Deutsche Bank AG Buys 38,392 Shares of HollyFrontier Corp (HFC)
Deutsche Bank AG lifted its stake in HollyFrontier Corp (NYSE:HFC) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 451,159 shares of the oil and gas company’s stock after purchasing an additional 38,392 shares during the quarter. Deutsche Bank AG’s holdings in HollyFrontier were worth $23,104,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of HollyFrontier by 2.7% in the fourth quarter. BlackRock Inc. now owns 21,620,652 shares of the oil and gas company’s stock worth $1,107,409,000 after buying an additional 565,625 shares during the period. Schroder Investment Management Group raised its stake in shares of HollyFrontier by 2.3% in the fourth quarter. Schroder Investment Management Group now owns 3,978,708 shares of the oil and gas company’s stock worth $203,789,000 after buying an additional 88,912 shares during the period. Alliancebernstein L.P. raised its stake in shares of HollyFrontier by 1.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,599,830 shares of the oil and gas company’s stock worth $184,383,000 after buying an additional 52,890 shares during the period. Bank of New York Mellon Corp raised its stake in shares of HollyFrontier by 5.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,952,567 shares of the oil and gas company’s stock worth $151,230,000 after buying an additional 162,312 shares during the period. Finally, APG Asset Management N.V. raised its stake in shares of HollyFrontier by 48.4% in the fourth quarter. APG Asset Management N.V. now owns 2,065,017 shares of the oil and gas company’s stock worth $88,083,000 after buying an additional 673,300 shares during the period. 86.02% of the stock is currently owned by hedge funds and other institutional investors.
HFC has been the subject of several research analyst reports. Cowen increased their target price on HollyFrontier from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Bank of America cut HollyFrontier from a “neutral” rating to an “underperform” rating in a research report on Friday, December 8th. Royal Bank of Canada reiterated a “buy” rating and set a $58.00 target price on shares of HollyFrontier in a research report on Tuesday, January 30th. Zacks Investment Research upgraded HollyFrontier from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Friday, January 19th. Finally, Howard Weil cut HollyFrontier from a “focus list” rating to an “outperform” rating in a research report on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $44.94.
HollyFrontier (NYSE:HFC) last released its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.12). The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.85 billion. HollyFrontier had a net margin of 5.65% and a return on equity of 7.51%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS. equities research analysts expect that HollyFrontier Corp will post 3.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.69%. The ex-dividend date was Tuesday, February 27th. HollyFrontier’s dividend payout ratio is presently 29.20%.
In other news, SVP James M. Stump sold 30,000 shares of HollyFrontier stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $51.21, for a total value of $1,536,300.00. Following the completion of the transaction, the senior vice president now owns 41,849 shares in the company, valued at approximately $2,143,087.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.51% of the company’s stock.
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HollyFrontier Company Profile
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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