State Board of Administration of Florida Retirement System trimmed its stake in shares of HollyFrontier Corp (NYSE:HFC) by 3.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 253,307 shares of the oil and gas company’s stock after selling 7,849 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in HollyFrontier were worth $17,706,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its stake in shares of HollyFrontier by 5.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,027,670 shares of the oil and gas company’s stock worth $71,836,000 after buying an additional 53,210 shares in the last quarter. Regentatlantic Capital LLC lifted its stake in shares of HollyFrontier by 301.8% in the third quarter. Regentatlantic Capital LLC now owns 39,227 shares of the oil and gas company’s stock worth $2,742,000 after buying an additional 29,463 shares in the last quarter. Greenleaf Trust purchased a new position in shares of HollyFrontier in the third quarter worth about $470,000. Adams Natural Resources Fund Inc. purchased a new position in shares of HollyFrontier in the third quarter worth about $3,516,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of HollyFrontier by 836.0% in the third quarter. Assenagon Asset Management S.A. now owns 286,693 shares of the oil and gas company’s stock worth $20,040,000 after buying an additional 256,065 shares in the last quarter. 87.65% of the stock is currently owned by institutional investors and hedge funds.
HFC has been the topic of several research reports. Jefferies Financial Group raised shares of HollyFrontier from an “underperform” rating to a “hold” rating and set a $62.00 price target on the stock in a research note on Tuesday, October 16th. US Capital Advisors upgraded shares of HollyFrontier from a “hold” rating to an “overweight” rating in a research report on Monday, October 15th. Morgan Stanley raised their price objective on shares of HollyFrontier from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Monday, July 16th. Zacks Investment Research upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Thursday, July 19th. Finally, Mizuho initiated coverage on shares of HollyFrontier in a research report on Wednesday, August 1st. They set a “neutral” rating and a $75.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $71.38.
HollyFrontier (NYSE:HFC) last released its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported $1.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.32. HollyFrontier had a net margin of 8.51% and a return on equity of 13.94%. The firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same period last year, the business earned $1.14 earnings per share. HollyFrontier’s revenue was up 28.3% compared to the same quarter last year. As a group, equities research analysts predict that HollyFrontier Corp will post 5.72 earnings per share for the current year.
The company 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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Tuesday, November 20th. HollyFrontier’s payout ratio is currently 56.90%.
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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