Orca Investment Management adds HollyFrontier Corp (HFC) to its portfolio

HollyFrontier Corp (HFC) : Orca Investment Management added new position in HollyFrontier Corp during the most recent quarter end. The investment management firm now holds 115,548 shares of HollyFrontier Corp which is valued at $2,836,703 , the company said in a statement filed on Jul 25, 2016 with the SEC.HollyFrontier Corp makes up approximately 2.66% of Orca Investment Management’s portfolio.

Other Hedge Funds, Including , Nikko Asset Management Americas boosted its stake in HFC in the latest quarter, The investment management firm added 16,600 additional shares and now holds a total of 143,300 shares of HollyFrontier Corp which is valued at $3,437,767. HollyFrontier Corp makes up approx 0.32% of Nikko Asset Management Americas’s portfolio.Weaver C. Barksdale Associates boosted its stake in HFC in the latest quarter, The investment management firm added 750 additional shares and now holds a total of 2,220 shares of HollyFrontier Corp which is valued at $54,190. HollyFrontier Corp makes up approx 0.09% of Weaver C. Barksdale Associates’s portfolio.

HollyFrontier Corp opened for trading at $24.5 and hit $25.52 on the upside on Friday, eventually ending the session at $25.42, with a gain of 3.25% or 0.8 points. The heightened volatility saw the trading volume jump to 48,66,169 shares. Company has a market cap of $4,487 M.

On the company’s financial health, HollyFrontier Corp reported $0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.08. The company had revenue of $2018.70 million for the quarter, compared to analysts expectations of $2031.27 million. The company’s revenue was down -32.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.16 EPS.

Many Wall Street Analysts have commented on HollyFrontier Corp. Shares were Downgraded by Deutsche Bank on Jul 12, 2016 to ” Hold” and Lowered the Price Target to $ 30 from a previous price target of $53 .Shares were Downgraded by Morgan Stanley on Jun 17, 2016 to ” Underweight” and Lowered the Price Target to $ 26 from a previous price target of $41 .HollyFrontier Corp was Upgraded by Scotia Howard Weil to ” Sector Outperform” on May 18, 2016.

HollyFrontier Corporation is an independent petroleum refiner in the United States. The Company produces refined products such as gasoline diesel fuel jet fuel lubricant products and specialty and modified asphalt. The Company operates through two segments namely Refining and HEP. The Refining segment includes the operations of its El Dorado Tulsa Navajo Cheyenne and Woods Cross Refineries and NK Asphalt Partners (NK Asphalt). The Company’s refinery operations serve the Mid-Continent Southwest and Rocky Mountain regions of the United States. The HEP segment includes of the operations of the Company’s subsidiary Holly Energy Partners L.P. (HEP). HEP is a limited partnership that acquires owns and operates of the refined product pipeline and terminalling assets that support the refining and marketing operations in the Mid-Continent Southwest and Rocky Mountain regions of the United States.

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