Wealth Enhancement Advisory Services LLC Purchases 7,252 Shares of HollyFrontier Corp. (HFC)
Wealth Enhancement Advisory Services LLC raised its position in HollyFrontier Corp. (NYSE:HFC) by 24.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,132 shares of the company’s stock after buying an additional 7,252 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in HollyFrontier Corp. were worth $883,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. Kornitzer Capital Management Inc. KS increased its position in shares of HollyFrontier Corp. by 3.7% in the second quarter. Kornitzer Capital Management Inc. KS now owns 1,003,990 shares of the company’s stock worth $23,865,000 after buying an additional 35,455 shares during the last quarter. Chicago Equity Partners LLC increased its position in shares of HollyFrontier Corp. by 0.4% in the second quarter. Chicago Equity Partners LLC now owns 39,260 shares of the company’s stock worth $933,000 after buying an additional 140 shares during the last quarter. First Midwest Bank Trust Division acquired a new position in shares of HollyFrontier Corp. during the second quarter worth $206,000. Smith Graham & Co. Investment Advisors LP increased its position in shares of HollyFrontier Corp. by 27.6% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 144,330 shares of the company’s stock worth $3,431,000 after buying an additional 31,190 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in shares of HollyFrontier Corp. by 47.3% in the second quarter. Candriam Luxembourg S.C.A. now owns 40,583 shares of the company’s stock worth $965,000 after buying an additional 13,031 shares during the last quarter. Hedge funds and other institutional investors own 83.78% of the company’s stock.
HollyFrontier Corp. (NYSE:HFC) traded up 0.38% on Monday, reaching $23.66. The company had a trading volume of 1,259,973 shares. The stock’s 50 day moving average price is $24.95 and its 200-day moving average price is $27.44. HollyFrontier Corp. has a 12-month low of $22.07 and a 12-month high of $52.30. The stock’s market capitalization is $4.16 billion.
HollyFrontier Corp. (NYSE:HFC) last issued its earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.04. HollyFrontier Corp. had a positive return on equity of 8.00% and a negative net margin of 2.09%. The company earned $2.71 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the business posted $1.88 EPS. The company’s revenue for the quarter was down 26.7% compared to the same quarter last year. Equities analysts expect that HollyFrontier Corp. will post $0.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Tuesday, August 23rd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.60%. The ex-dividend date was Friday, August 19th. HollyFrontier Corp.’s dividend payout ratio is presently -93.62%.
A number of brokerages have recently weighed in on HFC. Barclays PLC restated an “overweight” rating and issued a $35.00 target price (up previously from $32.00) on shares of HollyFrontier Corp. in a research note on Monday, October 10th. Zacks Investment Research downgraded HollyFrontier Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Piper Jaffray Cos. dropped their price objective on HollyFrontier Corp. from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, September 16th. Morgan Stanley reiterated a “sell” rating and issued a $26.00 price objective on shares of HollyFrontier Corp. in a research note on Thursday, September 1st. Finally, Vetr upgraded HollyFrontier Corp. from a “hold” rating to a “buy” rating and set a $27.50 price objective on the stock in a research note on Monday, August 22nd. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price 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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