Company profile

Ticker
HFC
Exchange
CEO
George J. Damiris
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
Holly Corp
SEC CIK
IRS number
751056913

HFC stock data

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FINRA relative short interest over last month (20 trading days) ?

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

20 Feb 20
6 Apr 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Dec 19 Sep 19 Jun 19 Mar 19
Revenue 4.38B 4.42B 4.78B 3.9B
Net income 60.61M 261.81M 196.92M 253.06M
Diluted EPS 0.37 1.58 1.15 1.47
Net profit margin 1.38% 5.92% 4.12% 6.49%
Operating income 129.18M 426.78M 331.74M 389.34M
Net change in cash -96.69M 67.21M 418.51M -658.61M
Cash on hand 885.16M 981.86M 914.64M 496.14M
Cost of revenue 3.61B 3.4B 3.7B 3.2B
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 17.49B 17.71B 14.25B 10.54B
Net income 772.39M 1.1B 805.4M -260.45M
Diluted EPS 4.61 6.19 4.52 -1.48
Net profit margin 4.42% 6.20% 5.65% -2.47%
Operating income 1.28B 1.62B 900.54M -102.58M
Net change in cash -269.59M 524M -79.82M 644.05M
Cash on hand 885.16M 1.15B 630.76M 710.58M
Cost of revenue 13.92B 13.94B 11.47B 8.77B

Financial data from company earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
12 Mar 20 Voliva Richard Lawrence III Common Stock Buy Aquire P 19.95 10,000 199.5K 86,415
11 Mar 20 Voliva Richard Lawrence III Common Stock Buy Aquire P 21.54 10,000 215.4K 76,415
31 Dec 19 George John Damiris Common Stock Grant Aquire A 50.71 131,414 6.66M 488,801
23 Dec 19 Thomas G Creery Common Stock Sell Dispose S 51.5 9,707 499.91K 106,081
20 Dec 19 Thomas G Creery Common Stock Sell Dispose S 51.5 293 15.09K 115,788
20 Dec 19 Thomas G Creery Common Stock Sell Dispose S 51 5,000 255K 116,081
18 Dec 19 Voliva Richard Lawrence III Common Stock Sell Dispose S 50.88 20,000 1.02M 66,415
85.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 501 493 +1.6%
Opened positions 74 68 +8.8%
Closed positions 66 52 +26.9%
Increased positions 169 148 +14.2%
Reduced positions 200 199 +0.5%
13F shares
Current Prev Q Change
Total value 66.84B 94.04B -28.9%
Total shares 138.2M 136.86M +1.0%
Total puts 1.35M 1.24M +8.8%
Total calls 1.18M 1.36M -13.5%
Total put/call ratio 1.2 0.9 +25.8%
Largest owners
Shares Value Change
Vanguard 17.99M $912.05M -0.5%
BLK BlackRock 15.19M $770.37M +4.2%
TCTC 12.43M $630.36M -0.8%
STT State Street 9.43M $478.14M +3.7%
Dimensional Fund Advisors 5.09M $258.31M +2.7%
GS Goldman Sachs 3.68M $186.68M -11.6%
BK Bank Of New York Mellon 3.34M $169.21M +4.5%
APG Asset Management 3.02M $136.33M -2.1%
Ajo 2.99M $151.44M -12.7%
Aqr Capital Management 2.87M $144.84M -15.7%
Largest transactions
Shares Bought/sold Change
Norges Bank 1.91M +1.91M NEW
Citadel Advisors 30.79K -1.38M -97.8%
Alliancebernstein 1.73M +1.35M +354.5%
Encompass Capital Advisors 0 -785.05K EXIT
BLK BlackRock 15.19M +617.01K +4.2%
Marshall Wace North America 618.85K +570.6K +1182.5%
Aqr Capital Management 2.87M -534.32K -15.7%
GS Goldman Sachs 3.68M -482.89K -11.6%
FMR 789.23K -459.2K -36.8%
Polaris Greystone Financial 450.56K +450.56K NEW

Financial report summary

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Risks
  • The prices of crude oil and refined and finished lubricant products materially affect our profitability, and are dependent upon many factors that are beyond our control, including general market demand and economic conditions, seasonal and weather-related factors, regional and grade differentials and governmental regulations and policies.
  • There are various risks associated with greenhouse gases and climate change that could result in increased operating costs and litigation and reduced demand for the refined products we produce and investment in our industry.
  • The availability and cost of renewable identification numbers and other required credits could have an adverse effect on our financial condition and results of operations.
  • To successfully operate our facilities, we are required to expend significant amounts for capital outlays and operating expenditures. If we are unable to complete capital projects at their expected costs or in a timely manner, or if the market conditions assumed in our project economics deteriorate, our financial condition, results of operations, or cash flows could be materially and adversely affected.
  • Cyberattacks or security breaches could have a material adverse effect on our business, financial condition and results of operations.
  • Competition in the refining and marketing industry is intense, and an increase in competition in the markets in which we sell our products could adversely affect our earnings and profitability.
  • The market for our lubricants and specialty products segment is highly competitive and requires us to continuously develop and introduce new products and product enhancements.
  • Our acquisition strategy involves numerous risks, any of which could adversely affect us.
  • We incur significant costs, and expect to incur additional costs in the future, to comply with existing, new and changing environmental, energy, health and safety laws and regulations, and face potential exposure for environmental matters.
  • Our wholesale purchases and sales of crude oil and certain petroleum products expose us to potential regulatory risks.
  • Our operations are subject to catastrophic losses, operational hazards and unforeseen interruptions and other disruptive risks for which we may not be adequately insured.
  • An impairment of our long-lived assets or goodwill could reduce our earnings or negatively impact our financial condition and results of operations.
  • A disruption to or proration of the refined product distribution systems or manufacturing facilities we utilize could negatively impact our profitability.
  • A material decrease in the supply of crude oil or other raw materials available to our refineries and other facilities could significantly reduce our production levels and negatively affect our operations.
  • We may be subject to information technology system failures, communications network disruptions and data breaches.
  • Our business is subject to complex and evolving U.S. and foreign laws, regulations and security standards regarding privacy, cybersecurity and data protection (“data protection laws”). Many of these laws are subject to change and uncertain interpretation, and could result in claims, increased cost of operations, or otherwise harm our business.
  • We may not be able to obtain funding on acceptable terms or at all because of volatility and uncertainty in the credit and capital markets. This may hinder or prevent us from meeting our future capital needs.
  • We depend upon HEP for a substantial portion of the crude supply and distribution network that serve our refineries, and we own a significant equity interest in HEP.
  • We are exposed to the credit risks, and certain other risks, of our key customers and vendors.
  • Terrorist attacks, and the threat of terrorist attacks or domestic vandalism, have resulted in increased costs to our business. Continued global hostilities or other sustained military campaigns may adversely impact our results of operations.
  • We may be unable to pay future dividends.
  • Potential product, service or other related liability claims and litigation could adversely affect our business, reputation and results of operations.
  • We sell many of our lubricants and specialty products through distributors, which presents risks that could adversely affect our operating results.
  • We may be unable to adequately protect our intellectual property, which may increase our cost of doing business or otherwise hurt our ability to compete in the market.
  • Our hedging transactions may limit our gains and expose us to other risks.
  • Changes in our credit profile, or a significant increase in the price of crude oil, may affect our relationship with our suppliers, which could have a material adverse effect on our liquidity and limit our ability to purchase sufficient quantities of crude oil to operate our refineries at desired capacity.
  • Our credit facility contains certain covenants and restrictions that may constrain our business and financing activities.
  • Our business may suffer due to a departure of any of our key senior executives or other key employees. Furthermore, a shortage of skilled labor may make it difficult for us to maintain labor productivity.
  • A portion of our workforce is unionized, and any disruptions in our labor force or adverse employee relations could adversely affect our business.
  • The market price of our common stock may fluctuate significantly, and the value of a stockholder’s investment could be impacted.
Management Discussion
  • Our operations are organized into three reportable segments, Refining, Lubricants and Specialty Products and HEP. See Note 20 “Segment Information” in the Notes to Consolidated Financial Statements for additional information on our reportable segments.
  • Net income attributable to HollyFrontier stockholders for the year ended December 31, 2019 was $772.4 million ($4.64 per basic and $4.61 per diluted share), a $325.6 million decrease compared to net income attributable to HollyFrontier stockholders of $1,098.0 million ($6.25 per basic and $6.19 per diluted share) for the year ended December 31, 2018. Net income decreased due principally to a goodwill impairment charge of $152.7 million and lower gross refining margins. For the year ended December 31, 2019, lower of cost or market inventory reserve adjustments increased pre-tax earnings by $119.8 million compared to a decrease of $136.3 million for the year ended December 31, 2018. Refinery gross margins for the year ended December 31, 2019 decreased to $15.96 per produced barrel from $17.71 for the year ended December 31, 2018. During 2019, our Cheyenne Refinery and Woods Cross Refinery were each granted a one-year small refinery exemption from the EPA for the 2018 calendar year, at which time we recorded a total $36.6 million reduction to our cost of products sold. During 2018, our Cheyenne Refinery was granted a one-year small refinery exemption from the EPA for the 2015 and 2017 calendar years and our Woods Cross Refinery was granted a one-year small refinery exemption for 2017. As a result of these exemptions, we recorded reductions totaling $97.0 million to our cost of products sold in 2018.
  • Sales and other revenues decreased 1% from $17,714.7 million for the year ended December 31, 2018 to $17,486.6 million for the year ended December 31, 2019 due to a year-over-year decrease in sales prices and lower refined product volumes. Sales and other revenues for the years ended December 31, 2019 and 2018 include $121.0 million and $108.4 million, respectively, in HEP revenues attributable to pipeline and transportation services provided to unaffiliated parties. Additionally, sales and other revenues included $2,081.2 million and $1,799.5 million in unaffiliated revenues related to our Lubricants and Specialty Products segment for the years ended December 31, 2019 and 2018, respectively. Sonneborn contributed $340.3 million in sales and other revenues for the year ended December 31, 2019.
Content analysis ?
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Constraining
Legalese
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