Westover Capital Advisors LLC Purchases New Stake in HollyFrontier Corporation (HFC)
Westover Capital Advisors LLC purchased a new position in shares of HollyFrontier Corporation (NYSE:HFC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,827 shares of the oil and gas company’s stock, valued at approximately $600,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its position in HollyFrontier Corporation by 7,017.5% during the 1st quarter. BlackRock Inc. now owns 21,293,640 shares of the oil and gas company’s stock worth $603,462,000 after purchasing an additional 20,994,466 shares during the period. Vanguard Group Inc. grew its position in HollyFrontier Corporation by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 15,844,018 shares of the oil and gas company’s stock worth $435,236,000 after purchasing an additional 260,132 shares during the period. State Street Corp grew its position in HollyFrontier Corporation by 3.9% during the 2nd quarter. State Street Corp now owns 8,194,765 shares of the oil and gas company’s stock worth $225,091,000 after purchasing an additional 311,196 shares during the period. Dimensional Fund Advisors LP grew its position in HollyFrontier Corporation by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,412,302 shares of the oil and gas company’s stock worth $148,687,000 after purchasing an additional 116,502 shares during the period. Finally, Principal Financial Group Inc. grew its position in HollyFrontier Corporation by 129.6% during the 2nd quarter. Principal Financial Group Inc. now owns 4,204,355 shares of the oil and gas company’s stock worth $115,495,000 after purchasing an additional 2,373,560 shares during the period. 82.47% of the stock is currently owned by institutional investors.
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HFC has been the topic of a number of analyst reports. Scotiabank upgraded HollyFrontier Corporation from an “outperform” rating to a “focus stock” rating and raised their target price for the company from $33.00 to $39.00 in a research report on Saturday, September 30th. BidaskClub cut HollyFrontier Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Royal Bank Of Canada restated a “buy” rating and set a $37.00 target price on shares of HollyFrontier Corporation in a research report on Thursday, June 15th. Zacks Investment Research upgraded HollyFrontier Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Barclays PLC raised their target price on HollyFrontier Corporation from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. HollyFrontier Corporation has a consensus rating of “Hold” and an average price target of $34.05.
Shares of HollyFrontier Corporation (NYSE HFC) traded down 2.62% on Friday, reaching $34.91. 1,638,722 shares of the company were exchanged. The company has a market capitalization of $6.12 billion, a P/E ratio of 44.30 and a beta of 1.23. The stock has a 50 day moving average of $32.45 and a 200-day moving average of $28.55. HollyFrontier Corporation has a 52-week low of $22.63 and a 52-week high of $37.00.
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, beating the consensus estimate of $0.46 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.24 billion. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. On average, analysts predict that HollyFrontier Corporation will post $1.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Monday, August 21st. HollyFrontier Corporation’s dividend payout ratio 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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