Connor Clark & Lunn Investment Management Ltd. lessened its stake in HollyFrontier Corp (NYSE:HFC) by 41.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,525 shares of the oil and gas company’s stock after selling 31,207 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in HollyFrontier were worth $2,061,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HFC. Mercer Global Advisors Inc. ADV bought a new stake in shares of HollyFrontier in the 1st quarter valued at approximately $452,000. LS Investment Advisors LLC grew its stake in shares of HollyFrontier by 8.8% in the 1st quarter. LS Investment Advisors LLC now owns 8,610 shares of the oil and gas company’s stock valued at $424,000 after buying an additional 694 shares in the last quarter. Bank of Montreal Can grew its stake in shares of HollyFrontier by 55.8% in the 1st quarter. Bank of Montreal Can now owns 240,731 shares of the oil and gas company’s stock valued at $11,862,000 after buying an additional 86,192 shares in the last quarter. World Asset Management Inc grew its stake in shares of HollyFrontier by 18.9% in the 1st quarter. World Asset Management Inc now owns 13,913 shares of the oil and gas company’s stock valued at $685,000 after buying an additional 2,207 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of HollyFrontier by 6.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,831 shares of the oil and gas company’s stock valued at $337,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 86.32% of the company’s stock.
In related news, Director Franklin Myers bought 2,500 shares of HollyFrontier stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $49.72 per share, for a total transaction of $124,300.00. Following the acquisition, the director now owns 24,989 shares in the company, valued at $1,242,453.08. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.49% of the stock is currently owned by insiders.
Several equities research analysts recently commented on the company. Morgan Stanley set a $54.00 price target on HollyFrontier and gave the company a “hold” rating in a research note on Friday, May 17th. ValuEngine cut HollyFrontier from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. HollyFrontier currently has an average rating of “Hold” and an average target price of $62.41.
HFC traded up $1.02 on Friday, hitting $48.64. The company had a trading volume of 2,329,199 shares, compared to its average volume of 2,075,421. The company’s fifty day moving average price is $47.19 and its 200 day moving average price is $47.02. HollyFrontier Corp has a 1-year low of $37.73 and a 1-year high of $72.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.08 and a quick ratio of 1.10. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 0.97 and a beta of 1.46.
HollyFrontier (NYSE:HFC) last posted its earnings results on Thursday, August 1st. The oil and gas company reported $2.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.51. HollyFrontier had a return on equity of 18.51% and a net margin of 5.25%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the company earned $1.45 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts forecast that HollyFrontier Corp will post 4.78 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 22nd were issued a $0.33 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $1.32 annualized dividend and a yield of 2.71%. HollyFrontier’s dividend payout ratio (DPR) is currently 20.50%.
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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