New Jersey Better Educational Savings Trust reduced its stake in HollyFrontier Corporation (NYSE:HFC) by 16.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the oil and gas company’s stock after selling 3,000 shares during the period. New Jersey Better Educational Savings Trust’s holdings in HollyFrontier Corporation were worth $412,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HFC. First Mercantile Trust Co. increased its stake in shares of HollyFrontier Corporation by 5,539.1% in the first quarter. First Mercantile Trust Co. now owns 6,485 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 6,370 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of HollyFrontier Corporation by 5.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,472 shares of the oil and gas company’s stock valued at $118,000 after buying an additional 236 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of HollyFrontier Corporation by 3.7% in the first quarter. Nationwide Fund Advisors now owns 567,424 shares of the oil and gas company’s stock valued at $16,081,000 after buying an additional 19,991 shares during the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of HollyFrontier Corporation by 12.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 45,687 shares of the oil and gas company’s stock valued at $1,295,000 after buying an additional 5,237 shares during the last quarter. Finally, Douglas Lane & Associates LLC increased its stake in shares of HollyFrontier Corporation by 1.9% in the first quarter. Douglas Lane & Associates LLC now owns 1,555,111 shares of the oil and gas company’s stock valued at $44,072,000 after buying an additional 29,124 shares during the last quarter. 84.94% of the stock is owned by institutional investors and hedge funds.

Shares of HollyFrontier Corporation (NYSE HFC) opened at 28.43 on Friday. The stock has a market capitalization of $4.99 billion, a PE ratio of 36.08 and a beta of 1.24. The stock has a 50 day moving average price of $28.06 and a 200-day moving average price of $27.68. HollyFrontier Corporation has a 1-year low of $22.63 and a 1-year high of $34.78.

HollyFrontier Corporation (NYSE:HFC) last issued its earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.20. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.24 billion. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. HollyFrontier Corporation’s revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. On average, analysts forecast that HollyFrontier Corporation will post $1.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Monday, August 21st. HollyFrontier Corporation’s payout ratio is 167.09%.

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Several analysts have weighed in on the company. BidaskClub upgraded HollyFrontier Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Barclays PLC reiterated an “overweight” rating and issued a $39.00 price objective (up previously from $37.00) on shares of HollyFrontier Corporation in a research report on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $38.00 price objective (up previously from $36.00) on shares of HollyFrontier Corporation in a research report on Wednesday. Scotiabank upgraded HollyFrontier Corporation from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded HollyFrontier Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $30.32.

About HollyFrontier Corporation

HollyFrontier Corporation is an independent petroleum refiner. The Company produces various light products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. It segments include Refining and Holly Energy Partners, L.P. (HEP). The Refining segment includes the operations of the Company’s El Dorado, Kansas (the El Dorado Refinery); refinery facilities located in Tulsa, Oklahoma (collectively, the Tulsa Refineries); a refinery in Artesia, New Mexico that is operated in conjunction with crude oil distillation and vacuum distillation and other facilities situated 65 miles away in Lovington, New Mexico (collectively, the Navajo Refinery); refinery located in Cheyenne, Wyoming (the Cheyenne Refinery); a refinery in Woods Cross, Utah (the Woods Cross Refinery), and HollyFrontier Asphalt Company (HFC Asphalt).

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

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