HollyFrontier Corporation (HFC) Stake Raised by Arizona State Retirement System
Arizona State Retirement System raised its position in HollyFrontier Corporation (NYSE:HFC) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,800 shares of the oil and gas company’s stock after buying an additional 1,000 shares during the period. Arizona State Retirement System’s holdings in HollyFrontier Corporation were worth $2,055,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Toronto Dominion Bank raised its position in HollyFrontier Corporation by 11.3% in the first quarter. Toronto Dominion Bank now owns 3,759 shares of the oil and gas company’s stock worth $107,000 after buying an additional 382 shares during the last quarter. AT Bancorp acquired a new position in HollyFrontier Corporation during the second quarter worth approximately $104,000. Mn Services Vermogensbeheer B.V. raised its position in HollyFrontier Corporation by 5.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,472 shares of the oil and gas company’s stock worth $118,000 after buying an additional 236 shares during the last quarter. IFP Advisors Inc raised its position in HollyFrontier Corporation by 304.6% in the second quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock worth $134,000 after buying an additional 3,674 shares during the last quarter. Finally, First Mercantile Trust Co. raised its position in HollyFrontier Corporation by 5,539.1% in the first quarter. First Mercantile Trust Co. now owns 6,485 shares of the oil and gas company’s stock worth $184,000 after buying an additional 6,370 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.
Shares of HollyFrontier Corporation (HFC) opened at 27.53 on Tuesday. The company’s 50-day moving average price is $28.19 and its 200-day moving average price is $27.59. The firm has a market capitalization of $4.83 billion, a P/E ratio of 34.94 and a beta of 1.24. HollyFrontier Corporation has a 52-week low of $22.63 and a 52-week high of $34.78.
HollyFrontier Corporation (NYSE:HFC) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.24 billion. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The business’s revenue was up 27.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. On average, equities research analysts expect that HollyFrontier Corporation will post $1.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.32 annualized dividend and a yield of 4.79%. HollyFrontier Corporation’s dividend payout ratio is currently 167.09%.
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A number of equities analysts have recently commented on the company. Barclays PLC reiterated an “overweight” rating and issued a $39.00 price objective (up from $37.00) on shares of HollyFrontier Corporation in a research note on Wednesday, August 9th. BidaskClub upgraded HollyFrontier Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $38.00 price objective (up from $36.00) on shares of HollyFrontier Corporation in a research note on Wednesday, August 9th. Scotiabank upgraded HollyFrontier Corporation from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Simmons reiterated a “neutral” rating and issued a $25.00 price objective (down from $27.00) on shares of HollyFrontier Corporation in a research note on Wednesday, July 12th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.32.
HollyFrontier Corporation Company Profile
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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