Evergreen Capital Management LLC Buys New Stake in HollyFrontier Corporation (HFC)
Evergreen Capital Management LLC bought a new position in shares of HollyFrontier Corporation (NYSE:HFC) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 98,905 shares of the oil and gas company’s stock, valued at approximately $2,717,000. Evergreen Capital Management LLC owned 0.06% of HollyFrontier Corporation as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of HFC. Cambridge Investment Research Advisors Inc. increased its position in HollyFrontier Corporation by 13.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,556 shares of the oil and gas company’s stock worth $839,000 after buying an additional 3,543 shares during the period. River Road Asset Management LLC boosted its stake in shares of HollyFrontier Corporation by 943.1% in the second quarter. River Road Asset Management LLC now owns 276,160 shares of the oil and gas company’s stock worth $7,586,000 after buying an additional 249,684 shares in the last quarter. Brookstone Capital Management acquired a new stake in shares of HollyFrontier Corporation during the second quarter worth $321,000. Pacer Advisors Inc. boosted its stake in shares of HollyFrontier Corporation by 11.5% in the second quarter. Pacer Advisors Inc. now owns 24,406 shares of the oil and gas company’s stock worth $670,000 after buying an additional 2,514 shares in the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of HollyFrontier Corporation by 9.8% in the second quarter. Utah Retirement Systems now owns 32,482 shares of the oil and gas company’s stock worth $892,000 after buying an additional 2,900 shares in the last quarter. 83.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HollyFrontier Corporation (NYSE:HFC) opened at 31.47 on Tuesday. The stock has a market capitalization of $5.52 billion, a P/E ratio of 39.94 and a beta of 1.24. HollyFrontier Corporation has a one year low of $22.63 and a one year high of $34.78. The stock’s 50 day moving average is $28.33 and its 200-day moving average is $27.60.
HollyFrontier Corporation (NYSE:HFC) last announced its earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the firm earned $0.28 EPS. HollyFrontier Corporation’s revenue for the quarter was up 27.4% compared to the same quarter last year. On average, equities research analysts expect that HollyFrontier Corporation will post $1.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Monday, August 21st. HollyFrontier Corporation’s dividend payout ratio is presently 167.09%.
HFC has been the subject of a number of recent research reports. Zacks Investment Research cut shares of HollyFrontier Corporation from a “hold” rating to a “sell” rating in a research note on Monday, June 5th. Piper Jaffray Companies reiterated a “neutral” rating on shares of HollyFrontier Corporation in a research note on Thursday, May 25th. Scotiabank set a $29.00 price target on shares of HollyFrontier Corporation and gave the stock a “hold” rating in a research note on Monday, June 26th. BidaskClub cut shares of HollyFrontier Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $37.00 target price on shares of HollyFrontier Corporation in a research note on Thursday, June 15th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $30.32.
About HollyFrontier Corporation
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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