Loading...

HollyFrontier

NYSE:HFC
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HFC
NYSE
$8B
Market Cap
  1. Home
  2. US
  3. Energy
Company description

HollyFrontier Corporation operates as an independent petroleum refiner in the United States. The last earnings update was 73 days ago. More info.


Add to Portfolio Compare Print
HFC Share Price and Events
7 Day Returns
5.9%
NYSE:HFC
1.8%
US Oil and Gas
0.6%
US Market
1 Year Returns
-29.3%
NYSE:HFC
-15.8%
US Oil and Gas
4.7%
US Market
HFC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
HollyFrontier (HFC) 5.9% 20.4% 0.1% -29.3% 102.1% 9.9%
US Oil and Gas 1.8% 5.7% -5.1% -15.8% -4.7% -35.8%
US Market 0.6% 4.2% 2.7% 4.7% 38% 43.5%
1 Year Return vs Industry and Market
  • HFC underperformed the Oil and Gas industry which returned -15.8% over the past year.
  • HFC underperformed the Market in United States of America which returned 4.7% over the past year.
Price Volatility
HFC
Industry
5yr Volatility vs Market

HFC Value

 Is HollyFrontier undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of HollyFrontier to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for HollyFrontier.

NYSE:HFC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:HFC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.93
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.929 (1 + (1- 21%) (35.27%))
1.126
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.126 * 5.96%)
9.44%

Discounted Cash Flow Calculation for NYSE:HFC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for HollyFrontier is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:HFC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.44%)
2020 1,007.27 Analyst x8 920.37
2021 807.50 Analyst x2 674.19
2022 777.45 Est @ -3.72% 593.10
2023 763.57 Est @ -1.79% 532.26
2024 760.27 Est @ -0.43% 484.24
2025 764.21 Est @ 0.52% 444.75
2026 773.23 Est @ 1.18% 411.19
2027 785.96 Est @ 1.65% 381.90
2028 801.45 Est @ 1.97% 355.83
2029 819.07 Est @ 2.2% 332.28
Present value of next 10 years cash flows $5,130.10
NYSE:HFC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $819.07 × (1 + 2.73%) ÷ (9.44% – 2.73%)
$12,537.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $12,537.32 ÷ (1 + 9.44%)10
$5,086.13
NYSE:HFC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $5,130.10 + $5,086.13
$10,216.23
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $10,216.23 / 169.54
$60.26
NYSE:HFC Discount to Share Price
Calculation Result
Value per share (USD) From above. $60.26
Current discount Discount to share price of $48.54
= -1 x ($48.54 - $60.26) / $60.26
19.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price HollyFrontier is available for.
Intrinsic value
19%
Share price is $48.54 vs Future cash flow value of $60.26
Current Discount Checks
For HollyFrontier to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • HollyFrontier's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • HollyFrontier's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for HollyFrontier's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are HollyFrontier's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:HFC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $6.22
NYSE:HFC Share Price ** NYSE (2019-07-12) in USD $48.54
United States of America Oil and Gas Industry PE Ratio Median Figure of 101 Publicly-Listed Oil and Gas Companies 13.19x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 18.01x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of HollyFrontier.

NYSE:HFC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:HFC Share Price ÷ EPS (both in USD)

= 48.54 ÷ 6.22

7.8x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • HollyFrontier is good value based on earnings compared to the US Oil and Gas industry average.
  • HollyFrontier is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does HollyFrontier's expected growth come at a high price?
Raw Data
NYSE:HFC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
-5.2%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 79 Publicly-Listed Oil and Gas Companies 0.45x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

NYSE:HFC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.8x ÷ -5.2%

-1.5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • HollyFrontier earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on HollyFrontier's assets?
Raw Data
NYSE:HFC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $35.77
NYSE:HFC Share Price * NYSE (2019-07-12) in USD $48.54
United States of America Oil and Gas Industry PB Ratio Median Figure of 196 Publicly-Listed Oil and Gas Companies 1.1x
United States of America Market PB Ratio Median Figure of 5,239 Publicly-Listed Companies 1.81x
NYSE:HFC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:HFC Share Price ÷ Book Value per Share (both in USD)

= 48.54 ÷ 35.77

1.36x

* Primary Listing of HollyFrontier.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • HollyFrontier is overvalued based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess HollyFrontier's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. HollyFrontier has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

HFC Future Performance

 How is HollyFrontier expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-5.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is HollyFrontier expected to grow at an attractive rate?
  • HollyFrontier's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • HollyFrontier's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • HollyFrontier's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:HFC Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:HFC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts -5.2%
NYSE:HFC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts -1%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 12.9%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:HFC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:HFC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 16,397 1
2022-12-31 16,859 1
2021-12-31 16,179 1,206 5
2020-12-31 17,098 1,506 901 9
2019-12-31 16,751 1,310 880 9
NYSE:HFC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 17,483 1,437 1,080
2018-12-31 17,715 1,554 1,094
2018-09-30 17,363 1,296 1,471
2018-06-30 16,312 1,206 1,400
2018-03-31 15,299 1,325 1,113
2017-12-31 14,251 951 800
2017-09-30 13,214 948 335
2017-06-30 12,342 770 139
2017-03-31 11,597 561 -328
2016-12-31 10,536 607 -261
2016-09-30 10,524 521 -358
2016-06-30 11,263 720 -237

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • HollyFrontier's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • HollyFrontier's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:HFC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from HollyFrontier Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HFC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 5.80 6.89 5.01 5.00
2019-12-31 5.04 5.56 4.35 5.00
NYSE:HFC Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 6.22
2018-12-31 6.25
2018-09-30 8.36
2018-06-30 7.95
2018-03-31 6.32
2017-12-31 4.54
2017-09-30 1.90
2017-06-30 0.79
2017-03-31 -1.87
2016-12-31 -1.48
2016-09-30 -2.02
2016-06-30 -1.31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • HollyFrontier is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess HollyFrontier's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
HollyFrontier has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

HFC Past Performance

  How has HollyFrontier performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare HollyFrontier's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • HollyFrontier has delivered over 20% year on year earnings growth in the past 5 years.
  • HollyFrontier's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • HollyFrontier's 1-year earnings growth is negative, it can't be compared to the US Oil and Gas industry average.
Earnings and Revenue History
HollyFrontier's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from HollyFrontier Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HFC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 17,483.49 1,079.80 298.65
2018-12-31 17,714.67 1,094.25 284.28
2018-09-30 17,363.17 1,470.60 275.74
2018-06-30 16,311.62 1,400.25 268.96
2018-03-31 15,299.24 1,113.34 254.74
2017-12-31 14,251.30 800.35 235.33
2017-09-30 13,213.66 335.30 183.26
2017-06-30 12,341.69 138.64 154.72
2017-03-31 11,597.46 -328.34 128.28
2016-12-31 10,535.70 -261.46 109.84
2016-09-30 10,524.19 -358.25 122.68
2016-06-30 11,262.74 -236.78 120.44
2016-03-31 12,250.02 532.60 116.90
2015-12-31 13,237.92 737.80 120.85
2015-09-30 14,577.48 560.17 118.60
2015-06-30 16,309.21 538.95 115.01
2015-03-31 17,979.90 355.11 117.26
2014-12-31 19,764.33 280.47 114.61
2014-09-30 20,308.01 564.68 118.27
2014-06-30 20,317.58 472.18 120.05
2014-03-31 20,243.82 552.31 125.69
2013-12-31 20,160.56 733.09 127.96
2013-09-30 20,481.27 1,060.19 131.82
2013-06-30 20,358.94 1,575.89 131.67
2013-03-31 19,866.78 1,810.20 129.77
2012-12-31 20,090.72 1,719.52 128.10
2012-09-30 19,915.63 1,553.20 103.39

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • HollyFrontier has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • HollyFrontier used its assets more efficiently than the US Oil and Gas industry average last year based on Return on Assets.
  • HollyFrontier has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess HollyFrontier's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
HollyFrontier has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

HFC Health

 How is HollyFrontier's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up HollyFrontier's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • HollyFrontier is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • HollyFrontier's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of HollyFrontier's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from HollyFrontier Company Filings, last reported 3 months ago.

NYSE:HFC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 6,594.57 2,466.53 496.14
2018-12-31 6,459.06 2,444.44 1,154.75
2018-09-30 6,563.51 2,409.15 1,075.68
2018-06-30 6,403.64 2,387.76 979.87
2018-03-31 6,157.91 2,382.87 781.47
2017-12-31 5,896.94 2,498.99 630.76
2017-09-30 5,465.78 2,236.51 630.74
2017-06-30 5,242.08 2,227.95 460.39
2017-03-31 5,223.19 2,231.54 129.67
2016-12-31 5,301.99 2,235.14 1,134.82
2016-09-30 5,220.40 1,665.60 478.16
2016-06-30 5,197.91 1,678.12 533.32
2016-03-31 5,643.20 1,308.17 111.02
2015-12-31 5,809.77 1,040.04 210.55
2015-09-30 6,181.68 982.85 626.78
2015-06-30 6,167.96 933.87 626.22
2015-03-31 6,199.50 1,078.31 1,008.60
2014-12-31 6,100.72 1,055.36 1,042.10
2014-09-30 6,560.85 1,040.63 1,479.51
2014-06-30 6,666.62 1,029.51 1,797.97
2014-03-31 6,648.50 1,024.73 1,784.10
2013-12-31 6,609.40 999.33 1,665.26
2013-09-30 6,796.15 1,001.86 1,951.23
2013-06-30 6,899.38 990.24 1,982.14
2013-03-31 6,929.05 1,286.11 2,538.14
2012-12-31 6,642.66 1,339.67 2,388.29
2012-09-30 6,359.50 1,349.99 2,337.82
  • HollyFrontier's level of debt (37.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (15.4% vs 37.5% today).
  • Debt is well covered by operating cash flow (58.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.2x coverage).
X
Financial health checks
We assess HollyFrontier's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. HollyFrontier has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

HFC Dividends

 What is HollyFrontier's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.72%
Current annual income from HollyFrontier dividends. Estimated to be 2.85% next year.
If you bought $2,000 of HollyFrontier shares you are expected to receive $54 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • HollyFrontier's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).
  • HollyFrontier's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:HFC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 67 Stocks 3.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2018 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:HFC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.62 1.00
2022-12-31 1.54 1.00
2021-12-31 1.41 6.00
2020-12-31 1.38 12.00
2019-12-31 1.34 12.00
NYSE:HFC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-08 1.320 3.086
2019-02-13 1.320 2.619
2018-11-07 1.320 2.372
2018-08-02 1.320 1.924
2018-05-09 1.320 1.837
2018-02-14 1.320 2.588
2017-11-08 1.320 2.796
2017-11-02 1.320 3.189
2017-11-01 1.320 3.304
2017-05-10 1.320 4.467
2017-02-15 1.320 4.732
2016-11-09 1.320 4.389
2016-11-03 1.320 5.519
2016-05-11 1.320 5.224
2016-02-17 1.320 3.865
2015-11-11 1.320 3.362
2015-08-05 1.320 2.707
2015-05-13 1.320 3.036
2015-02-18 1.280 3.217
2014-11-12 3.280 8.672
2014-08-06 3.280 7.167
2014-05-14 3.280 7.036
2014-02-19 3.200 6.560
2013-11-13 3.200 6.796
2013-08-07 3.200 7.320
2013-05-16 3.700 8.293
2013-02-20 3.700 7.243
2012-08-13 2.600 6.039
2012-05-16 1.600 4.744
2012-02-21 0.900 2.821
2011-11-16 0.400 1.534
2011-08-03 0.350 1.108
2011-05-12 0.300 0.920
2011-02-24 0.300 1.035
2010-11-04 0.300 1.461
2010-08-05 0.300 2.076
2010-05-06 0.300 2.303
2010-02-25 0.300 2.211
2009-11-05 0.300 2.254
2009-09-03 0.300 2.277
2009-05-28 0.300 2.923
2009-03-09 0.300 2.644
2008-12-10 0.300 2.825
2008-09-09 0.300 3.116

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of HollyFrontier's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess HollyFrontier's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can HollyFrontier afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. HollyFrontier has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

HFC Management

 What is the CEO of HollyFrontier's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
George Damiris
COMPENSATION $11,350,368
AGE 59
TENURE AS CEO 3.5 years
CEO Bio

Mr. George J. Damiris has been the Chief Executive Officer and President of HollyFrontier Corporation since January 1, 2016. Mr. Damiris has been Chief Executive Officer of Holly Logistic Services, LLC, the General Partner of Holly Energy Partners L.P. since November 1, 2016 and has been its President since February 2017. He served as Chief Operating Officer and Executive Vice President of HollyFrontier Corporation from September 11, 2014 to January 2016. He served as Senior Vice President of Supply & Marketing at HollyFrontier Corporation from January 7, 2008 to September 2014. He joined Holly in June 2007 as Vice President of Corporate Development. He served as President for Intermediates business of INVISTA S.à r.l. from January 2006 to May 2007 and as its Vice President of Corporate Development from January 2004 to December 2005. He served as the Managing Director of Capital Markets, responsible for capital market transactions, Managing Director of Ventures responsible for venture capital investments. Mr. Damiris has extensive industry experience and significant insight into issues facing the industry. His knowledge of the day-to-day operations of hfc provides a significant resource for the board and facilitates discussions between the board and hfc management. Mr. Damiris was with Koch Industries, Inc. and its affiliates since 1989 and served as Vice President of Koch Ventures, Inc. He served as Vice President of Koch Telecom Ventures, Inc. He served as Executive Vice President of Koch's refining group from 1996 to 1997, Vice President of Koch's chemical group from 1995 to 1996 and President of Koch's gas services group from 1994 to 1995. He started Koch's international chemicals trading business and served as its Vice President of Koch Supply and Trading since 1992. From 1989 to 1992, he served as Business Development Manager of Koch's petroleum group. Prior to joining Koch, he held various positions in British Petroleum's refining and chemicals divisions for 8 years. He has been a Director at Eagle Materials Inc. since September 27, 2016 and HollyFrontier Corporation since December 7, 2015. He has been Director of Holly Logistic Services, LLC, the General Partner of Holly Energy Partners L.P. since February 2, 2016. He serves as a Director of 3DI LLC, PF.Net Holdings Limited, Koch Telecom Ventures Inc., and Sea Breeze Communication Company. Mr. Damiris holds a BS in Chemical Engineering and an MBA from Case Western Reserve University.

CEO Compensation
  • George's compensation has been consistent with company performance over the past year, both up more than 20%.
  • George's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the HollyFrontier management team in years:

5
Average Tenure
59.5
Average Age
  • The average tenure for the HollyFrontier management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

George Damiris

TITLE
CEO, President & Director
COMPENSATION
$11M
AGE
59
TENURE
3.5 yrs

Rich Voliva

TITLE
CFO & Executive VP
COMPENSATION
$3M
AGE
41
TENURE
2.3 yrs

Denise Mcwatters

TITLE
Senior VP
COMPENSATION
$2M
AGE
59
TENURE
11.2 yrs

James Stump

TITLE
Senior Vice President of Refining
COMPENSATION
$2M
AGE
51
TENURE
8 yrs

Tom Creery

TITLE
Senior Vice President of Commercial
COMPENSATION
$2M
AGE
60
TENURE
3.5 yrs

John Gann

TITLE
Chief Accounting Officer
AGE
61

Craig Biery

TITLE
Director of Investor Relations

William Gray

TITLE
Senior VP
COMPENSATION
$110K
AGE
78

Paige Kester

TITLE
Vice President of Aquisitions & Corporate Development
TENURE
6.5 yrs

Jack Reid

TITLE
Executive VP
COMPENSATION
$272K
AGE
83
Board of Directors Tenure

Average tenure and age of the HollyFrontier board of directors in years:

8.5
Average Tenure
64.5
Average Age
  • The tenure for the HollyFrontier board of directors is about average.
Board of Directors

Franklin Myers

TITLE
Chairman of the Board
COMPENSATION
$299K
AGE
66
TENURE
0.4 yrs

George Damiris

TITLE
CEO, President & Director
COMPENSATION
$11M
AGE
59
TENURE
3.6 yrs

Lel Echols

TITLE
Independent Director
COMPENSATION
$310K
AGE
63
TENURE
10.5 yrs

Mike Jennings

TITLE
Director
COMPENSATION
$467K
AGE
53
TENURE
8.5 yrs

Doug Bech

TITLE
Independent Lead Director
COMPENSATION
$331K
AGE
73

Bob Kostelnik

TITLE
Independent Director
COMPENSATION
$309K
AGE
67
TENURE
8.5 yrs

Mike Rose

TITLE
Independent Director
COMPENSATION
$303K
AGE
72
TENURE
8.5 yrs

James Lee

TITLE
Independent Director
COMPENSATION
$283K
AGE
70
TENURE
8.5 yrs

Anne-Marie Ainsworth

TITLE
Independent Director
COMPENSATION
$285K
AGE
63
TENURE
1.7 yrs

Anna Catalano

TITLE
Independent Director
COMPENSATION
$283K
AGE
60
TENURE
1.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by HollyFrontier individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
09. May 19 Buy Franklin Myers Individual 09. May 19 09. May 19 2,900 $42.78 $124,062
25. Feb 19 Sell Michael Jennings Individual 22. Feb 19 22. Feb 19 -9,000 $55.27 $-497,430
15. Feb 19 Sell Turtle Creek Management, LLC Company 20. Dec 18 24. Dec 18 -17,000 $51.06 $-844,080
04. Dec 18 Sell Robert Kostelnik Individual 30. Nov 18 03. Dec 18 -1,500 $62.29 $-92,429
X
Management checks
We assess HollyFrontier's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. HollyFrontier has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

HFC News

Simply Wall St News

An Intrinsic Calculation For HollyFrontier Corporation (NYSE:HFC) Suggests It's 26% Undervalued

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF ($, Millions) $1.1b $807.5m $780.8m $769.1m $767.3m $772.4m $782.2m $795.7m $811.7m $829.9m Growth Rate Estimate Source Analyst x6 Analyst x2 Est @ -3.31% Est @ -1.5% Est @ -0.23% Est @ 0.66% Est @ 1.28% Est @ 1.71% Est @ 2.02% Est @ 2.23% Present Value ($, Millions) Discounted @ 9.47% $998.3 $673.8 $595.1 $535.5 $488.0 $448.7 $415.2 $385.7 $359.5 $335.7 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= $5.2b After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$830m × (1 + 2.7%) ÷ (9.5% – 2.7%) = US$13b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$13b ÷ ( 1 + 9.5%)10 = $5.12b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is $10.35b. … NYSE:HFC Intrinsic value, July 4th 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

You Have To Love HollyFrontier Corporation's (NYSE:HFC) Dividend

Dividend Growth Potential Given that the dividend has been cut in the past, we need to check if earnings are growing and if that might lead to stronger dividends in the future. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see HollyFrontier has grown its earnings per share at 11% per annum over the past five years. … Conclusion To summarise, shareholders should always check that HollyFrontier's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

Why HollyFrontier Corporation (NYSE:HFC) Is A Buy When Markets Go Down

High quality stocks such as HollyFrontier Corporation has fared well over time in a fickle stock market, which is why I want to bring it into light amongst all the chaos. … Next Steps: HollyFrontier makes for a robust long-term investment based on its scale, financial health and track record. … We aim to bring you long-term focused research analysis driven by fundamental data.

Simply Wall St -

Have Insiders Been Selling HollyFrontier Corporation (NYSE:HFC) Shares?

So before you buy or sell HollyFrontier Corporation (NYSE:HFC), you may well want to know whether insiders have been buying or selling. … See our latest analysis for HollyFrontier HollyFrontier Insider Transactions Over The Last Year In the last twelve months, the biggest single sale by an insider was when the CEO, President &amp; Director, George Damiris, sold US$4.2m worth of shares at a price of US$80.67 per share. … Insider Ownership of HollyFrontier Many investors like to check how much of a company is owned by insiders.

Simply Wall St -

If You Had Bought HollyFrontier (NYSE:HFC) Shares Three Years Ago You'd Have Made 57%

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … HollyFrontier was able to grow its EPS at 29% per year over three years, sending the share price higher. … It is important to consider the total shareholder return, as well as the share price return, for any given stock.

Simply Wall St -

Is HollyFrontier Corporation (NYSE:HFC) Excessively Paying Its CEO?

First, this article will compare CEO compensation with compensation at similar sized companies. … See our latest analysis for HollyFrontier How Does George Damiris's Compensation Compare With Similar Sized Companies? … We compared the total CEO remuneration paid by HollyFrontier Corporation, and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

If You Like EPS Growth Then Check Out HollyFrontier (NYSE:HFC) Before It's Too Late

Therefore, there are plenty of investors who like to buy shares in companies that are growing EPS. … Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth. … The good news is that HollyFrontier is growing revenues, and EBIT margins improved by 2.5 percentage points to 9.2%, over the last year.

Simply Wall St -

Why We Like HollyFrontier Corporation’s (NYSE:HFC) 17% Return On Capital Employed

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Is HollyFrontier Corporation's (NYSE:HFC) Liquidity Good Enough?

Small and large cap stocks are widely popular for a variety of reasons, however, mid-cap companies such as HollyFrontier Corporation (NYSE:HFC), with a market cap of US$8.4b, often get neglected by retail investors. … However, history shows that overlooked mid-cap companies have performed better on a risk-adjusted manner than the smaller and larger segment of the market. … Let’s take a look at HFC’s debt concentration and assess their financial liquidity to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures.

Simply Wall St -

Is HollyFrontier Corporation's (NYSE:HFC) P/E Ratio Really That Good?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at HollyFrontier Corporation's (NYSE:HFC) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

HFC Company Info

Description

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. The company offers its products to other refiners, convenience store chains, independent marketers, retailers, truck stop chains, wholesalers, railroads, governmental entities, and paving contractors or manufacturers, as well as for commercial airline use. It owns and operates 5 refineries with a combined crude oil processing capacity of approximately 457,000 barrels per day in El Dorado, Kansas; Tulsa, Oklahoma; Artesia, New Mexico; Cheyenne, Wyoming; and Woods Cross, Utah. The company also owns and operates vacuum distillation and other facilities in Lovington, New Mexico, as well as asphalt terminals in Arizona, New Mexico, and Oklahoma. Its refineries serve markets in the Mid-Continent, Southwest, and Rocky Mountain regions of the United States. In addition, HollyFrontier Corporation produces base oils and other specialized lubricant products; and owns and operates logistic assets consisting of petroleum product and crude oil pipelines, terminals, tankage, loading rack facilities, and refinery processing units. The company was formerly known as Holly Corporation and changed its name to HollyFrontier Corporation as a result of its merger with Frontier Oil Corporation in July 2011. HollyFrontier Corporation was founded in 1947 and is headquartered in Dallas, Texas.

Details
Name: HollyFrontier Corporation
HFC
Exchange: NYSE
Founded: 1947
$8,229,581,591
169,542,266
Website: http://www.hollyfrontier.com
Address: HollyFrontier Corporation
2828 North Harwood,
Suite 1300,
Dallas,
Texas, 75201,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE HFC Common Stock New York Stock Exchange US USD 02. Jan 1968
DB HL8 Common Stock Deutsche Boerse AG DE EUR 02. Jan 1968
Number of employees
Current staff
Staff numbers
3,622
HollyFrontier employees.
Industry
Oil and Gas Refining and Marketing
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/14 23:37
End of day share price update: 2019/07/12 00:00
Last estimates confirmation: 2019/07/12
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.