Nikko Asset Management Americas Inc. raised its position in shares of HollyFrontier Corporation (NYSE:HFC) by 56.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 224,800 shares of the company’s stock after buying an additional 81,500 shares during the period. Nikko Asset Management Americas Inc. owned about 0.13% of HollyFrontier Corporation worth $5,508,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in HollyFrontier Corporation by 0.6% in the second quarter. Vanguard Group Inc. now owns 14,939,459 shares of the company’s stock worth $355,111,000 after buying an additional 87,200 shares during the last quarter. BlackRock Fund Advisors boosted its stake in HollyFrontier Corporation by 5.6% in the second quarter. BlackRock Fund Advisors now owns 9,865,424 shares of the company’s stock worth $234,501,000 after buying an additional 527,218 shares during the last quarter. State Street Corp boosted its stake in HollyFrontier Corporation by 5.1% in the second quarter. State Street Corp now owns 7,573,073 shares of the company’s stock worth $180,013,000 after buying an additional 369,807 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in HollyFrontier Corporation by 5.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,505,937 shares of the company’s stock worth $130,876,000 after buying an additional 262,357 shares during the last quarter. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new stake in HollyFrontier Corporation during the second quarter worth $67,706,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of HollyFrontier Corporation (NYSE:HFC) traded up 1.99% during trading on Wednesday, reaching $31.32. 1,013,724 shares of the company traded hands. HollyFrontier Corporation has a 12-month low of $22.07 and a 12-month high of $39.17. The company has a 50 day moving average price of $31.49 and a 200 day moving average price of $26.61. The firm’s market capitalization is $5.51 billion.
HollyFrontier Corporation (NYSE:HFC) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. HollyFrontier Corporation had a negative net margin of 3.40% and a positive return on equity of 3.30%. The business earned $2.85 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the previous year, the company earned $1.82 EPS. The business’s revenue was down 20.6% on a year-over-year basis. On average, equities analysts predict that HollyFrontier Corporation will post $0.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Monday, November 28th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.30%. The ex-dividend date was Wednesday, November 23rd. HollyFrontier Corporation’s dividend payout ratio (DPR) is -65.02%.
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HFC has been the topic of several research analyst reports. Deutsche Bank AG raised shares of HollyFrontier Corporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $30.00 to $38.00 in a research note on Wednesday, January 4th. Zacks Investment Research raised shares of HollyFrontier Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Barclays PLC reaffirmed an “overweight” rating and set a $35.00 price objective (up from $32.00) on shares of HollyFrontier Corporation in a research note on Monday, October 10th. RBC Capital Markets reaffirmed an “outperform” rating and set a $37.00 price objective (up from $35.00) on shares of HollyFrontier Corporation in a research note on Tuesday, November 1st. Finally, TheStreet raised shares of HollyFrontier Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, December 1st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $31.57.
In other HollyFrontier Corporation news, Director James H. Lee sold 2,730 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $31.72, for a total value of $86,595.60. Following the transaction, the director now directly owns 54,199 shares of the company’s stock, valued at approximately $1,719,192.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Jennings sold 6,529 shares of the firm’s stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $32.18, for a total transaction of $210,103.22. Following the completion of the transaction, the insider now directly owns 62,727 shares in the company, valued at $2,018,554.86. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
About HollyFrontier Corporation
HollyFrontier Corporation (HollyFrontier) is an independent petroleum refiner. The Company produces various refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. The Company operates through two segments: Refining and Holly Energy Partners, L.P.
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