Vision Capital Management Inc. Raises Stake in HollyFrontier Corporation (NYSE:HFC)

Vision Capital Management Inc. lifted its position in HollyFrontier Corporation (NYSE:HFC) by 23.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,870 shares of the oil and gas company’s stock after buying an additional 10,595 shares during the period. Vision Capital Management Inc.’s holdings in HollyFrontier Corporation were worth $1,535,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in HollyFrontier Corporation by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,760,488 shares of the oil and gas company’s stock worth $75,829,000 after purchasing an additional 11,604 shares during the last quarter. Comerica Bank grew its position in HollyFrontier Corporation by 0.6% during the 2nd quarter. Comerica Bank now owns 153,411 shares of the oil and gas company’s stock worth $4,230,000 after purchasing an additional 964 shares during the last quarter. SG Americas Securities LLC grew its position in HollyFrontier Corporation by 232.7% during the 1st quarter. SG Americas Securities LLC now owns 19,716 shares of the oil and gas company’s stock worth $559,000 after purchasing an additional 13,790 shares during the last quarter. Edge Asset Management Inc. grew its position in HollyFrontier Corporation by 1.6% during the 1st quarter. Edge Asset Management Inc. now owns 2,418,323 shares of the oil and gas company’s stock worth $68,536,000 after purchasing an additional 38,591 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of HollyFrontier Corporation by 383.3% in the 1st quarter. JPMorgan Chase & Co. now owns 977,618 shares of the oil and gas company’s stock valued at $27,705,000 after acquiring an additional 775,341 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on HFC shares. BidaskClub raised shares of HollyFrontier Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $38.00 price objective on shares of HollyFrontier Corporation in a report on Friday, September 8th. Zacks Investment Research downgraded shares of HollyFrontier Corporation from a “hold” rating to a “sell” rating in a report on Monday, June 5th. Scotiabank set a $29.00 target price on shares of HollyFrontier Corporation and gave the company a “hold” rating in a research note on Monday, June 26th. Finally, Piper Jaffray Companies reiterated a “neutral” rating on shares of HollyFrontier Corporation in a research note on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.72.

HollyFrontier Corporation (NYSE:HFC) traded up 1.48% during trading on Friday, reaching $34.38. 220,031 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $30.42 and a 200 day moving average price of $27.91. HollyFrontier Corporation has a 52 week low of $22.63 and a 52 week high of $34.78. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 43.63 and a beta of 1.21.

HollyFrontier Corporation (NYSE:HFC) last announced its earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a net margin of 1.13% and a return on equity of 2.65%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company posted $0.28 EPS. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. Equities research analysts forecast that HollyFrontier Corporation will post $1.55 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Monday, August 21st. HollyFrontier Corporation’s payout ratio is 167.09%.

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About HollyFrontier Corporation

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).

Institutional Ownership by Quarter for HollyFrontier Corporation (NYSE:HFC)

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