MetLife Investment Advisors LLC purchased a new position in shares of HollyFrontier Corp (NYSE:HFC) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 112,166 shares of the oil and gas company’s stock, valued at approximately $5,745,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sandy Spring Bank purchased a new position in HollyFrontier during the 4th quarter worth approximately $114,000. NuWave Investment Management LLC purchased a new position in HollyFrontier during the 4th quarter worth approximately $133,000. Garrison Financial Corp purchased a new position in HollyFrontier during the 4th quarter worth approximately $203,000. Peregrine Asset Advisers Inc. purchased a new position in HollyFrontier during the 4th quarter worth approximately $205,000. Finally, Lourd Capital LLC purchased a new position in HollyFrontier during the 4th quarter worth approximately $207,000. 86.02% of the stock is owned by institutional investors.
A number of research firms have issued reports on HFC. Barclays reissued a “buy” rating and set a $65.00 price target on shares of HollyFrontier in a research report on Wednesday, January 10th. Tudor Pickering lowered shares of HollyFrontier from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Zacks Investment Research lowered shares of HollyFrontier from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Cowen reissued a “market perform” rating and set a $38.00 price target (up from $35.00) on shares of HollyFrontier in a research report on Friday, December 8th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $46.00 target price (down from $48.00) on shares of HollyFrontier in a report on Tuesday, March 13th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.94.
HollyFrontier (NYSE:HFC) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.12). The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.85 billion. HollyFrontier had a return on equity of 7.51% and a net margin of 5.65%. HollyFrontier’s revenue was up 35.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. sell-side analysts anticipate that HollyFrontier Corp will post 3.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 14th. Investors of record on Wednesday, February 28th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.76%. The ex-dividend date was Tuesday, February 27th. HollyFrontier’s payout ratio is presently 29.20%.
In related news, SVP James M. Stump sold 30,000 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $51.21, for a total value of $1,536,300.00. Following the completion of the sale, the senior vice president now owns 41,849 shares of the company’s stock, valued at approximately $2,143,087.29. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.51% of the stock is currently owned by insiders.
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HollyFrontier Corporation is an independent petroleum refiner. The Company produces various light products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. It segments include Refining and Holly Energy Partners, L.P. (HEP). The Refining segment includes the operations of the Company’s El Dorado, Kansas (the El Dorado Refinery); refinery facilities located in Tulsa, Oklahoma (collectively, the Tulsa Refineries); a refinery in Artesia, New Mexico that is operated in conjunction with crude oil distillation and vacuum distillation and other facilities situated 65 miles away in Lovington, New Mexico (collectively, the Navajo Refinery); refinery located in Cheyenne, Wyoming (the Cheyenne Refinery); a refinery in Woods Cross, Utah (the Woods Cross Refinery), and HollyFrontier Asphalt Company (HFC Asphalt).
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