Retirement Systems of Alabama Cuts Position in HollyFrontier Corp. (HFC)
Retirement Systems of Alabama decreased its stake in shares of HollyFrontier Corp. (NYSE:HFC) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 226,777 shares of the company’s stock after selling 837 shares during the period. Retirement Systems of Alabama’s holdings in HollyFrontier Corp. were worth $5,390,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of HollyFrontier Corp. by 11.4% in the first quarter. BlackRock Inc. now owns 265,707 shares of the company’s stock worth $9,385,000 after buying an additional 27,130 shares in the last quarter. BlackRock Group LTD boosted its position in shares of HollyFrontier Corp. by 5.5% in the first quarter. BlackRock Group LTD now owns 1,329,327 shares of the company’s stock worth $46,952,000 after buying an additional 68,896 shares in the last quarter. Investec Asset Management LTD acquired a new position in shares of HollyFrontier Corp. during the first quarter worth about $12,054,000. Aviva PLC boosted its position in shares of HollyFrontier Corp. by 0.5% in the first quarter. Aviva PLC now owns 94,334 shares of the company’s stock worth $3,332,000 after buying an additional 428 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of HollyFrontier Corp. during the first quarter worth about $273,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.
Shares of HollyFrontier Corp. (NYSE:HFC) traded down 1.62% during mid-day trading on Thursday, hitting $23.65. 3,907,321 shares of the company were exchanged. The company’s market capitalization is $4.16 billion. HollyFrontier Corp. has a 12-month low of $22.07 and a 12-month high of $52.30. The firm has a 50 day moving average of $25.09 and a 200 day moving average of $27.55.
HollyFrontier Corp. (NYSE:HFC) last released its earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.04. HollyFrontier Corp. had a negative net margin of 2.09% and a positive return on equity of 8.00%. The business earned $2.71 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The business’s revenue was down 26.7% on a year-over-year basis. Equities research analysts forecast that HollyFrontier Corp. will post $0.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Tuesday, August 23rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date was Friday, August 19th. HollyFrontier Corp.’s dividend payout ratio is presently -93.62%.
HFC has been the topic of several analyst reports. Zacks Investment Research lowered shares of HollyFrontier Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Piper Jaffray Cos. upped their target price on shares of HollyFrontier Corp. from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, August 22nd. Barclays PLC reaffirmed an “overweight” rating and issued a $35.00 target price (up previously from $32.00) on shares of HollyFrontier Corp. in a report on Monday. Vetr raised shares of HollyFrontier Corp. from a “hold” rating to a “buy” rating and set a $27.50 target price on the stock in a report on Monday, August 22nd. Finally, Deutsche Bank AG lowered shares of HollyFrontier Corp. from a “buy” rating to a “hold” rating and lowered their target price for the stock from $53.00 to $30.00 in a report on Tuesday, July 12th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $36.28.
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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