Assetmark Inc. Lowers Position in HollyFrontier Corporation (HFC)
Assetmark Inc. decreased its position in HollyFrontier Corporation (NYSE:HFC) by 30.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,860 shares of the oil and gas company’s stock after selling 1,223 shares during the period. Assetmark Inc.’s holdings in HollyFrontier were worth $103,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AT Bancorp bought a new position in HollyFrontier in the second quarter worth approximately $104,000. Toronto Dominion Bank raised its stake in HollyFrontier by 6.3% in the second quarter. Toronto Dominion Bank now owns 3,994 shares of the oil and gas company’s stock worth $110,000 after buying an additional 235 shares in the last quarter. Ffcm LLC raised its stake in HollyFrontier by 2,500.0% in the second quarter. Ffcm LLC now owns 4,628 shares of the oil and gas company’s stock worth $130,000 after buying an additional 4,450 shares in the last quarter. IFP Advisors Inc raised its stake in HollyFrontier by 304.6% in the second quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock worth $134,000 after buying an additional 3,674 shares in the last quarter. Finally, GLG Partners LP bought a new position in HollyFrontier in the second quarter worth approximately $202,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.
Shares of HollyFrontier Corporation (NYSE HFC) opened at $44.05 on Friday. The firm has a market cap of $7,808.88, a price-to-earnings ratio of 28.42, a PEG ratio of 2.03 and a beta of 1.21. The company has a current ratio of 2.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.41. HollyFrontier Corporation has a 1-year low of $23.46 and a 1-year high of $44.86.
HollyFrontier (NYSE:HFC) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.25. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.24 billion. HollyFrontier had a net margin of 2.55% and a return on equity of 5.18%. The business’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. analysts predict that HollyFrontier Corporation will post 2.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 21st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Monday, November 20th. HollyFrontier’s payout ratio is 69.47%.
A number of equities analysts recently commented on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $38.00 price objective on shares of HollyFrontier in a research note on Friday, September 8th. Zacks Investment Research raised shares of HollyFrontier from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Argus raised shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Monday, November 20th. Barclays PLC assumed coverage on shares of HollyFrontier in a research note on Thursday, November 2nd. They issued an “overweight” rating and a $47.00 price objective for the company. Finally, Scotiabank raised shares of HollyFrontier from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. HollyFrontier has a consensus rating of “Hold” and an average price target of $38.59.
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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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