Empirical Finance LLC Invests $1.45 Million in HollyFrontier Corp (HFC) Stock

Empirical Finance LLC bought a new position in HollyFrontier Corp (NYSE:HFC) in the third quarter, Holdings Channel reports. The institutional investor bought 20,671 shares of the oil and gas company’s stock, valued at approximately $1,445,000.

A number of other institutional investors have also recently made changes to their positions in HFC. World Asset Management Inc increased its holdings in shares of HollyFrontier by 5.6% during 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 acquiring an additional 756 shares in the last quarter. BB&T Corp increased its holdings in shares of HollyFrontier by 2.6% during 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 acquiring an additional 776 shares in the last quarter. Suntrust Banks Inc. increased its holdings in shares of HollyFrontier by 1.8% during 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 acquiring an additional 1,004 shares in the last quarter. Dorsey Wright & Associates increased its holdings in shares of HollyFrontier by 1.3% during 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 acquiring an additional 1,070 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of HollyFrontier by 13.8% during 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 acquiring an additional 1,381 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Shares of NYSE HFC opened at $67.95 on Friday. The company has a market capitalization of $11.77 billion, a P/E ratio of 16.45, a PEG ratio of 1.27 and a beta of 1.16. HollyFrontier Corp has a 52 week low of $35.49 and a 52 week high of $83.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.21 and a current ratio of 2.38.

HollyFrontier (NYSE:HFC) last issued its earnings results on Thursday, August 2nd. The oil and gas company reported $1.45 EPS for the quarter, missing the Zacks’ consensus estimate of $1.63 by ($0.18). The firm had revenue of $4.47 billion during 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%. HollyFrontier’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. Sell-side analysts predict that HollyFrontier Corp will post 5.24 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 given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, August 22nd. This represents a $1.32 dividend on an annualized basis and a yield of 1.94%. HollyFrontier’s dividend payout ratio is currently 56.90%.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Thursday, July 19th. ValuEngine downgraded shares of HollyFrontier from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Mizuho assumed coverage on shares of HollyFrontier in a report on Wednesday, August 1st. They set a “neutral” rating and a $75.00 price objective on the stock. Morgan Stanley upped their price objective on shares of HollyFrontier from $75.00 to $82.00 and gave the company a “hold” rating in a report on Monday, July 16th. Finally, Jefferies Financial Group upgraded shares of HollyFrontier from an “underperform” rating to a “hold” rating and set a $62.00 price objective on the stock in a report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. HollyFrontier presently has an average rating of “Hold” and a consensus target price of $65.00.

HollyFrontier 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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Institutional Ownership by Quarter for HollyFrontier (NYSE:HFC)

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