WealthTrust Axiom LLC bought a new stake in shares of HollyFrontier Corp (NYSE:HFC) in the third quarter, Holdings Channel.com reports. The fund bought 4,208 shares of the oil and gas company’s stock, valued at approximately $225,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. lifted its stake in HollyFrontier by 29.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 176,725 shares of the oil and gas company’s stock worth $8,707,000 after acquiring an additional 39,889 shares during the period. Empowered Funds LLC raised its holdings in HollyFrontier by 10.9% in the second quarter. Empowered Funds LLC now owns 54,749 shares of the oil and gas company’s stock worth $2,534,000 after purchasing an additional 5,388 shares in the last quarter. Supplemental Annuity Collective Trust of NJ bought a new position in HollyFrontier in the second quarter worth about $555,000. New Jersey Better Educational Savings Trust bought a new position in HollyFrontier in the second quarter worth about $370,000. Finally, Exane Derivatives bought a new position in HollyFrontier in the second quarter worth about $3,711,000. 84.16% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Thomas G. Creery sold 5,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $57.50, for a total transaction of $287,500.00. Following the transaction, the senior vice president now owns 90,004 shares in the company, valued at $5,175,230. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.49% of the company’s stock.
HollyFrontier (NYSE:HFC) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $1.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the prior year, the company posted $1.98 earnings per share. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that HollyFrontier Corp will post 5.02 EPS for the current fiscal year.
A number of equities analysts have commented on the stock. Wells Fargo & Co boosted their target price on shares of HollyFrontier from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. reduced their target price on shares of HollyFrontier from $55.00 to $50.00 and set an “underweight” rating for the company in a report on Tuesday, September 10th. ValuEngine upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Zacks Investment Research upgraded shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $58.52.
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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