Westpac Banking Corp lessened its holdings in shares of HollyFrontier Corp (NYSE:HFC) by 46.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,707 shares of the oil and gas company’s stock after selling 26,655 shares during the period. Westpac Banking Corp’s holdings in HollyFrontier were worth $1,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. CSat Investment Advisory L.P. increased its position in shares of HollyFrontier by 45.6% in the 1st quarter. CSat Investment Advisory L.P. now owns 769 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 241 shares during the period. Quantamental Technologies LLC acquired a new position in shares of HollyFrontier in the 1st quarter valued at $40,000. NuWave Investment Management LLC increased its position in shares of HollyFrontier by 69.7% in the 2nd quarter. NuWave Investment Management LLC now owns 847 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 348 shares during the period. AdvisorNet Financial Inc acquired a new position in shares of HollyFrontier in the 2nd quarter valued at $39,000. Finally, Pinnacle Financial Partners Inc. acquired a new position in shares of HollyFrontier in the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

HFC has been the topic of several research reports. Bank of America raised HollyFrontier from an “underperform” rating to a “neutral” rating and set a $48.70 target price on the stock in a research report on Monday, April 29th. ValuEngine downgraded HollyFrontier from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Finally, Morgan Stanley set a $54.00 target price on HollyFrontier and gave the company a “hold” rating in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $62.41.

HFC traded up $0.49 during midday trading on Friday, hitting $44.35. 2,890,100 shares of the company were exchanged, compared to its average volume of 2,009,283. The company’s 50 day simple moving average is $47.99 and its 200 day simple moving average is $48.04. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 6.89, a price-to-earnings-growth ratio of 0.87 and a beta of 1.45. The company has a current ratio of 2.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. HollyFrontier Corp has a 1-year low of $37.73 and a 1-year high of $76.56.

HollyFrontier (NYSE:HFC) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.51. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.31 billion. HollyFrontier had a return on equity of 18.51% and a net margin of 5.25%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.45 EPS. On average, equities analysts anticipate that HollyFrontier Corp will post 4.86 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Wednesday, August 21st. HollyFrontier’s dividend payout ratio is currently 20.50%.

In related news, Director Franklin Myers purchased 2,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $49.72 per share, with a total value of $124,300.00. Following the transaction, the director now owns 24,989 shares of the company’s stock, valued at $1,242,453.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is currently owned by company insiders.

HollyFrontier Company Profile

HollyFrontier Corporation operates as an independent petroleum refiner in the United States. The company operates through three segments: Refining, Lubricants and Specialty Products, and HEP. It primarily produces high-value light products, such as gasoline, diesel and jet fuel, and specialty lubricant products, as well as specialty and modified asphalt.

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Institutional Ownership by Quarter for HollyFrontier (NYSE:HFC)

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