,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in HollyFrontier Corporation by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,760,488 shares of the oil and gas company’s stock worth $75,829,000 after purchasing an additional 11,604 shares during the last quarter. Comerica Bank raised its stake in HollyFrontier Corporation by 0.6% in the 2nd quarter. Comerica Bank now owns 153,411 shares of the oil and gas company’s stock valued at $4,230,000 after acquiring an additional 964 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in HollyFrontier Corporation by 2.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 507,510 shares of the oil and gas company’s stock valued at $13,941,000 after acquiring an additional 12,343 shares during the period. Schroder Investment Management Group raised its stake in HollyFrontier Corporation by 5.4% in the 2nd quarter. Schroder Investment Management Group now owns 3,601,605 shares of the oil and gas company’s stock valued at $100,845,000 after acquiring an additional 184,984 shares during the period. Finally, Bank of Nova Scotia raised its stake in HollyFrontier Corporation by 233.7% in the 2nd quarter. Bank of Nova Scotia now owns 717,500 shares of the oil and gas company’s stock valued at $19,710,000 after acquiring an additional 502,500 shares during the period. 79.21% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently issued reports on HFC shares. Royal Bank Of Canada reissued a “buy” rating and set a $38.00 target price on shares of HollyFrontier Corporation in a report on Friday, September 8th. Zacks Investment Research upgraded HollyFrontier Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Argus upgraded HollyFrontier Corporation from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Monday. Barclays PLC initiated coverage on HollyFrontier Corporation in a research note on Thursday, November 2nd. They issued an “overweight” rating and a $47.00 price objective for the company. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $38.00 target price on shares of HollyFrontier Corporation in a research report on Friday, November 17th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. HollyFrontier Corporation has an average rating of “Hold” and a consensus price target of $38.59.
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HollyFrontier Corporation (HFC) traded up $0.49 during mid-day trading on Wednesday, hitting $44.79. 2,271,200 shares of the stock traded hands, compared to its average volume of 2,804,687. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.98 and a current ratio of 2.00. HollyFrontier Corporation has a twelve month low of $23.46 and a twelve month high of $44.86. The stock has a market cap of $7,853.20, a price-to-earnings ratio of 28.58, a P/E/G ratio of 2.05 and a beta of 1.21.
HollyFrontier Corporation (NYSE:HFC) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.25. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.24 billion. HollyFrontier Corporation had a net margin of 2.55% and a return on equity of 5.18%. The business’s revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. research analysts expect that HollyFrontier Corporation will post 2.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 21st will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.32 annualized dividend and a yield of 2.95%. HollyFrontier Corporation’s dividend payout ratio is presently 69.47%.
About HollyFrontier Corporation
HollyFrontier Corporation is an independent petroleum refiner. The Company produces various light products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. It segments include Refining and Holly Energy Partners, L.P. (HEP). The Refining segment includes the operations of the Company’s El Dorado, Kansas (the El Dorado Refinery); refinery facilities located in Tulsa, Oklahoma (collectively, the Tulsa Refineries); a refinery in Artesia, New Mexico that is operated in conjunction with crude oil distillation and vacuum distillation and other facilities situated 65 miles away in Lovington, New Mexico (collectively, the Navajo Refinery); refinery located in Cheyenne, Wyoming (the Cheyenne Refinery); a refinery in Woods Cross, Utah (the Woods Cross Refinery), and HollyFrontier Asphalt Company (HFC Asphalt).
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