HollyFrontier Corp (HFC) Position Reduced by Russell Investments Group Ltd.
Russell Investments Group Ltd. lowered its position in shares of HollyFrontier Corp (NYSE:HFC) by 32.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,932 shares of the oil and gas company’s stock after selling 108,351 shares during the period. Russell Investments Group Ltd. owned 0.13% of HollyFrontier worth $16,063,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Raymond James & Associates grew its stake in HollyFrontier by 3.5% during the second quarter. Raymond James & Associates now owns 256,077 shares of the oil and gas company’s stock valued at $17,523,000 after acquiring an additional 8,731 shares in the last quarter. Northern Trust Corp grew its stake in HollyFrontier by 4.2% during the second quarter. Northern Trust Corp now owns 2,459,478 shares of the oil and gas company’s stock valued at $168,301,000 after acquiring an additional 98,605 shares in the last quarter. United Services Automobile Association grew its stake in HollyFrontier by 30.2% during the second quarter. United Services Automobile Association now owns 223,704 shares of the oil and gas company’s stock valued at $15,308,000 after acquiring an additional 51,931 shares in the last quarter. Millennium Management LLC grew its stake in HollyFrontier by 38.4% during the second quarter. Millennium Management LLC now owns 2,148,646 shares of the oil and gas company’s stock valued at $147,032,000 after acquiring an additional 595,839 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its stake in HollyFrontier by 13.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 47,774 shares of the oil and gas company’s stock valued at $3,269,000 after acquiring an additional 5,766 shares in the last quarter. 87.65% of the stock is owned by institutional investors.
HFC has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of HollyFrontier from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Monday, July 16th. Zacks Investment Research cut shares of HollyFrontier from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Mizuho initiated coverage on shares of HollyFrontier in a research note on Wednesday, August 1st. They set a “neutral” rating and a $75.00 price objective for the company. Royal Bank of Canada reiterated a “buy” rating and set a $70.00 target price on shares of HollyFrontier in a research report on Friday, August 3rd. Finally, US Capital Advisors lowered shares of HollyFrontier from an “overweight” rating to a “hold” rating in a research report on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. HollyFrontier has a consensus rating of “Hold” and an average price target of $71.38.
HollyFrontier (NYSE:HFC) last announced its earnings results on Wednesday, October 31st. The oil and gas company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.32. HollyFrontier had a net margin of 8.51% and a return on equity of 13.94%. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the business posted $1.14 earnings per share. HollyFrontier’s revenue for the quarter was up 28.3% on a year-over-year basis. Equities research analysts predict that HollyFrontier Corp will post 5.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, November 20th. This represents a $1.32 annualized dividend and a yield of 2.04%. HollyFrontier’s payout ratio is presently 56.90%.
HollyFrontier Company Profile
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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