Ladenburg Thalmann Financial Services Inc. trimmed its holdings in HollyFrontier Corporation (NYSE:HFC) by 28.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,870 shares of the oil and gas company’s stock after selling 11,127 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in HollyFrontier were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. bought a new position in HollyFrontier in the second quarter valued at approximately $204,000. Toronto Dominion Bank grew its stake in shares of HollyFrontier by 6.3% during the second quarter. Toronto Dominion Bank now owns 3,994 shares of the oil and gas company’s stock worth $110,000 after buying an additional 235 shares during the last quarter. FNY Managed Accounts LLC bought a new stake in shares of HollyFrontier during the third quarter worth $163,000. Ffcm LLC grew its stake in shares of HollyFrontier by 2,500.0% during the second quarter. Ffcm LLC now owns 4,628 shares of the oil and gas company’s stock worth $130,000 after buying an additional 4,450 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of HollyFrontier by 304.6% during the second quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock worth $134,000 after buying an additional 3,674 shares during the last quarter. Institutional investors own 83.21% of the company’s stock.
In other HollyFrontier news, Director Michael Jennings sold 4,500 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $44.50, for a total value of $200,250.00. Following the completion of the sale, the director now directly owns 49,717 shares of the company’s stock, valued at approximately $2,212,406.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James H. Lee sold 5,149 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.17, for a total transaction of $242,878.33. Following the completion of the sale, the director now directly owns 52,240 shares of the company’s stock, valued at $2,464,160.80. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
HollyFrontier (NYSE:HFC) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.25. HollyFrontier had a net margin of 2.55% and a return on equity of 5.18%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The firm’s revenue was up 30.6% compared to the same quarter last year. analysts expect that HollyFrontier Corporation will post 2.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 21st were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Monday, November 20th. HollyFrontier’s payout ratio is 69.47%.
HFC has been the topic of a number of research reports. Cowen reaffirmed a “hold” rating and set a $30.00 target price on shares of HollyFrontier in a research note on Tuesday, October 17th. Scotiabank raised shares of HollyFrontier from an “outperform” rating to a “focus stock” rating and boosted their target price for the stock from $33.00 to $39.00 in a research note on Saturday, September 30th. Zacks Investment Research raised shares of HollyFrontier from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Tuesday, October 17th. Bank of America cut shares of HollyFrontier from a “neutral” rating to an “underperform” rating in a research note on Friday, December 8th. Finally, ValuEngine raised shares of HollyFrontier from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $40.67.
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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