Icon Advisers Inc. Co. Has $3.31 Million Holdings in HollyFrontier Corp (HFC)
Icon Advisers Inc. Co. lessened its holdings in shares of HollyFrontier Corp (NYSE:HFC) by 65.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,600 shares of the oil and gas company’s stock after selling 123,300 shares during the period. Icon Advisers Inc. Co.’s holdings in HollyFrontier were worth $3,309,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in HFC. Toronto Dominion Bank grew its position in shares of HollyFrontier by 6.3% during the 2nd quarter. Toronto Dominion Bank now owns 3,994 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 235 shares in the last quarter. Sandy Spring Bank acquired a new position in shares of HollyFrontier during the 4th quarter worth approximately $114,000. FNY Managed Accounts LLC acquired a new position in shares of HollyFrontier during the 3rd quarter worth approximately $163,000. Garrison Financial Corp acquired a new position in shares of HollyFrontier during the 4th quarter worth approximately $203,000. Finally, Peregrine Asset Advisers Inc. acquired a new position in shares of HollyFrontier during the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.
A number of research analysts have issued reports on the stock. Piper Jaffray Companies restated a “hold” rating and set a $38.00 target price on shares of HollyFrontier in a research report on Friday, November 17th. Macquarie restated an “underperform” rating on shares of HollyFrontier in a research report on Monday, October 23rd. Barclays increased their target price on shares of HollyFrontier from $47.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 14th. Argus upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Monday, November 20th. Finally, Goldman Sachs Group upgraded shares of HollyFrontier from a “sell” rating to a “neutral” rating and set a $26.00 target price on the stock in a research report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $43.33.
In related news, SVP James M. Stump sold 30,000 shares of the stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $51.21, for a total value of $1,536,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James H. Lee sold 5,149 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $47.17, for a total transaction of $242,878.33. Following the completion of the transaction, the director now directly owns 52,240 shares of the company’s stock, valued at approximately $2,464,160.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,649 shares of company stock valued at $3,515,728. 0.51% of the stock is currently owned by insiders.
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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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