HollyFrontier Corporation (HFC) Holdings Lifted by M&T Bank Corp
M&T Bank Corp raised its holdings in shares of HollyFrontier Corporation (NYSE:HFC) by 40.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,789 shares of the oil and gas company’s stock after purchasing an additional 5,744 shares during the period. M&T Bank Corp’s holdings in HollyFrontier Corporation were worth $543,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. bought a new position in HollyFrontier Corporation during the 2nd quarter valued at approximately $204,000. AT Bancorp bought a new position in HollyFrontier Corporation during the 2nd quarter valued at approximately $104,000. Ffcm LLC raised its position in HollyFrontier Corporation by 2,500.0% during the 2nd quarter. Ffcm LLC now owns 4,628 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 4,450 shares during the last quarter. IFP Advisors Inc raised its position in HollyFrontier Corporation by 304.6% during the 2nd quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 3,674 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in HollyFrontier Corporation by 18.1% during the 1st quarter. Van ECK Associates Corp now owns 7,001 shares of the oil and gas company’s stock valued at $198,000 after purchasing an additional 1,073 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.
Shares of HollyFrontier Corporation (HFC) opened at 35.42 on Friday. The company has a 50 day moving average price of $32.68 and a 200 day moving average price of $28.60. HollyFrontier Corporation has a 1-year low of $22.63 and a 1-year high of $37.00. The stock has a market cap of $6.21 billion, a P/E ratio of 44.95 and a beta of 1.23.
HollyFrontier Corporation (NYSE:HFC) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.24 billion. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. HollyFrontier Corporation’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, equities analysts anticipate that HollyFrontier Corporation will post $1.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Monday, August 21st. HollyFrontier Corporation’s dividend payout ratio (DPR) is 167.09%.
A number of research analysts have commented on HFC shares. BidaskClub raised HollyFrontier Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $37.00 target price on shares of HollyFrontier Corporation in a research report on Thursday, June 15th. Scotiabank reissued a “buy” rating and issued a $33.00 target price on shares of HollyFrontier Corporation in a research report on Friday, September 8th. Howard Weil increased their target price on HollyFrontier Corporation from $33.00 to $39.00 and gave the stock a “focus list” rating in a research report on Thursday, September 28th. Finally, Zacks Investment Research raised HollyFrontier Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. HollyFrontier Corporation presently has an average rating of “Hold” and a consensus price target of $34.05.
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HollyFrontier Corporation 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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