Teacher Retirement System of Texas Raises Stake in HollyFrontier Corp. (HFC)
Teacher Retirement System of Texas boosted its stake in HollyFrontier Corp. (NYSE:HFC) by 6.4% during the second quarter, Holdings Channel reports. The firm owned 135,910 shares of the company’s stock after buying an additional 8,128 shares during the period. Teacher Retirement System of Texas owned 0.08% of HollyFrontier Corp. worth $3,231,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in HFC. Norges Bank purchased a new stake in HollyFrontier Corp. during the fourth quarter valued at $72,127,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in HollyFrontier Corp. by 8.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 55,578 shares of the company’s stock valued at $1,963,000 after buying an additional 4,109 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in HollyFrontier Corp. by 49.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,880 shares of the company’s stock valued at $1,030,000 after buying an additional 9,868 shares during the period. PGGM Investments boosted its stake in HollyFrontier Corp. by 2.5% in the first quarter. PGGM Investments now owns 129,460 shares of the company’s stock valued at $4,573,000 after buying an additional 3,138 shares during the period. Finally, Douglas Lane & Associates LLC purchased a new stake in HollyFrontier Corp. during the first quarter valued at $26,588,000. Institutional investors own 83.83% of the company’s stock.
HollyFrontier Corp. (NYSE:HFC) traded down 1.41% during midday trading on Wednesday, reaching $24.44. The company had a trading volume of 1,537,397 shares. The company has a 50-day moving average of $26.02 and a 200-day moving average of $28.73. The stock’s market capitalization is $4.30 billion. HollyFrontier Corp. has a 12-month low of $22.07 and a 12-month high of $52.30.
HollyFrontier Corp. (NYSE:HFC) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.35 billion. HollyFrontier Corp. had a negative net margin of 2.09% and a positive return on equity of 8.00%. The firm’s revenue was down 26.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.88 EPS. On average, analysts predict that HollyFrontier Corp. will post $0.80 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Tuesday, August 23rd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date is Friday, August 19th. HollyFrontier Corp.’s dividend payout ratio (DPR) is presently -93.62%.
HFC has been the topic of several research reports. Zacks Investment Research upgraded HollyFrontier Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. JPMorgan Chase & Co. reduced their target price on HollyFrontier Corp. from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, June 10th. Morgan Stanley cut HollyFrontier Corp. from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $41.00 to $26.00 in a report on Friday, June 17th. Wolfe Research cut HollyFrontier Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, June 20th. Finally, Simmons reiterated a “neutral” rating and issued a $24.00 target price (down from $26.00) on shares of HollyFrontier Corp. in a report on Wednesday, June 29th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. HollyFrontier Corp. presently has an average rating of “Hold” and an average target price of $36.09.
About HollyFrontier Corp.
HollyFrontier Corporation (HollyFrontier) is an independent petroleum refiner. The Company produces various refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. The Company operates through two segments: Refining and Holly Energy Partners, L.P.
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