LSV Asset Management Sells 89,400 Shares of HollyFrontier Corp (NYSE:HFC)

LSV Asset Management reduced its stake in HollyFrontier Corp (NYSE:HFC) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,673,005 shares of the oil and gas company’s stock after selling 89,400 shares during the period. LSV Asset Management owned approximately 1.65% of HollyFrontier worth $52,684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Tobam purchased a new stake in HollyFrontier during the second quarter valued at $27,000. Price Wealth LLC acquired a new stake in HollyFrontier during the third quarter worth about $31,000. NuWave Investment Management LLC acquired a new stake in HollyFrontier during the second quarter worth about $38,000. Parallel Advisors LLC raised its stake in HollyFrontier by 69.1% during the second quarter. Parallel Advisors LLC now owns 1,784 shares of the oil and gas company’s stock worth $52,000 after acquiring an additional 729 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in HollyFrontier during the third quarter worth about $56,000. Institutional investors own 83.89% of the company’s stock.

HFC stock traded down $0.65 during midday trading on Monday, hitting $19.74. The company’s stock had a trading volume of 29,212 shares, compared to its average volume of 2,650,614. The company has a market cap of $3.30 billion, a PE ratio of -19.64 and a beta of 1.67. HollyFrontier Corp has a 12 month low of $18.38 and a 12 month high of $58.88. The company has a current ratio of 2.10, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $20.86 and its 200-day moving average is $26.56.

HollyFrontier (NYSE:HFC) last released its quarterly earnings data on Thursday, August 6th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.31. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.74 billion. HollyFrontier had a positive return on equity of 6.41% and a negative net margin of 1.11%. The firm’s quarterly revenue was down 56.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 EPS. Analysts expect that HollyFrontier Corp will post -0.67 earnings per share for the current year.

Several research firms have commented on HFC. Mizuho decreased their target price on shares of HollyFrontier from $34.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday. Credit Suisse Group restated a “hold” rating and issued a $35.00 target price on shares of HollyFrontier in a research report on Monday, August 10th. Morgan Stanley decreased their target price on shares of HollyFrontier from $29.00 to $24.00 and set an “underweight” rating for the company in a research report on Monday, October 19th. Goldman Sachs Group upgraded shares of HollyFrontier from a “sell” rating to a “neutral” rating and set a $26.00 price objective for the company in a report on Friday, August 7th. Finally, Scotiabank decreased their price objective on shares of HollyFrontier from $40.00 to $36.00 and set a “sector outperform” rating for the company in a report on Monday, July 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $33.29.

HollyFrontier 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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Institutional Ownership by Quarter for HollyFrontier (NYSE:HFC)

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