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HollyFrontier Corporation Message Board

  • christophmil@sbcglobal.net christophmil Oct 30, 2013 3:24 PM Flag

    Back to the 50's

    Good volume and over 3% so far. We'll see if this is a head fake into earnings.

    Sentiment: Hold

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    • Bouncing off 50-day MA. Why is it doing that?

    • Dream on dreamer, you will see $30s before you EVER see $50. If you are holding HFC, your name is Mudd.

      • 2 Replies to rwh4fshg
      • christophmil@sbcglobal.net christophmil Nov 25, 2013 1:54 PM Flag

        Think the 30's are years away Dr. Mudd.
        Dreamer in Refinery Land

        Sentiment: Hold

      • but the reality of it is... We will still see it hit $50 ....... learn to look at the business rather than the daily stock price... unless your day trading. not that you can't make money shorting the stock here and there.... but I sure wouldn't short it with a naked position. Make sure you have your options in place. remember this... buying long you can only lose 100% of your $.. if a stock goes to "0"... going short the losses can go well beyond 100% if the stock runs up. "small tip from your uncle larry.... Stocks 102" the stuff they don't teach you in the 101 class..

        Sentiment: Buy

    • earnings 5.32b 82.3net 41.cents per share

    • .Momentum is building with price consolidation around 200 day avg. Pointing at ex div date for a peak. then what???

    • Operating Costs and Expenses Highlights

      Operating costs and expenses were $43.6 million and $129.6 million for the three and nine months ended September 30, 2013, representing increases of $5.1 million and $15.7 million over the respective periods of 2012. These increases are due to higher throughput levels on our assets, as well as year-over-year increases in maintenance costs, environmental accruals, employee costs and depreciation expense due to asset abandonment charges related to tankage permanently removed from service. Operating expenses for the three and nine months ended September 30, 2013 were reduced by $3.5 million due to a net tax refund related to payroll costs covering a multi-year period.

    • -- Revenues from our crude pipelines were $13.0 million, an increase of $0.7 million, on shipments averaging 172.6 mbpd compared to 187.9 mbpd for the third quarter of 2012. Although crude oil pipeline shipments were down, revenues increased due to the annual tariff increases and minimum quarterly revenue billings on segments where volumes decreased.

      -- Revenues from terminal, tankage and loading rack fees were $31.7 million, an increase of $3.2 million compared to the third quarter of 2012. The increase in revenues is due to annual fee increases and higher tank cost reimbursement receipts from HFC. Refined products terminalled in our facilities averaged 326.0 mbpd compared to 325.1 mbpd for the third quarter of 2012.

      Revenues for the three months ended September 30, 2013 include the recognition of $0.2 million of prior shortfalls billed to shippers in 2012, as they did not meet their minimum volume commitments within the contractual make-up period. As of September 30, 2013, shortfall deferred revenue in our consolidated balance sheet was $11.2 million. Such deferred revenue will be recognized in earnings either as payment for shipments in excess of guaranteed levels, if and to the extent the pipeline system will not have the necessary capacity for shipments in excess of guaranteed levels, or when shipping rights expire unused over the contractual make-up period.

      Nine Months Ended September 30, 2013 Revenue Highlights

    • announced New Mexico crude gathering expansion project will be completed in phases starting this fall. We expect this project will begin contributing to our results during the first quarter of 2014.

      "As we look forward we believe HEP is well positioned due to the quality and geographic location of our assets, our superior employee base, and our financially strong and supportive general partner, HollyFrontier. HEP's future growth is underpinned by strong industry fundamentals, planned capital projects and our existing long-term fee-based contracts with built-in annual escalators."

      Third Quarter 2013 Revenue Highlights

      Revenues for the quarter were $77.7 million, a $3.7 million increase compared to the third quarter of 2012 due to the effect of annual tariff increases combined with higher cost reimbursement receipts from HFC. Overall pipeline volumes were down 3% compared to the three months ended September 30, 2012.

      -- Revenues from our refined product pipelines were $26.4 million, an increase of $0.6 million primarily due to the effect of annual tariff increases. Shipments averaged 175.1 thousand barrels per day ("mbpd") compared to 180.4 mbpd for the third quarter of 2012.

      -- Revenues from our intermediate pipelines were $6.6 million, a decrease of $0.8 million, on shipments averaging 136.3 mbpd compared to 132.2 mbpd for the third quarter of 2012. Although overall intermediate pipeline shipments were up, revenues decreased due to the effects of a $0.5 million decrease in deferred revenue realized and decreased volumes on certain pipeline segments.

    • Holly Energy Partners, L.P. Reports Third Quarter Results

      Oct 30, 2013 07:45:00 (ET)

      DALLAS, Oct 30, 2013 (BUSINESS WIRE) -- Holly Energy Partners, L.P. ("HEP" or the "Partnership") today reported financial results for the third quarter of 2013. For the quarter, distributable cash flow was $43.9 million, up $3.4 million, or 8% compared to the third quarter of 2012. HEP announced its 36th consecutive distribution increase on October 25, 2013, raising the quarterly distribution from $0.4850 to $0.4925 per unit, representing a 6% increase over the distribution for the third quarter of 2012.

      Net income for the second quarter was $23.1 million compared to $23.8 million for the third quarter of 2012. The decrease in net income is due principally to increased depreciation resulting from asset abandonment charges for tankage permanently removed from service, partially offset by increased revenues and a payroll related tax refund. Though accounting rules require us to write down tank assets that are replaced or taken out of service, HEP's cash flow is not affected since minimum commitments do not change and costs to construct the replacement tanks are, in certain cases, reimbursed per the terms of our contracts with HollyFrontier Corporation ("HFC"). Net income attributable to Holly Energy Partners for the third quarter was $21.9 million ($0.25 per basic and diluted limited partner unit) compared to $23.3 million ($0.32 per basic and diluted limited partner unit) for the third quarter of 2012. The additional decrease in net income attributable to Holly Energy Partners is due principally to allocations of income to noncontrolling interests.

      Commenting on the third quarter of 2013, Matt Clifton, Chairman of the Board and Chief Executive Officer, stated, "We are pleased that financial results for the third quarter of 2013 allowed us to continue our record of raising our quarterly distribution in all quarters since our initial public offering nine years ago. Our previously

 
HFC
44.51+0.74(+1.69%)Nov 21 4:01 PMEST

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