Wealth Enhancement Advisory Services LLC Acquires New Stake in HollyFrontier Corporation (HFC)

Wealth Enhancement Advisory Services LLC bought a new position in HollyFrontier Corporation (NYSE:HFC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,979 shares of the oil and gas company’s stock, valued at approximately $874,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. increased its position in HollyFrontier Corporation by 12.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 45,687 shares of the oil and gas company’s stock worth $1,295,000 after buying an additional 5,237 shares in the last quarter. Douglas Lane & Associates LLC increased its position in HollyFrontier Corporation by 1.9% in the first quarter. Douglas Lane & Associates LLC now owns 1,555,111 shares of the oil and gas company’s stock worth $44,072,000 after buying an additional 29,124 shares in the last quarter. Retirement Systems of Alabama increased its position in HollyFrontier Corporation by 0.9% in the first quarter. Retirement Systems of Alabama now owns 228,974 shares of the oil and gas company’s stock worth $6,489,000 after buying an additional 1,947 shares in the last quarter. Coastline Trust Co increased its position in HollyFrontier Corporation by 36.9% in the first quarter. Coastline Trust Co now owns 14,775 shares of the oil and gas company’s stock worth $419,000 after buying an additional 3,985 shares in the last quarter. Finally, DnB Asset Management AS increased its position in HollyFrontier Corporation by 30.8% in the first quarter. DnB Asset Management AS now owns 17,000 shares of the oil and gas company’s stock worth $482,000 after buying an additional 4,000 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Shares of HollyFrontier Corporation (NYSE HFC) opened at 27.66 on Friday. The company has a 50-day moving average price of $28.19 and a 200 day moving average price of $27.61. HollyFrontier Corporation has a 52-week low of $22.63 and a 52-week high of $34.78. The firm has a market capitalization of $4.85 billion, a PE ratio of 35.10 and a beta of 1.24.

HollyFrontier Corporation (NYSE:HFC) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the company posted $0.28 EPS. HollyFrontier Corporation’s revenue was up 27.4% on a year-over-year basis. Analysts expect that HollyFrontier Corporation will post $1.23 EPS for the current fiscal year.

The business also recently disclosed 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 annualized dividend and a yield of 4.77%. The ex-dividend date is Monday, August 21st. HollyFrontier Corporation’s dividend payout ratio (DPR) is presently 167.09%.

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A number of research firms have commented on HFC. BidaskClub raised HollyFrontier Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Royal Bank Of Canada raised their price target on HollyFrontier Corporation from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Barclays PLC raised their price target on HollyFrontier Corporation from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Scotiabank raised HollyFrontier Corporation from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research raised HollyFrontier Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price 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).

Institutional Ownership by Quarter for HollyFrontier Corporation (NYSE:HFC)

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