Icon Advisers Inc. Co. Invests $2.08 Million in HollyFrontier Corp (HFC) Stock

Icon Advisers Inc. Co. acquired a new stake in shares of HollyFrontier Corp (NYSE:HFC) in the third quarter, HoldingsChannel.com reports. The fund acquired 29,700 shares of the oil and gas company’s stock, valued at approximately $2,076,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HFC. Premia Global Advisors LLC purchased a new stake in HollyFrontier during the 2nd quarter valued at approximately $101,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in HollyFrontier by 375.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,900 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 1,500 shares in the last quarter. Mainstay Capital Management LLC ADV purchased a new stake in HollyFrontier during the 2nd quarter valued at approximately $137,000. Transamerica Financial Advisors Inc. purchased a new stake in HollyFrontier during the 2nd quarter valued at approximately $145,000. Finally, First Hawaiian Bank purchased a new stake in HollyFrontier during the 3rd quarter valued at approximately $147,000. 87.65% of the stock is owned by institutional investors and hedge funds.

HFC stock opened at $68.13 on Thursday. HollyFrontier Corp has a fifty-two week low of $41.32 and a fifty-two week high of $83.28. The company has a quick ratio of 1.30, a current ratio of 2.50 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $11.35 billion, a P/E ratio of 29.37, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07.

HollyFrontier (NYSE:HFC) last posted its earnings results on Wednesday, October 31st. The oil and gas company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.32. HollyFrontier had a net margin of 8.51% and a return on equity of 13.94%. The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the firm posted $1.14 earnings per share. HollyFrontier’s revenue for the quarter was up 28.3% compared to the same quarter last year. Analysts predict that HollyFrontier Corp will post 5.72 earnings per share for the current year.

A number of equities research analysts have issued reports on HFC shares. Morgan Stanley increased their price objective on shares of HollyFrontier from $75.00 to $82.00 and gave the company a “hold” rating in a report on Monday, July 16th. Zacks Investment Research lowered shares of HollyFrontier from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Mizuho started coverage on shares of HollyFrontier in a report on Wednesday, August 1st. They set a “neutral” rating and a $75.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $70.00 price objective on shares of HollyFrontier in a report on Friday, August 3rd. Finally, US Capital Advisors lowered shares of HollyFrontier from an “overweight” rating to a “hold” rating in a report on Friday, September 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $71.38.

ILLEGAL ACTIVITY NOTICE: This piece was first reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.thelincolnianonline.com/2018/11/08/icon-advisers-inc-co-invests-2-08-million-in-hollyfrontier-corp-hfc-stock.html.

HollyFrontier 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.

Featured Story: Exchange-Traded Funds (ETFs)

Want to see what other hedge funds are holding HFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HollyFrontier Corp (NYSE:HFC).

Institutional Ownership by Quarter for HollyFrontier (NYSE:HFC)

Receive News & Ratings for HollyFrontier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HollyFrontier and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply