Comerica Bank Has $3.09 Million Position in HollyFrontier Corp (HFC)
Comerica Bank cut its stake in HollyFrontier Corp (NYSE:HFC) by 70.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,746 shares of the oil and gas company’s stock after selling 106,478 shares during the quarter. Comerica Bank’s holdings in HollyFrontier were worth $3,087,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its stake in HollyFrontier by 0.4% in the first quarter. BlackRock Inc. now owns 21,700,608 shares of the oil and gas company’s stock worth $1,060,291,000 after purchasing an additional 79,956 shares during the period. Northern Trust Corp increased its stake in HollyFrontier by 3.6% in the first quarter. Northern Trust Corp now owns 2,360,873 shares of the oil and gas company’s stock worth $115,351,000 after purchasing an additional 82,108 shares during the period. Great West Life Assurance Co. Can increased its stake in HollyFrontier by 5.7% in the first quarter. Great West Life Assurance Co. Can now owns 1,626,557 shares of the oil and gas company’s stock worth $79,562,000 after purchasing an additional 88,397 shares during the period. American Century Companies Inc. increased its stake in HollyFrontier by 9.0% in the first quarter. American Century Companies Inc. now owns 1,596,072 shares of the oil and gas company’s stock worth $77,984,000 after purchasing an additional 132,095 shares during the period. Finally, Millennium Management LLC increased its stake in HollyFrontier by 94.5% in the first quarter. Millennium Management LLC now owns 1,552,807 shares of the oil and gas company’s stock worth $75,870,000 after purchasing an additional 754,562 shares during the period. Institutional investors own 83.31% of the company’s stock.
A number of research firms have weighed in on HFC. Credit Suisse Group increased their target price on HollyFrontier from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, June 4th. ValuEngine lowered HollyFrontier from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 11th. Wells Fargo & Co increased their target price on HollyFrontier from $63.00 to $69.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 29th. Mizuho began coverage on HollyFrontier in a research note on Wednesday, August 1st. They issued a “neutral” rating and a $75.00 target price on the stock. Finally, Argus increased their target price on HollyFrontier to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. HollyFrontier currently has an average rating of “Hold” and a consensus price target of $62.18.
HollyFrontier (NYSE:HFC) last announced its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.18). The firm had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.14 billion. HollyFrontier had a net margin of 8.62% and a return on equity of 12.10%. The business’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 EPS. sell-side analysts predict that HollyFrontier Corp will post 5.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 20th. Stockholders of record on Thursday, August 23rd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, August 22nd. This represents a $1.32 annualized dividend and a dividend yield of 1.92%. HollyFrontier’s dividend payout ratio is currently 56.90%.
In other news, CEO George John Damiris sold 51,771 shares of the firm’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $80.67, for a total transaction of $4,176,366.57. Following the transaction, the chief executive officer now owns 181,476 shares in the company, valued at $14,639,668.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leldon E. Echols sold 13,000 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $73.35, for a total value of $953,550.00. Following the transaction, the director now owns 36,725 shares in the company, valued at approximately $2,693,778.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,771 shares of company stock worth $5,696,707. Insiders own 0.57% of the company’s stock.
HollyFrontier Company Profile
HollyFrontier Corporation operates as an independent petroleum refiner in the United States. The company operates through three segments: Refining, Lubricants and Specialty Products, and HEP. It primarily produces high-value light products, such as gasoline, diesel and jet fuel, and specialty lubricant products, as well as specialty and modified asphalt.
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