Wedge Capital Management L L P NC Has $979,000 Stake in HollyFrontier Corp (HFC)
Wedge Capital Management L L P NC decreased its stake in HollyFrontier Corp (NYSE:HFC) by 31.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,313 shares of the oil and gas company’s stock after selling 6,495 shares during the period. Wedge Capital Management L L P NC’s holdings in HollyFrontier were worth $979,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in HollyFrontier during the fourth quarter worth about $5,765,000. Hennessy Advisors Inc. boosted its holdings in HollyFrontier by 3.9% during the first quarter. Hennessy Advisors Inc. now owns 745,400 shares of the oil and gas company’s stock worth $36,420,000 after purchasing an additional 27,800 shares during the last quarter. Dupont Capital Management Corp boosted its holdings in HollyFrontier by 20.2% during the first quarter. Dupont Capital Management Corp now owns 27,645 shares of the oil and gas company’s stock worth $1,351,000 after purchasing an additional 4,645 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in HollyFrontier by 501.7% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 42,008 shares of the oil and gas company’s stock worth $2,053,000 after purchasing an additional 35,027 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in HollyFrontier by 9.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 542,940 shares of the oil and gas company’s stock worth $26,528,000 after purchasing an additional 48,159 shares during the last quarter. 83.68% of the stock is owned by institutional investors.
In other HollyFrontier news, Director Franklin Myers sold 30,000 shares of HollyFrontier stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $67.43, for a total value of $2,022,900.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Richard Lawrence Voliva III sold 7,000 shares of HollyFrontier stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $80.97, for a total transaction of $566,790.00. Following the completion of the sale, the chief financial officer now directly owns 43,363 shares in the company, valued at approximately $3,511,102.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,771 shares of company stock worth $9,797,107. Insiders own 0.57% of the company’s stock.
HollyFrontier (NYSE:HFC) last announced its quarterly earnings data on Thursday, August 2nd. The oil and gas company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.18). The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.14 billion. HollyFrontier had a return on equity of 12.10% and a net margin of 8.62%. The business’s revenue was up 29.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. research analysts predict that HollyFrontier Corp will post 5.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Thursday, August 23rd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Wednesday, August 22nd. HollyFrontier’s dividend payout ratio is 56.90%.
Several research analysts recently weighed in on the stock. Credit Suisse Group boosted their price target on shares of HollyFrontier from $70.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, June 4th. ValuEngine cut shares of HollyFrontier from a “strong-buy” rating to a “buy” rating in a report on Monday, June 11th. Wells Fargo & Co boosted their price target on shares of HollyFrontier from $63.00 to $69.00 and gave the stock a “market perform” rating in a report on Tuesday, May 29th. Mizuho assumed coverage on shares of HollyFrontier in a report on Wednesday, August 1st. They set a “neutral” rating and a $75.00 price target on the stock. Finally, Argus boosted their price target on shares of HollyFrontier to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 24th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. HollyFrontier has an average rating of “Hold” and a consensus price target of $62.18.
HollyFrontier Corporation operates as an independent petroleum refiner in the United States. The company operates through three segments: Refining, Lubricants and Specialty Products, and HEP. It primarily produces high-value light products, such as gasoline, diesel and jet fuel, and specialty lubricant products, as well as specialty and modified asphalt.
Further Reading: Outstanding Shares
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