World Asset Management Inc raised its stake in shares of HollyFrontier Corp (NYSE:HFC) by 3.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,399 shares of the oil and gas company’s stock after purchasing an additional 486 shares during the period. World Asset Management Inc’s holdings in HollyFrontier were worth $666,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of HollyFrontier during the 4th quarter worth approximately $97,790,000. AQR Capital Management LLC lifted its position in shares of HollyFrontier by 17.5% during the 1st quarter. AQR Capital Management LLC now owns 11,776,317 shares of the oil and gas company’s stock worth $580,219,000 after buying an additional 1,753,888 shares in the last quarter. FMR LLC lifted its position in shares of HollyFrontier by 66.2% during the 4th quarter. FMR LLC now owns 2,114,787 shares of the oil and gas company’s stock worth $108,108,000 after buying an additional 842,025 shares in the last quarter. Hexavest Inc. bought a new position in shares of HollyFrontier during the 1st quarter worth approximately $31,543,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of HollyFrontier by 388.9% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 440,000 shares of the oil and gas company’s stock worth $20,363,000 after buying an additional 350,000 shares in the last quarter. Institutional investors and hedge funds own 85.92% of the company’s stock.
Shares of NYSE:HFC traded down $1.06 during mid-day trading on Friday, reaching $51.13. The company had a trading volume of 2,561,052 shares, compared to its average volume of 1,485,550. The company has a current ratio of 1.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 1.05 and a beta of 1.45. The company has a 50-day simple moving average of $46.48. HollyFrontier Corp has a one year low of $37.73 and a one year high of $76.56.
Several research firms have commented on HFC. Goldman Sachs Group cut shares of HollyFrontier from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $53.00 to $45.00 in a research report on Tuesday, April 16th. Morgan Stanley set a $54.00 target price on shares of HollyFrontier and gave the stock a “hold” rating in a research report on Friday, May 17th. ValuEngine raised shares of HollyFrontier from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Bank of America raised shares of 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. HollyFrontier currently has an average rating of “Hold” and an average target price of $62.41.
In related news, Director Franklin Myers purchased 2,900 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $42.78 per share, with a total value of $124,062.00. Following the acquisition, the director now owns 22,489 shares of the company’s stock, valued at approximately $962,079.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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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