Kornitzer Capital Management Inc. KS Sells 2,430 Shares of HollyFrontier Corp (NYSE:HFC)

Kornitzer Capital Management Inc. KS decreased its position in HollyFrontier Corp (NYSE:HFC) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 837,706 shares of the oil and gas company’s stock after selling 2,430 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in HollyFrontier were worth $38,769,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of HFC. Advisor Group Inc. grew its position in shares of HollyFrontier by 2.3% during the second quarter. Advisor Group Inc. now owns 33,055 shares of the oil and gas company’s stock worth $1,531,000 after purchasing an additional 752 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of HollyFrontier by 75.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 12,590 shares of the oil and gas company’s stock worth $583,000 after purchasing an additional 5,430 shares in the last quarter. Pegasus Partners Ltd. purchased a new stake in shares of HollyFrontier during the second quarter worth about $259,000. Alpha Windward LLC grew its position in shares of HollyFrontier by 8,376.2% during the second quarter. Alpha Windward LLC now owns 10,680 shares of the oil and gas company’s stock worth $530,000 after purchasing an additional 10,554 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP grew its position in shares of HollyFrontier by 14.8% during the second quarter. Smith Graham & Co. Investment Advisors LP now owns 123,800 shares of the oil and gas company’s stock worth $5,729,000 after purchasing an additional 15,990 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

NYSE HFC traded up $0.71 on Tuesday, reaching $47.39. 24,161 shares of the stock traded hands, compared to its average volume of 1,873,750. The company has a current ratio of 2.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $47.93. The company has a market cap of $7.70 billion, a P/E ratio of 7.35, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45. HollyFrontier Corp has a 12 month low of $37.73 and a 12 month high of $76.56.

HollyFrontier (NYSE:HFC) last issued its earnings results 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 business 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%. HollyFrontier’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 EPS. Equities analysts anticipate that HollyFrontier Corp will post 4.89 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Wednesday, August 21st. HollyFrontier’s dividend payout ratio (DPR) is presently 20.50%.

Several research firms have weighed in on HFC. Goldman Sachs Group cut HollyFrontier from a “neutral” rating to a “sell” rating and cut their price target for the company from $53.00 to $45.00 in a report on Tuesday, April 16th. Bank of America raised HollyFrontier from an “underperform” rating to a “neutral” rating and set a $48.70 price target for the company in a research note on Monday, April 29th. ValuEngine lowered HollyFrontier from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, Morgan Stanley set a $54.00 price target on HollyFrontier and gave the stock a “hold” rating in a research note on Friday, May 17th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.41.

In other news, Director Franklin Myers bought 2,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $49.72 per share, with a total value of $124,300.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.49% of the company’s stock.

HollyFrontier Company Profile

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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Institutional Ownership by Quarter for HollyFrontier (NYSE:HFC)

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