Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of HollyFrontier Corporation (NYSE:HFC) by 550.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 218,578 shares of the oil and gas company’s stock after acquiring an additional 184,999 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.12% of HollyFrontier worth $7,862,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Systematic Financial Management LP bought a new position in shares of HollyFrontier in the third quarter worth approximately $19,967,000. Pacer Advisors Inc. grew its holdings in shares of HollyFrontier by 11.5% in the third quarter. Pacer Advisors Inc. now owns 27,204 shares of the oil and gas company’s stock worth $979,000 after purchasing an additional 2,798 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of HollyFrontier in the third quarter worth approximately $332,000. ClariVest Asset Management LLC bought a new position in shares of HollyFrontier in the third quarter worth approximately $374,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of HollyFrontier by 45.6% in the third quarter. Russell Investments Group Ltd. now owns 112,338 shares of the oil and gas company’s stock worth $4,041,000 after purchasing an additional 35,186 shares during the last quarter. Institutional investors and hedge funds own 83.31% of the company’s stock.
In other news, Director Michael Jennings sold 4,500 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $44.50, for a total transaction of $200,250.00. Following the completion of the transaction, the director now directly owns 49,717 shares in the company, valued at $2,212,406.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by company insiders.
A number of brokerages recently commented on HFC. Tudor Pickering lowered HollyFrontier from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Argus raised HollyFrontier from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Monday, November 20th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $38.00 price target on shares of HollyFrontier in a research note on Friday, November 17th. Barclays raised their price target on HollyFrontier from $47.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. Finally, TheStreet raised HollyFrontier from a “c+” rating to a “b” rating in a research note on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. HollyFrontier has an average rating of “Hold” and a consensus target price of $38.59.
HollyFrontier Corporation (NYSE:HFC) opened at $44.31 on Tuesday. HollyFrontier Corporation has a 52-week low of $23.46 and a 52-week high of $45.33. The company has a current ratio of 2.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $7,844.33, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 2.04 and a beta of 1.31.
HollyFrontier (NYSE:HFC) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.25. HollyFrontier had a return on equity of 5.18% and a net margin of 2.55%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the company earned $0.42 earnings per share. The company’s revenue was up 30.6% on a year-over-year basis. equities research analysts forecast that HollyFrontier Corporation will post 2.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.32 annualized dividend and a dividend yield of 2.98%. HollyFrontier’s payout ratio is presently 69.47%.
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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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