Eagle Asset Management Inc. cut its position in HollyFrontier Corp (NYSE:HFC) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 52,081 shares of the oil and gas company’s stock after selling 1,526 shares during the quarter. Eagle Asset Management Inc.’s holdings in HollyFrontier were worth $2,447,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Magnetar Financial LLC purchased a new position in shares of HollyFrontier in the third quarter valued at $797,000. Breton Hill Capital Ltd. purchased a new position in shares of HollyFrontier in the third quarter valued at $912,000. Wells Fargo & Company MN boosted its stake in shares of HollyFrontier by 32.2% in the third quarter. Wells Fargo & Company MN now owns 657,219 shares of the oil and gas company’s stock valued at $23,640,000 after purchasing an additional 160,132 shares during the period. Precocity Capital LP purchased a new position in shares of HollyFrontier in the third quarter valued at $19,784,000. Finally, Oakbrook Investments LLC purchased a new position in shares of HollyFrontier in the fourth quarter valued at $384,000. Institutional investors and hedge funds own 84.43% of the company’s stock.
Shares of HollyFrontier Corp (HFC) opened at $45.00 on Friday. The firm has a market cap of $7,980.00, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.12. HollyFrontier Corp has a twelve month low of $23.46 and a twelve month high of $53.21. The company has a current ratio of 2.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.42.
HollyFrontier (NYSE:HFC) last issued its earnings results on Wednesday, February 21st. The oil and gas company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.12). The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.85 billion. HollyFrontier had a return on equity of 7.51% and a net margin of 5.65%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period last year, the company posted ($0.06) earnings per share. sell-side analysts anticipate that HollyFrontier Corp will post 3.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, February 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.93%. HollyFrontier’s dividend payout ratio (DPR) is 47.48%.
In related news, SVP James M. Stump sold 30,000 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $51.21, for a total value of $1,536,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael Jennings sold 4,500 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $44.50, for a total transaction of $200,250.00. Following the completion of the sale, the director now directly owns 49,717 shares in the company, valued at approximately $2,212,406.50. The disclosure for this sale can be found here. Insiders have sold 69,649 shares of company stock worth $3,515,728 over the last three months. 0.51% of the stock is owned by corporate insiders.
A number of research firms have commented on HFC. Piper Jaffray Companies reiterated a “hold” rating and set a $38.00 price objective on shares of HollyFrontier in a research note on Friday, November 17th. Zacks Investment Research upgraded shares of HollyFrontier from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective on the stock in a research note on Tuesday, February 13th. Barclays increased their price objective on shares of HollyFrontier from $47.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. Argus upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Monday, November 20th. Finally, Goldman Sachs Group upgraded shares of HollyFrontier from a “sell” rating to a “neutral” rating and set a $26.00 price objective on the stock in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $43.27.
COPYRIGHT VIOLATION WARNING: “Eagle Asset Management Inc. Has $2.45 Million Stake in HollyFrontier Corp (HFC)” was first posted by Transcript Daily and is owned by of Transcript Daily. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://transcriptdaily.com/2018/02/25/eagle-asset-management-inc-has-2-45-million-stake-in-hollyfrontier-corp-hfc.html.
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).
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.