Pinebridge Investments L.P. boosted its stake in HollyFrontier Corp (NYSE:HFC) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,750 shares of the oil and gas company’s stock after buying an additional 10,252 shares during the period. Pinebridge Investments L.P. owned 0.05% of HollyFrontier worth $3,969,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Amica Retiree Medical Trust acquired a new position in shares of HollyFrontier during the second quarter valued at $31,000. CSat Investment Advisory L.P. increased its holdings in shares of HollyFrontier by 45.6% during the first quarter. CSat Investment Advisory L.P. now owns 769 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 241 shares during the period. NuWave Investment Management LLC increased its holdings in shares of HollyFrontier by 69.7% during the second quarter. NuWave Investment Management LLC now owns 847 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 348 shares during the period. Rational Advisors LLC increased its holdings in shares of HollyFrontier by 69.7% during the second quarter. Rational Advisors LLC now owns 847 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 348 shares during the period. Finally, AdvisorNet Financial Inc acquired a new position in HollyFrontier during the second quarter worth about $39,000. 84.39% of the stock is currently owned by hedge funds and other institutional investors.
In other HollyFrontier news, Director Franklin Myers acquired 2,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $49.72 per share, for a total transaction of $124,300.00. Following the transaction, the director now owns 24,989 shares of the company’s stock, valued at approximately $1,242,453.08. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.49% of the company’s stock.
A number of research firms recently issued reports on HFC. ValuEngine raised HollyFrontier from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. lowered their target price on HollyFrontier from $55.00 to $50.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $59.19.
Shares of NYSE:HFC traded up $0.69 during midday trading on Friday, reaching $51.38. The company had a trading volume of 1,666,174 shares, compared to its average volume of 1,993,826. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.08. HollyFrontier Corp has a 1-year low of $37.73 and a 1-year high of $72.30. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.04 and a beta of 1.46. The company has a fifty day simple moving average of $47.37 and a two-hundred day simple moving average of $46.83.
HollyFrontier (NYSE:HFC) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $2.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.51. HollyFrontier had a return on equity of 18.51% and a net margin of 5.25%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period last year, the company posted $1.45 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts expect that HollyFrontier Corp will post 4.71 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.32 dividend on an annualized basis and a yield of 2.57%. HollyFrontier’s payout ratio is presently 20.50%.
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.
See Also: Diversification
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