Cambria Investment Management L.P. decreased its stake in HollyFrontier Corp (NYSE:HFC) by 25.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,182 shares of the oil and gas company’s stock after selling 1,463 shares during the quarter. Cambria Investment Management L.P.’s holdings in HollyFrontier were worth $206,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of HollyFrontier by 0.4% in the fourth quarter. BlackRock Inc. now owns 16,317,339 shares of the oil and gas company’s stock valued at $834,142,000 after purchasing an additional 69,070 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of HollyFrontier by 3,730.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,828,019 shares of the oil and gas company’s stock valued at $75,000 after purchasing an additional 3,728,093 shares during the period. APG Asset Management N.V. grew its position in shares of HollyFrontier by 5.9% in the fourth quarter. APG Asset Management N.V. now owns 2,918,377 shares of the oil and gas company’s stock valued at $130,506,000 after purchasing an additional 161,400 shares during the period. Bank of New York Mellon Corp grew its position in shares of HollyFrontier by 11.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,855,274 shares of the oil and gas company’s stock valued at $145,962,000 after purchasing an additional 302,365 shares during the period. Finally, Northern Trust Corp grew its position in shares of HollyFrontier by 17.8% in the fourth quarter. Northern Trust Corp now owns 2,807,613 shares of the oil and gas company’s stock valued at $143,525,000 after purchasing an additional 423,524 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.
NYSE:HFC opened at $41.11 on Friday. The company has a current ratio of 1.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $7.02 billion, a PE ratio of 6.38, a price-to-earnings-growth ratio of 0.95 and a beta of 1.13. HollyFrontier Corp has a twelve month low of $40.74 and a twelve month high of $83.28.
HollyFrontier (NYSE:HFC) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.18. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.69 billion. HollyFrontier had a net margin of 6.19% and a return on equity of 16.86%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.77 earnings per share. On average, research analysts anticipate that HollyFrontier Corp will post 4.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Friday, May 17th. HollyFrontier’s dividend payout ratio (DPR) is presently 20.50%.
In other news, Director Franklin Myers bought 2,900 shares of HollyFrontier stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of $42.78 per share, with a total value of $124,062.00. Following the completion of the purchase, the director now directly owns 22,489 shares of the company’s stock, valued at $962,079.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is owned by insiders.
Several brokerages have recently issued reports on HFC. Morgan Stanley set a $54.00 target price on shares of HollyFrontier and gave the company a “hold” rating in a research report on Friday, May 17th. Credit Suisse Group dropped their target price on shares of HollyFrontier from $63.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. ValuEngine downgraded shares of HollyFrontier from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 7th. Goldman Sachs Group downgraded shares of HollyFrontier from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $53.00 to $45.00 in a research note on Tuesday, April 16th. Finally, Bank of America raised 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. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $65.48.
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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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