Westpac Banking Corp grew its holdings in shares of HollyFrontier Corp (NYSE:HFC) by 58.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,875 shares of the oil and gas company’s stock after acquiring an additional 16,258 shares during the period. Westpac Banking Corp’s holdings in HollyFrontier were worth $3,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Raymond James & Associates boosted its holdings in HollyFrontier by 3.5% in the 2nd quarter. Raymond James & Associates now owns 256,077 shares of the oil and gas company’s stock worth $17,523,000 after buying an additional 8,731 shares during the period. Northern Trust Corp boosted its holdings in HollyFrontier by 4.2% in the 2nd quarter. Northern Trust Corp now owns 2,459,478 shares of the oil and gas company’s stock worth $168,301,000 after buying an additional 98,605 shares during the period. United Services Automobile Association boosted its holdings in HollyFrontier by 30.2% in the 2nd quarter. United Services Automobile Association now owns 223,704 shares of the oil and gas company’s stock worth $15,308,000 after buying an additional 51,931 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd boosted its holdings in HollyFrontier by 149.3% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 37,399 shares of the oil and gas company’s stock worth $2,614,000 after buying an additional 22,399 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in HollyFrontier by 5.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,026,035 shares of the oil and gas company’s stock worth $71,722,000 after buying an additional 51,575 shares during the period. 87.22% of the stock is owned by hedge funds and other institutional investors.
HFC has been the subject of several recent analyst reports. US Capital Advisors raised shares of HollyFrontier from a “hold” rating to an “overweight” rating in a report on Monday, October 15th. Jefferies Financial Group raised shares of HollyFrontier from an “underperform” rating to a “hold” rating and set a $62.00 target price for the company in a report on Tuesday, October 16th. JPMorgan Chase & Co. upped their target price on shares of HollyFrontier from $77.00 to $79.00 and gave the stock an “underweight” rating in a report on Wednesday, November 14th. Finally, ValuEngine downgraded shares of HollyFrontier from a “hold” rating to a “sell” rating in a report on Tuesday, November 13th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $73.77.
HollyFrontier (NYSE:HFC) last announced its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.66 by $0.32. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.42 billion. HollyFrontier had a net margin of 8.51% and a return on equity of 13.94%. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. As a group, equities analysts expect that HollyFrontier Corp will post 5.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Tuesday, November 20th. HollyFrontier’s payout ratio is currently 56.90%.
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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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