hollyfrontier corp (HFC) Key Developments
Tesoro Reportedly Held Talks To Acquire HollyFrontier
Jul 30 15
Tesoro Corporation (NYSE:TSO) had held discussions regarding acquisition of HollyFrontier Corporation (NYSE:HFC) in the first quarter of 2015, people familiar with the matter said. The sources stated that the negotiations were scuttled after HollyFrontier's Board of Directors balked at Tesoro's terms, including the proposed price. HollyFrontier has a market capitalization of around $9 billion. Tesoro is still interested in a deal and the talks may be revived, the people said. HollyFrontier's shares rose over 7% on the news.
HollyFrontier Corporation Announces Redemption of 6 7/8% Senior Notes Due 2018
May 18 15
HollyFrontier Corporation announced that it will redeem all of its outstanding 6 7/8% Senior Notes due 2018. The aggregate principal amount outstanding of the notes is $150,000,000. The redemption price for the notes will be equal to 103.4375% of the principal amount thereof, plus accrued and unpaid interest, for a total payment to holders of the Notes of approximately $156,073,000 in the aggregate. The redemption of the Notes is scheduled to occur on June 17, 2015. The company intends to fund the redemption with cash on hand. On and after the redemption date, the notes will no longer be deemed outstanding, interest will cease to accrue thereon and all rights of the holders of the notes will cease, except for the right to receive the redemption price.
HollyFrontier Corporation Announces Increase in Regular Cash Dividend, Payable on June 26, 2015
May 13 15
HollyFrontier Corporation announced that its Board of Directors approved an increase in the Company's regular quarterly dividend to $0.33 per share from the previous rate of $0.32 per share. This is the seventh increase in the regular dividend since merger in July of 2011. The dividend will be paid on June 26, 2015 to holders of record of common stock on June 5, 2015.
HollyFrontier Corporation Announces Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Capital Expenditure Guidance for the Full Year of Fiscal 2015
May 6 15
HollyFrontier Corporation announced unaudited consolidated earnings and operating results for the first quarter ended March 31, 2015. The company reported net income attributable to HollyFrontier stockholders of $226.9 million or $1.16 per diluted share for the quarter ended March 31, 2015, compared to $152.1 million or $0.76 per diluted share for the quarter ended March 31, 2014. Revenue was $3.0 billion, down from $4.79 billion a year prior. For the first quarter, net income attributable to stockholders increased by $74.8 million compared to the same period of 2014, principally reflecting higher first quarter refining margins. For the first quarter of 2015, net cash provided by operations totaled $246.9 million. Income from operations was $388,622,000 against $270,996,000 a year ago. Income before income taxes was $372,389,000 against $251,576,000 a year ago. EBITDA was $445,808,000 against $338,842,000 a year ago. Capital expenditures were $172,619,000 against $124,281,000 a year ago.
Production levels averaged approximately 431,000 barrels per day and crude oil charges averaged 417,000 BPD for the current quarter. First quarter throughput was approximately 417,000 barrels per day.
The company provided capital expenditure guidance for the full year of fiscal 2015. In 2015, the company expects to spend between $600 million and $650 million in capital. And additionally, the company expects to spend about $70 million on tanks and turnarounds.
HollyFrontier Corporation Presents at Credit Suisse 23rd Annual Offshore Technology Conference Tour, May-04-2015 06:00 PM
May 1 15
HollyFrontier Corporation Presents at Credit Suisse 23rd Annual Offshore Technology Conference Tour, May-04-2015 06:00 PM. Venue: The Four Seasons Houston, 1300 Lamar Street, Houston, TX 77010, United States. Speakers: Franklin Myers, Director, Chairman of Nominating/Corporate Governance Committee, Member of Executive Committee and Member of Compensation Committee.