HollyFrontier Corp (HFC) Position Boosted by Empowered Funds LLC
Empowered Funds LLC increased its position in shares of HollyFrontier Corp (NYSE:HFC) by 208.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,541 shares of the oil and gas company’s stock after purchasing an additional 43,614 shares during the quarter. HollyFrontier accounts for about 1.3% of Empowered Funds LLC’s investment portfolio, making the stock its 6th largest holding. Empowered Funds LLC’s holdings in HollyFrontier were worth $4,503,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in HFC. World Asset Management Inc lifted its stake in HollyFrontier by 5.6% in the second quarter. World Asset Management Inc now owns 14,311 shares of the oil and gas company’s stock valued at $979,000 after buying an additional 756 shares during the last quarter. BB&T Corp lifted its stake in HollyFrontier by 2.6% in the third quarter. BB&T Corp now owns 30,388 shares of the oil and gas company’s stock valued at $2,124,000 after buying an additional 776 shares during the last quarter. Suntrust Banks Inc. lifted its stake in HollyFrontier by 1.8% in the first quarter. Suntrust Banks Inc. now owns 58,217 shares of the oil and gas company’s stock valued at $2,843,000 after buying an additional 1,004 shares during the last quarter. Dorsey Wright & Associates lifted its stake in HollyFrontier by 1.3% in the second quarter. Dorsey Wright & Associates now owns 85,032 shares of the oil and gas company’s stock valued at $5,819,000 after buying an additional 1,070 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in HollyFrontier by 13.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,377 shares of the oil and gas company’s stock valued at $778,000 after buying an additional 1,381 shares during the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.
HFC has been the topic of a number of recent research reports. Zacks Investment Research upgraded HollyFrontier from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Thursday, July 19th. ValuEngine cut HollyFrontier from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Royal Bank of Canada reiterated a “buy” rating and issued a $70.00 target price on shares of HollyFrontier in a research note on Friday, August 3rd. US Capital Advisors cut HollyFrontier from an “overweight” rating to a “hold” rating in a research note on Friday, September 7th. Finally, Morgan Stanley raised their target price on HollyFrontier from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. HollyFrontier presently has an average rating of “Hold” and an average target price of $65.00.
HollyFrontier (NYSE:HFC) last released its earnings results on Thursday, August 2nd. The oil and gas company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.18). The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.14 billion. HollyFrontier had a return on equity of 12.10% and a net margin of 8.62%. HollyFrontier’s revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. On average, sell-side analysts anticipate that HollyFrontier Corp will post 5.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 20th. Investors of record on Thursday, August 23rd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 22nd. HollyFrontier’s payout ratio is currently 56.90%.
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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