Neuberger Berman Group LLC Decreases Position in HollyFrontier Corporation (HFC)
Neuberger Berman Group LLC reduced its stake in shares of HollyFrontier Corporation (NYSE:HFC) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,661 shares of the oil and gas company’s stock after selling 874 shares during the period. Neuberger Berman Group LLC owned 0.08% of HollyFrontier Corporation worth $3,930,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HFC. Norges Bank bought a new position in HollyFrontier Corporation during the fourth quarter valued at approximately $73,137,000. Ameriprise Financial Inc. raised its position in HollyFrontier Corporation by 256.6% in the first quarter. Ameriprise Financial Inc. now owns 1,979,489 shares of the oil and gas company’s stock valued at $56,099,000 after buying an additional 1,424,358 shares during the period. Schroder Investment Management Group raised its position in HollyFrontier Corporation by 50.9% in the first quarter. Schroder Investment Management Group now owns 3,416,621 shares of the oil and gas company’s stock valued at $96,007,000 after buying an additional 1,152,648 shares during the period. Luminus Management LLC bought a new position in HollyFrontier Corporation during the fourth quarter valued at approximately $34,055,000. Finally, FMR LLC raised its position in HollyFrontier Corporation by 43.0% in the fourth quarter. FMR LLC now owns 3,205,359 shares of the oil and gas company’s stock valued at $105,008,000 after buying an additional 963,700 shares during the period. 85.32% of the stock is currently owned by institutional investors.
HollyFrontier Corporation (NYSE:HFC) opened at 26.26 on Friday. The company has a 50-day moving average price of $26.16 and a 200-day moving average price of $28.63. The firm’s market capitalization is $4.61 billion. HollyFrontier Corporation has a 1-year low of $22.07 and a 1-year high of $34.78.
HollyFrontier Corporation (NYSE:HFC) last posted its quarterly earnings data on Wednesday, May 3rd. The oil and gas company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by $0.08. HollyFrontier Corporation had a positive return on equity of 1.37% and a negative net margin of 2.82%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue for the quarter was up 52.6% compared to the same quarter last year. On average, equities research analysts predict that HollyFrontier Corporation will post $1.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 23rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, May 19th. This represents a $1.32 annualized dividend and a dividend yield of 5.03%. HollyFrontier Corporation’s payout ratio is -70.59%.
ILLEGAL ACTIVITY NOTICE: This report was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.watchlistnews.com/neuberger-berman-group-llc-decreases-position-in-hollyfrontier-corporation-hfc/1372197.html.
Several brokerages have recently weighed in on HFC. Barclays PLC restated an “overweight” rating and set a $37.00 target price (down from $39.00) on shares of HollyFrontier Corporation in a research note on Friday, April 14th. Scotiabank set a $29.00 target price on HollyFrontier Corporation and gave the company a “hold” rating in a research note on Monday, March 27th. Credit Suisse Group downgraded HollyFrontier Corporation from an “outperform” rating to a “neutral” rating and raised their target price for the company from $30.00 to $33.00 in a research note on Thursday, May 4th. Zacks Investment Research downgraded HollyFrontier Corporation from a “hold” rating to a “sell” rating in a research note on Monday, June 5th. Finally, Piper Jaffray Companies restated a “neutral” rating on shares of HollyFrontier Corporation in a research note on Thursday, May 25th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $32.32.
HollyFrontier Corporation 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).
Want to see what other hedge funds are holding HFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HollyFrontier Corporation (NYSE:HFC).
Receive News & Ratings for HollyFrontier Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HollyFrontier Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.