Millennium Management LLC Raises Stock Holdings in HollyFrontier Corp (NYSE:HFC)

Millennium Management LLC lifted its holdings in HollyFrontier Corp (NYSE:HFC) by 2,141.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 134,492 shares of the oil and gas company’s stock after buying an additional 128,492 shares during the quarter. Millennium Management LLC owned approximately 0.08% of HollyFrontier worth $7,214,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Cornerstone Advisors Inc. grew its holdings in shares of HollyFrontier by 66.5% in the third quarter. Cornerstone Advisors Inc. now owns 526 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 210 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in HollyFrontier by 1.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,562 shares of the oil and gas company’s stock valued at $953,000 after buying an additional 237 shares in the last quarter. Cypress Capital Group lifted its holdings in HollyFrontier by 5.0% during the 3rd quarter. Cypress Capital Group now owns 5,104 shares of the oil and gas company’s stock valued at $274,000 after buying an additional 242 shares in the last quarter. PFG Advisors boosted its position in HollyFrontier by 4.1% in the 3rd quarter. PFG Advisors now owns 7,172 shares of the oil and gas company’s stock valued at $375,000 after buying an additional 285 shares during the period. Finally, BB&T Corp boosted its position in HollyFrontier by 1.5% in the 3rd quarter. BB&T Corp now owns 21,303 shares of the oil and gas company’s stock valued at $1,143,000 after buying an additional 310 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

NYSE HFC opened at $49.41 on Tuesday. HollyFrontier Corp has a one year low of $37.73 and a one year high of $58.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.11 and a current ratio of 2.07. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 0.99 and a beta of 1.45. The company’s 50-day simple moving average is $53.67 and its two-hundred day simple moving average is $48.83.

HollyFrontier (NYSE:HFC) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.25. HollyFrontier had a net margin of 4.89% and a return on equity of 17.42%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the prior year, the company earned $1.98 EPS. The company’s revenue was down 7.3% compared to the same quarter last year. Equities analysts expect that HollyFrontier Corp will post 5.04 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, November 26th. This is an increase from HollyFrontier’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.83%. HollyFrontier’s dividend payout ratio (DPR) is currently 21.74%.

A number of equities analysts have recently commented on HFC shares. JPMorgan Chase & Co. reduced their target price on shares of HollyFrontier from $55.00 to $50.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. ValuEngine lowered HollyFrontier from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Zacks Investment Research upgraded HollyFrontier from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Co increased their price objective on HollyFrontier from $48.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $56.77.

In other HollyFrontier news, CAO John W. Gann, Jr. sold 7,052 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $52.58, for a total transaction of $370,794.16. Following the completion of the sale, the chief accounting officer now owns 26,136 shares in the company, valued at $1,374,230.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Thomas G. Creery sold 5,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $57.50, for a total value of $287,500.00. Following the sale, the senior vice president now owns 90,004 shares of the company’s stock, valued at approximately $5,175,230. The disclosure for this sale can be found here. Company 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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Institutional Ownership by Quarter for HollyFrontier (NYSE:HFC)

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