Engineers Gate Manager LP Has $425,000 Stake in HollyFrontier Corp (NYSE:HFC)
Engineers Gate Manager LP decreased its stake in HollyFrontier Corp (NYSE:HFC) by 73.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,350 shares of the oil and gas company’s stock after selling 47,071 shares during the quarter. Engineers Gate Manager LP’s holdings in HollyFrontier were worth $425,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in HFC. Amundi Pioneer Asset Management Inc. boosted its stake in HollyFrontier by 29.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 176,725 shares of the oil and gas company’s stock valued at $8,707,000 after buying an additional 39,889 shares in the last quarter. First Allied Advisory Services Inc. acquired a new stake in HollyFrontier in the 4th quarter valued at $222,000. Banque Cantonale Vaudoise acquired a new stake in HollyFrontier in the 4th quarter valued at $170,000. Assetmark Inc. boosted its stake in HollyFrontier by 76.7% in the 4th quarter. Assetmark Inc. now owns 606 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 263 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in HollyFrontier by 63.7% in the 4th quarter. Korea Investment CORP now owns 258,000 shares of the oil and gas company’s stock valued at $13,083,000 after buying an additional 100,400 shares in the last quarter. 82.65% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on HFC. Royal Bank of Canada decreased their price target on HollyFrontier from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Credit Suisse Group boosted their price objective on HollyFrontier from $33.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Goldman Sachs Group lowered HollyFrontier from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $33.00 to $28.00 in a research note on Thursday, June 11th. Morgan Stanley boosted their price objective on HollyFrontier from $30.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 13th. Finally, Tudor Pickering raised HollyFrontier from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.92.
HollyFrontier (NYSE:HFC) last released its earnings results on Thursday, May 7th. The oil and gas company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.12. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.74 billion. HollyFrontier had a return on equity of 12.69% and a net margin of 1.26%. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share. As a group, equities research analysts anticipate that HollyFrontier Corp will post -0.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Tuesday, May 26th were given a dividend of $0.35 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.92%. HollyFrontier’s payout ratio is currently 28.57%.
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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