Boston Private Wealth LLC Raises Stake in HollyFrontier Corporation (HFC)
Boston Private Wealth LLC raised its position in HollyFrontier Corporation (NYSE:HFC) by 19.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,233 shares of the oil and gas company’s stock after buying an additional 6,207 shares during the period. Boston Private Wealth LLC’s holdings in HollyFrontier Corporation were worth $1,050,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of HFC. Toronto Dominion Bank increased its stake in HollyFrontier Corporation by 11.3% in the first quarter. Toronto Dominion Bank now owns 3,759 shares of the oil and gas company’s stock worth $107,000 after buying an additional 382 shares during the period. AT Bancorp acquired a new stake in HollyFrontier Corporation during the second quarter worth $104,000. Mn Services Vermogensbeheer B.V. increased its stake in HollyFrontier Corporation by 5.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,472 shares of the oil and gas company’s stock worth $118,000 after buying an additional 236 shares during the period. IFP Advisors Inc increased its stake in HollyFrontier Corporation by 304.6% in the second quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock worth $134,000 after buying an additional 3,674 shares during the period. Finally, First Mercantile Trust Co. increased its stake in HollyFrontier Corporation by 5,539.1% in the first quarter. First Mercantile Trust Co. now owns 6,485 shares of the oil and gas company’s stock worth $184,000 after buying an additional 6,370 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.
HollyFrontier Corporation (HFC) opened at 28.10 on Thursday. The stock has a market capitalization of $4.93 billion, a PE ratio of 35.66 and a beta of 1.24. The company’s 50 day moving average is $28.18 and its 200-day moving average is $27.59. HollyFrontier Corporation has a 1-year low of $22.63 and a 1-year high of $34.78.
HollyFrontier Corporation (NYSE:HFC) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. Analysts forecast that HollyFrontier Corporation will post $1.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.70%. The ex-dividend date is Monday, August 21st. HollyFrontier Corporation’s dividend payout ratio is presently 167.09%.
A number of research firms have recently weighed in on HFC. Barclays PLC restated an “overweight” rating and issued a $39.00 target price (up from $37.00) on shares of HollyFrontier Corporation in a report on Wednesday, August 9th. BidaskClub upgraded shares of HollyFrontier Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $38.00 target price (up from $36.00) on shares of HollyFrontier Corporation in a report on Wednesday, August 9th. Scotiabank upgraded shares of HollyFrontier Corporation from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 2nd. Finally, Simmons restated a “neutral” rating and issued a $25.00 target price (down from $27.00) on shares of HollyFrontier Corporation in a report on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. HollyFrontier Corporation presently has an average rating of “Hold” and a consensus price target of $30.32.
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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