Wells Fargo & Company MN increased its stake in HollyFrontier Corporation (NYSE:HFC) by 32.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 657,219 shares of the oil and gas company’s stock after purchasing an additional 160,132 shares during the period. Wells Fargo & Company MN owned approximately 0.37% of HollyFrontier worth $23,640,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of HFC. Russell Investments Group Ltd. grew its position in HollyFrontier by 15.6% during the second quarter. Russell Investments Group Ltd. now owns 77,152 shares of the oil and gas company’s stock valued at $2,120,000 after acquiring an additional 10,423 shares during the last quarter. Sei Investments Co. grew its position in HollyFrontier by 12.5% during the second quarter. Sei Investments Co. now owns 7,558 shares of the oil and gas company’s stock valued at $208,000 after acquiring an additional 839 shares during the last quarter. IFP Advisors Inc grew its position in HollyFrontier by 304.6% during the second quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 3,674 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in HollyFrontier by 17.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 924,264 shares of the oil and gas company’s stock valued at $25,390,000 after acquiring an additional 135,085 shares during the last quarter. Finally, Arizona State Retirement System grew its position in HollyFrontier by 1.4% during the second quarter. Arizona State Retirement System now owns 74,800 shares of the oil and gas company’s stock valued at $2,055,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors 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. Also, Director James H. Lee sold 5,149 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $47.17, for a total value of $242,878.33. Following the transaction, the director now owns 52,240 shares of the company’s stock, valued at $2,464,160.80. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
HollyFrontier (NYSE:HFC) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.89 by $0.25. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.24 billion. HollyFrontier had a return on equity of 5.18% and a net margin of 2.55%. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. equities research analysts forecast that HollyFrontier Corporation will post 2.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 21st were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Monday, November 20th. HollyFrontier’s dividend payout ratio is currently 69.47%.
A number of analysts have recently weighed in on HFC shares. Cowen reissued a “hold” rating and set a $30.00 price objective on shares of HollyFrontier in a research note on Tuesday, October 17th. Scotiabank raised HollyFrontier from an “outperform” rating to a “focus stock” rating and increased their price objective for the company from $33.00 to $39.00 in a research note on Saturday, September 30th. Zacks Investment Research raised HollyFrontier from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Tuesday, October 17th. Bank of America lowered HollyFrontier from a “neutral” rating to an “underperform” rating in a research note on Friday, December 8th. Finally, ValuEngine raised HollyFrontier from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. HollyFrontier currently has an average rating of “Hold” and a consensus target price of $40.67.
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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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