Northwestern Mutual Wealth Management Co. Acquires 2,167 Shares of HollyFrontier Corporation (HFC)
Northwestern Mutual Wealth Management Co. boosted its holdings in shares of HollyFrontier Corporation (NYSE:HFC) by 20.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,878 shares of the oil and gas company’s stock after purchasing an additional 2,167 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in HollyFrontier Corporation were worth $354,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Wedbush Securities Inc. raised its stake in HollyFrontier Corporation by 0.7% during the second quarter. Wedbush Securities Inc. now owns 10,875 shares of the oil and gas company’s stock valued at $299,000 after purchasing an additional 71 shares in the last quarter. Utah Retirement Systems raised its stake in shares of HollyFrontier Corporation by 0.3% in the first quarter. Utah Retirement Systems now owns 29,582 shares of the oil and gas company’s stock valued at $838,000 after acquiring an additional 100 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of HollyFrontier Corporation by 1.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 7,707 shares of the oil and gas company’s stock valued at $212,000 after acquiring an additional 100 shares during the period. World Asset Management Inc raised its stake in shares of HollyFrontier Corporation by 1.1% in the second quarter. World Asset Management Inc now owns 15,813 shares of the oil and gas company’s stock valued at $434,000 after acquiring an additional 173 shares during the period. Finally, Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of HollyFrontier Corporation in the second quarter valued at $204,000. 83.84% of the stock is currently owned by institutional investors.
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HFC has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of HollyFrontier Corporation from a “hold” rating to a “sell” rating in a research note on Monday, June 5th. BidaskClub downgraded shares of HollyFrontier Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Piper Jaffray Companies reissued a “neutral” rating on shares of HollyFrontier Corporation in a research note on Thursday, May 25th. Barclays PLC increased their target price on shares of HollyFrontier Corporation from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Finally, Scotiabank reissued a “buy” rating and issued a $33.00 target price on shares of HollyFrontier Corporation in a research note on Friday, September 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.72.
HollyFrontier Corporation (NYSE:HFC) opened at 32.39 on Friday. HollyFrontier Corporation has a 1-year low of $22.63 and a 1-year high of $34.78. The stock has a market cap of $5.68 billion, a P/E ratio of 41.10 and a beta of 1.21. The company has a 50-day moving average of $30.15 and a 200 day moving average of $27.85.
HollyFrontier Corporation (NYSE:HFC) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.24 billion. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. HollyFrontier Corporation’s revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. Analysts predict that HollyFrontier Corporation will post $1.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.32 annualized dividend and a yield of 4.08%. HollyFrontier Corporation’s dividend payout ratio (DPR) is currently 167.09%.
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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