GAM Holding AG Increases Position in HollyFrontier Corp (HFC)
GAM Holding AG grew its holdings in shares of HollyFrontier Corp (NYSE:HFC) by 95.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,536 shares of the oil and gas company’s stock after acquiring an additional 8,089 shares during the quarter. GAM Holding AG’s holdings in HollyFrontier were worth $1,131,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Premia Global Advisors LLC purchased a new position in shares of HollyFrontier during the second quarter worth approximately $101,000. Harel Insurance Investments & Financial Services Ltd. raised its position in 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 worth $130,000 after purchasing an additional 1,500 shares during the period. Transamerica Financial Advisors Inc. purchased a new position in HollyFrontier in the 2nd quarter worth $145,000. IMA Wealth Inc. purchased a new position in HollyFrontier in the 2nd quarter worth $149,000. Finally, Advisors Preferred LLC purchased a new position in HollyFrontier in the 2nd quarter worth $175,000. 87.73% of the stock is currently owned by hedge funds and other institutional investors.
In other HollyFrontier news, CFO Richard Lawrence Voliva III sold 7,000 shares of the business’s stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $80.97, for a total transaction of $566,790.00. Following the transaction, the chief financial officer now directly owns 43,363 shares of the company’s stock, valued at approximately $3,511,102.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO George John Damiris sold 51,771 shares of the business’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $80.67, for a total transaction of $4,176,366.57. Following the transaction, the chief executive officer now owns 181,476 shares in the company, valued at approximately $14,639,668.92. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.
HollyFrontier (NYSE:HFC) last announced its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.18). HollyFrontier had a net margin of 8.62% and a return on equity of 12.10%. The business had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. equities analysts predict that HollyFrontier Corp will post 5.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 20th. Stockholders of record on Thursday, August 23rd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, August 22nd. This represents a $1.32 annualized dividend and a dividend yield of 1.77%. HollyFrontier’s dividend payout ratio (DPR) is presently 56.90%.
Several research firms have recently commented on HFC. Tudor Pickering upgraded HollyFrontier from a “hold” rating to a “buy” rating in a report on Friday, May 18th. Morgan Stanley lifted their price objective on HollyFrontier from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Monday, July 16th. Zacks Investment Research downgraded HollyFrontier from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Barclays lifted their price objective on HollyFrontier from $61.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, May 3rd. Finally, Wells Fargo & Co lifted their price target on HollyFrontier from $63.00 to $69.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 29th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. HollyFrontier currently has an average rating of “Hold” and a consensus target price 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: Leveraged Buyout (LBO) Explained
Want to see what other hedge funds are holding HFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HollyFrontier Corp (NYSE:HFC).
Receive News & Ratings for HollyFrontier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HollyFrontier and related companies with MarketBeat.com's FREE daily email newsletter.