Mackay Shields LLC trimmed its stake in HollyFrontier Corp (NYSE:HFC) by 27.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 562,653 shares of the oil and gas company’s stock after selling 216,697 shares during the period. Mackay Shields LLC’s holdings in HollyFrontier were worth $38,503,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of HollyFrontier by 375.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,900 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 1,500 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new position in shares of HollyFrontier in the 2nd quarter valued at $145,000. IMA Wealth Inc. purchased a new position in shares of HollyFrontier in the 2nd quarter valued at $149,000. Smithfield Trust Co. grew its position in shares of HollyFrontier by 2,619.0% in the 2nd quarter. Smithfield Trust Co. now owns 2,855 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 2,750 shares during the last quarter. Finally, Synovus Financial Corp purchased a new position in shares of HollyFrontier in the 1st quarter valued at $151,000. 83.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:HFC opened at $69.02 on Friday. The stock has a market capitalization of $12.23 billion, a PE ratio of 29.75, a PEG ratio of 1.30 and a beta of 1.12. The company has a current ratio of 2.38, a quick ratio of 1.21 and a debt-to-equity ratio of 0.37. HollyFrontier Corp has a fifty-two week low of $27.04 and a fifty-two week high of $83.28.

HollyFrontier (NYSE:HFC) last issued its earnings results on Thursday, August 2nd. The oil and gas company reported $1.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by ($0.18). The firm had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.14 billion. HollyFrontier had a net margin of 8.62% and a return on equity of 12.10%. The firm’s revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. equities analysts predict that HollyFrontier Corp will post 5.33 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 20th. Stockholders of record on Thursday, August 23rd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, August 22nd. HollyFrontier’s payout ratio is 56.90%.

In related news, CFO Richard Lawrence Voliva III sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $80.97, for a total value of $566,790.00. Following the completion of the sale, the chief financial officer now owns 43,363 shares in the company, valued at $3,511,102.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Jennings sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $72.41, for a total transaction of $724,100.00. Following the completion of the sale, the director now owns 25,917 shares of the company’s stock, valued at approximately $1,876,649.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,771 shares of company stock worth $6,420,807. Insiders own 0.51% of the company’s stock.

Several brokerages have issued reports on HFC. Royal Bank of Canada reissued a “buy” rating and set a $70.00 price objective on shares of HollyFrontier in a research report on Friday, August 3rd. Zacks Investment Research downgraded shares of HollyFrontier from a “buy” rating to a “hold” rating in a research report on Friday, May 11th. Barclays raised their price objective on shares of HollyFrontier from $61.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, May 3rd. ValuEngine downgraded shares of HollyFrontier from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 11th. Finally, Credit Suisse Group raised their price objective on shares of HollyFrontier from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, June 4th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $62.18.

About HollyFrontier

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.

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Institutional Ownership by Quarter for HollyFrontier (NYSE:HFC)

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