HollyFrontier Corporation (HFC) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. raised its position in shares of HollyFrontier Corporation (NYSE:HFC) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 984,788 shares of the oil and gas company’s stock after purchasing an additional 60,524 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.56% of HollyFrontier worth $35,423,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of HFC. Bank of New York Mellon Corp lifted its holdings in shares of HollyFrontier by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,760,488 shares of the oil and gas company’s stock valued at $75,829,000 after buying an additional 11,604 shares during the period. Comerica Bank lifted its holdings in shares of HollyFrontier by 0.6% in the 2nd quarter. Comerica Bank now owns 153,411 shares of the oil and gas company’s stock valued at $4,230,000 after buying an additional 964 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of HollyFrontier by 2.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 507,510 shares of the oil and gas company’s stock valued at $13,941,000 after buying an additional 12,343 shares during the period. Schroder Investment Management Group lifted its holdings in shares of HollyFrontier by 5.4% in the 2nd quarter. Schroder Investment Management Group now owns 3,601,605 shares of the oil and gas company’s stock valued at $100,845,000 after buying an additional 184,984 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in shares of HollyFrontier by 233.7% in the 2nd quarter. Bank of Nova Scotia now owns 717,500 shares of the oil and gas company’s stock valued at $19,710,000 after buying an additional 502,500 shares during the period. Institutional investors and hedge funds own 83.31% of the company’s stock.
In related news, Director Michael Jennings sold 4,500 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $44.50, for a total value of $200,250.00. Following the completion of the transaction, the director now owns 49,717 shares of the company’s stock, valued at approximately $2,212,406.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.
Several brokerages have recently issued reports on HFC. Piper Jaffray Companies reissued a “hold” rating and issued a $38.00 price objective on shares of HollyFrontier in a report on Friday, November 17th. Macquarie reissued an “underperform” rating on shares of HollyFrontier in a report on Monday, October 23rd. Barclays boosted their price objective on HollyFrontier from $47.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. Argus raised HollyFrontier from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Monday, November 20th. Finally, Goldman Sachs Group raised HollyFrontier from a “sell” rating to a “neutral” rating and set a $26.00 price objective for the company in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.73.
HollyFrontier Corporation (NYSE HFC) opened at $45.69 on Friday. The firm has a market capitalization of $8,099.60, a PE ratio of 29.48, a P/E/G ratio of 2.00 and a beta of 1.31. HollyFrontier Corporation has a fifty-two week low of $23.46 and a fifty-two week high of $46.16. The company has a quick ratio of 0.98, a current ratio of 2.00 and a debt-to-equity ratio of 0.41.
HollyFrontier (NYSE:HFC) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.25. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.24 billion. HollyFrontier had a return on equity of 5.18% and a net margin of 2.55%. HollyFrontier’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. analysts forecast that HollyFrontier Corporation will post 2.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Tuesday, November 21st will be issued a $0.33 dividend. The ex-dividend date is Monday, November 20th. This represents a $1.32 dividend on an annualized basis and a yield of 2.89%. HollyFrontier’s payout ratio is 69.47%.
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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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