WNR spiked up on over 2MM shares also + it went up over 1/share in the last 1/2 hr. I thought it was the company buying back shares in HFC but there maybe something going on between these 2. I hope not as I don't want to see HFC tied up with this debt laden concern with questionable refinery maintenance over the years. But this does look suspicious.
WNR is looking at earning ~190MM this year + 150MM next year + they almost never hit earnings estimates. They have net debt of over 600MM. That would take them over 4 years just to pay back debt and if all the doom sayers are right and spreads disappear from midcon refiners much longer. Add to that HFC would be paying a premium to that dud + the ROI would be somewhere around 20 years.
still got the 2 loads I got at 9.25 & 9.35 hasn't done much... may take the acorn next week if it doesn't go above 10.75 soon, been holding a bunch of ssn cost average 2.32 I think. Mostly just working the trio and FN, NSH, couple other small plays. Anyways I check over here to read you guys couple times a day when I can. You are missed over there is is good to have diverse opinions keeps it interesting as long as everyone's civil.Does lean a little to the right most of the time as I do also, but not always.
Looking at today's action, it appears it was HFC buying at the end of the day as there was no follow through today and now down big, and volume bringing it down is small, like MM's are back in control pushing it down.
why would both stocks go up? if HFC was buying WNR, HFC should go down. It's almost like someone got the hint that either HFC or WNR was being bought out and they didn't know which one so they bought both. HFC is 4X WNR so HFC should go down if they buy WNR (please, I don't need more lower subs). Let's hope it was someone interested in HFC and they get taken over. Doubt that happens. Bet we go back to 32 today. market looking lower.
Are you kidding?
No way would the Feds block this marriage ..... Remember Exxon and Mobil?
Of course they would allow it.
WNR is a company with junk assets ...but their stock is a beautiful thing to manipulate ...until it isn't .
HFC needs to spend its capital on improving the Holly assets from their merger . Frontiers assets are very good . Holly had questionable assets in a good neighborhood .
I Mario is wrong , very wrong...if HFC buys WNR , I for one will never be back. Not that they will miss me...just saying...
WNR is looked as a take over candidate. Massive insider ownership. Thats why the street loves WNR. They need major overhauls on the remaining 2 refineries and a mountain of debt. What a joke. Mid cont refiners will continue to rule for another 2 years.