Bank of Nova Scotia cut its holdings in shares of HollyFrontier Corp (NYSE:HFC) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 648,873 shares of the oil and gas company’s stock after selling 24,411 shares during the quarter. Bank of Nova Scotia owned approximately 0.39% of HollyFrontier worth $30,030,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. AQR Capital Management LLC raised its holdings in HollyFrontier by 17.5% during the first quarter. AQR Capital Management LLC now owns 11,776,317 shares of the oil and gas company’s stock valued at $580,219,000 after acquiring an additional 1,753,888 shares during the period. Northern Trust Corp raised its holdings in HollyFrontier by 1.4% during the second quarter. Northern Trust Corp now owns 2,872,017 shares of the oil and gas company’s stock valued at $132,917,000 after acquiring an additional 39,797 shares during the period. AJO LP raised its holdings in HollyFrontier by 13.4% during the first quarter. AJO LP now owns 1,862,805 shares of the oil and gas company’s stock valued at $91,780,000 after acquiring an additional 220,651 shares during the period. LSV Asset Management raised its holdings in HollyFrontier by 21.8% during the second quarter. LSV Asset Management now owns 1,796,657 shares of the oil and gas company’s stock valued at $83,149,000 after acquiring an additional 321,600 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in HollyFrontier by 13.0% during the first quarter. Great West Life Assurance Co. Can now owns 1,482,086 shares of the oil and gas company’s stock valued at $72,800,000 after acquiring an additional 170,562 shares during the period. 84.39% of the stock is currently owned by institutional investors and hedge funds.
HFC has been the topic of a number of recent analyst reports. Morgan Stanley set a $54.00 price target on HollyFrontier and gave the company a “hold” rating in a report on Friday, May 17th. ValuEngine raised HollyFrontier from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price target on HollyFrontier from $55.00 to $50.00 and set an “underweight” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. HollyFrontier has a consensus rating of “Hold” and an average price target of $59.19.
HollyFrontier (NYSE:HFC) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $2.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.51. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.31 billion. HollyFrontier had a return on equity of 18.51% and a net margin of 5.25%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 earnings per share. On average, equities analysts expect that HollyFrontier Corp will post 4.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.58%. HollyFrontier’s payout ratio is 20.50%.
In other news, Director Franklin Myers acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $49.72 per share, for a total transaction of $124,300.00. Following the completion of the transaction, the director now directly owns 24,989 shares in the company, valued at approximately $1,242,453.08. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.49% of the company’s stock.
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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