Insider Selling: HollyFrontier Corporation (HFC) Director Sells $242,878.33 in Stock
HollyFrontier Corporation (NYSE:HFC) Director James H. Lee sold 5,149 shares of HollyFrontier stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $47.17, for a total transaction of $242,878.33. Following the completion of the transaction, the director now owns 52,240 shares of the company’s stock, valued at $2,464,160.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
HollyFrontier Corporation (HFC) opened at $47.86 on Friday. The company has a market cap of $8,484.29, a price-to-earnings ratio of 30.88, a PEG ratio of 2.03 and a beta of 1.31. The company has a current ratio of 2.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.41. HollyFrontier Corporation has a 1 year low of $23.46 and a 1 year high of $48.41.
HollyFrontier (NYSE:HFC) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.25. HollyFrontier had a net margin of 2.55% and a return on equity of 5.18%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. sell-side analysts anticipate that HollyFrontier Corporation will post 2.36 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in HFC. Principal Financial Group Inc. grew its position in HollyFrontier by 129.6% in the second quarter. Principal Financial Group Inc. now owns 4,204,355 shares of the oil and gas company’s stock worth $115,495,000 after acquiring an additional 2,373,560 shares in the last quarter. American Century Companies Inc. grew its position in HollyFrontier by 148.2% in the third quarter. American Century Companies Inc. now owns 1,603,606 shares of the oil and gas company’s stock worth $57,682,000 after acquiring an additional 957,494 shares in the last quarter. Kempen Capital Management N.V. purchased a new position in HollyFrontier in the second quarter worth $24,366,000. Cornerstone Capital Management Holdings LLC. grew its position in HollyFrontier by 741.1% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 1,004,130 shares of the oil and gas company’s stock worth $27,582,000 after acquiring an additional 884,754 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in HollyFrontier by 1,974.5% in the second quarter. Janus Henderson Group PLC now owns 638,955 shares of the oil and gas company’s stock worth $17,552,000 after acquiring an additional 608,155 shares in the last quarter. Institutional investors own 83.31% of the company’s stock.
A number of research analysts recently weighed in on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $38.00 price objective on shares of HollyFrontier in a research note on Friday, September 8th. Tudor Pickering lowered shares of HollyFrontier from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Barclays assumed coverage on shares of HollyFrontier in a research report on Thursday, November 2nd. They set an “overweight” rating and a $47.00 price target for the company. Argus upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Monday, November 20th. Finally, Cowen restated a “market perform” rating and set a $38.00 price target (up from $35.00) on shares of HollyFrontier in a research report on Friday, December 8th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.67.
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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