Rhumbline Advisers Buys 52,762 Shares of HollyFrontier Corp (NYSE:HFC)

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Rhumbline Advisers boosted its stake in shares of HollyFrontier Corp (NYSE:HFC) by 18.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 342,725 shares of the oil and gas company’s stock after buying an additional 52,762 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of HollyFrontier worth $8,400,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Americana Partners LLC bought a new position in HollyFrontier during the fourth quarter worth about $25,000. Assetmark Inc. raised its stake in shares of HollyFrontier by 76.7% during the fourth quarter. Assetmark Inc. now owns 606 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 263 shares in the last quarter. Smith Asset Management Group LP purchased a new position in shares of HollyFrontier during the fourth quarter worth approximately $31,000. Verus Capital Partners LLC purchased a new position in shares of HollyFrontier in the fourth quarter worth $38,000. Finally, Liberty Wealth Management LLC increased its stake in shares of HollyFrontier by 652.5% in the fourth quarter. Liberty Wealth Management LLC now owns 760 shares of the oil and gas company’s stock worth $38,000 after buying an additional 659 shares during the period. Hedge funds and other institutional investors own 85.02% of the company’s stock.

NYSE HFC opened at $30.99 on Friday. The stock’s fifty day moving average is $27.80 and its two-hundred day moving average is $39.70. The firm has a market capitalization of $5.02 billion, a P/E ratio of 6.36 and a beta of 1.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 1.92. HollyFrontier Corp has a fifty-two week low of $18.48 and a fifty-two week high of $58.88.

HollyFrontier (NYSE:HFC) last released its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.12. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.74 billion. HollyFrontier had a return on equity of 12.69% and a net margin of 1.26%. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. As a group, sell-side analysts forecast that HollyFrontier Corp will post 0.09 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Tuesday, May 26th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 4.52%. HollyFrontier’s dividend payout ratio is currently 28.57%.

A number of analysts have recently commented on the stock. Wolfe Research upgraded shares of HollyFrontier from a “market perform” rating to an “outperform” rating in a report on Friday, March 27th. Zacks Investment Research downgraded HollyFrontier from a “hold” rating to a “strong sell” rating and set a $36.00 price objective for the company. in a research note on Wednesday, February 19th. Piper Sandler upgraded HollyFrontier from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $64.00 to $53.00 in a research report on Friday, February 28th. Jefferies Financial Group upgraded HollyFrontier from a “hold” rating to a “buy” rating and decreased their price target for the company from $51.00 to $41.00 in a report on Thursday, March 26th. Finally, Wells Fargo & Co reduced their target price on HollyFrontier from $50.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $39.18.

In other HollyFrontier news, CFO Richard Lawrence Voliva III bought 10,000 shares of HollyFrontier stock in a transaction on Wednesday, March 11th. The shares were bought at an average price of $21.54 per share, for a total transaction of $215,400.00. Following the completion of the transaction, the chief financial officer now directly owns 76,415 shares of the company’s stock, valued at $1,645,979.10. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.44% of the stock is owned by insiders.

HollyFrontier 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.

Further Reading: Earnings Per Share (EPS)

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Institutional Ownership by Quarter for HollyFrontier (NYSE:HFC)

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