Wedbush Securities Inc. trimmed its stake in shares of HollyFrontier Corp (NYSE:HFC) by 14.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,354 shares of the oil and gas company’s stock after selling 1,261 shares during the quarter. Wedbush Securities Inc.’s holdings in HollyFrontier were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in HollyFrontier by 3.5% during the second quarter. Raymond James & Associates now owns 256,077 shares of the oil and gas company’s stock valued at $17,523,000 after purchasing an additional 8,731 shares in the last quarter. United Services Automobile Association boosted its holdings in HollyFrontier by 30.2% during the second quarter. United Services Automobile Association now owns 223,704 shares of the oil and gas company’s stock valued at $15,308,000 after purchasing an additional 51,931 shares in the last quarter. Northern Trust Corp boosted its holdings in HollyFrontier by 4.2% during the second quarter. Northern Trust Corp now owns 2,459,478 shares of the oil and gas company’s stock valued at $168,301,000 after purchasing an additional 98,605 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd boosted its holdings in shares of HollyFrontier by 149.3% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 37,399 shares of the oil and gas company’s stock worth $2,614,000 after acquiring an additional 22,399 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of HollyFrontier by 5.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,026,035 shares of the oil and gas company’s stock worth $71,722,000 after acquiring an additional 51,575 shares in the last quarter. 85.66% of the stock is currently owned by institutional investors.
Shares of HFC opened at $56.85 on Friday. The company has a market capitalization of $10.02 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.30 and a current ratio of 2.50. HollyFrontier Corp has a one year low of $42.42 and a one year high of $83.28.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 21st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Tuesday, November 20th. HollyFrontier’s dividend payout ratio (DPR) is presently 56.90%.
In related news, Director Robert J. Kostelnik sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $61.62, for a total value of $92,430.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.51% of the company’s stock.
Several research analysts have recently commented on HFC shares. US Capital Advisors downgraded HollyFrontier from an “overweight” rating to a “hold” rating in a report on Friday, September 7th. Jefferies Financial Group raised HollyFrontier from an “underperform” rating to a “hold” rating and set a $62.00 target price on the stock in a report on Tuesday, October 16th. ValuEngine downgraded HollyFrontier from a “hold” rating to a “sell” rating in a report on Tuesday, November 13th. JPMorgan Chase & Co. boosted their target price on HollyFrontier from $77.00 to $79.00 and gave the stock an “underweight” rating in a report on Wednesday, November 14th. Finally, Cowen set a $76.00 target price on HollyFrontier and gave the stock a “hold” rating in a report on Monday, December 3rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $74.62.
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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