Freestone Capital Holdings LLC Buys Shares of 116,225 HollyFrontier Corp (NYSE:HFC)
Freestone Capital Holdings LLC bought a new stake in HollyFrontier Corp (NYSE:HFC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 116,225 shares of the oil and gas company’s stock, valued at approximately $5,379,000. Freestone Capital Holdings LLC owned 0.07% of HollyFrontier as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in HFC. AQR Capital Management LLC increased its holdings in HollyFrontier by 17.5% in the 1st quarter. AQR Capital Management LLC now owns 11,776,317 shares of the oil and gas company’s stock valued at $580,219,000 after buying an additional 1,753,888 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of HollyFrontier by 388.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 440,000 shares of the oil and gas company’s stock valued at $20,363,000 after purchasing an additional 350,000 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in shares of HollyFrontier by 710.6% in the 1st quarter. State of Wisconsin Investment Board now owns 380,692 shares of the oil and gas company’s stock valued at $18,757,000 after purchasing an additional 333,728 shares in the last quarter. LSV Asset Management boosted its stake in shares of HollyFrontier by 24.9% in the 1st quarter. LSV Asset Management now owns 1,475,057 shares of the oil and gas company’s stock valued at $72,676,000 after purchasing an additional 294,020 shares in the last quarter. Finally, Todd Asset Management LLC acquired a new stake in shares of HollyFrontier in the 1st quarter valued at approximately $12,988,000. 86.32% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on HFC shares. ValuEngine downgraded shares of HollyFrontier from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Bank of America upgraded shares of HollyFrontier from an “underperform” rating to a “neutral” rating and set a $48.70 price target on the stock in a research note on Monday, April 29th. Finally, Morgan Stanley set a $54.00 price target on shares of HollyFrontier and gave the company a “hold” rating in a research note on Friday, May 17th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.41.
HollyFrontier (NYSE:HFC) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.51. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.31 billion. HollyFrontier had a net margin of 5.25% and a return on equity of 18.51%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 EPS. As a group, analysts forecast that HollyFrontier Corp will post 4.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 22nd will be paid a $0.33 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.32 annualized dividend and a dividend yield of 2.87%. HollyFrontier’s dividend payout ratio is currently 20.50%.
In related news, Director Franklin Myers acquired 2,500 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $49.72 per share, for a total transaction of $124,300.00. Following the purchase, the director now directly owns 24,989 shares of the company’s stock, valued at approximately $1,242,453.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.49% 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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