HollyFrontier Corporation (HFC) Position Raised by Lazard Asset Management LLC
Lazard Asset Management LLC increased its position in shares of HollyFrontier Corporation (NYSE:HFC) by 51.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 467,147 shares of the oil and gas company’s stock after purchasing an additional 158,965 shares during the period. Lazard Asset Management LLC owned 0.26% of HollyFrontier Corporation worth $12,832,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in HFC. BlackRock Inc. increased its position in HollyFrontier Corporation by 7,017.5% during the first quarter. BlackRock Inc. now owns 21,293,640 shares of the oil and gas company’s stock worth $603,462,000 after purchasing an additional 20,994,466 shares during the last quarter. Principal Financial Group Inc. increased its position in HollyFrontier Corporation by 129.6% during the second quarter. Principal Financial Group Inc. now owns 4,204,355 shares of the oil and gas company’s stock worth $115,495,000 after purchasing an additional 2,373,560 shares during the last quarter. Alliancebernstein L.P. increased its position in HollyFrontier Corporation by 130.5% during the first quarter. Alliancebernstein L.P. now owns 3,475,785 shares of the oil and gas company’s stock worth $98,504,000 after purchasing an additional 1,967,907 shares during the last quarter. Dimensional Fund Advisors LP increased its position in HollyFrontier Corporation by 57.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,295,800 shares of the oil and gas company’s stock worth $150,077,000 after purchasing an additional 1,926,908 shares during the last quarter. Finally, Kempen Capital Management N.V. acquired a new stake in HollyFrontier Corporation during the second quarter worth about $24,366,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Several equities research analysts recently issued reports on HFC shares. BidaskClub upgraded shares of HollyFrontier Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Royal Bank Of Canada restated a “buy” rating and set a $38.00 price objective on shares of HollyFrontier Corporation in a research report on Friday, September 8th. Zacks Investment Research cut shares of HollyFrontier Corporation from a “hold” rating to a “sell” rating in a research report on Monday, June 5th. Scotiabank set a $29.00 price objective on shares of HollyFrontier Corporation and gave the stock a “hold” rating in a research report on Monday, June 26th. Finally, Simmons restated a “neutral” rating and set a $25.00 price objective (down from $27.00) on shares of HollyFrontier Corporation in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, eight have assigned 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 target price of $31.72.
HollyFrontier Corporation (HFC) opened at 34.24 on Friday. HollyFrontier Corporation has a 52 week low of $22.63 and a 52 week high of $34.78. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 43.45 and a beta of 1.21. The firm’s 50-day moving average is $30.42 and its 200 day moving average is $27.91.
HollyFrontier Corporation (NYSE:HFC) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the company posted $0.28 EPS. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. On average, equities research analysts expect that HollyFrontier Corporation will post $1.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend was Monday, August 21st. HollyFrontier Corporation’s dividend payout ratio is currently 167.09%.
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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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