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HollyFrontier

DB:HL8
Snowflake Description

Established dividend payer with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HL8
DB
$4B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

HollyFrontier Corporation operates as an independent petroleum refiner and marketer in the United States. The last earnings update was 48 days ago. More info.


Add to Portfolio Compare Print
  • HollyFrontier has significant price volatility in the past 3 months.
HL8 Share Price and Events
7 Day Returns
13.3%
DB:HL8
8.7%
DE Oil and Gas
4.3%
DE Market
1 Year Returns
-44.5%
DB:HL8
34.4%
DE Oil and Gas
-14.2%
DE Market
HL8 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
HollyFrontier (HL8) 13.3% -4.8% -44.1% -44.5% - -
DE Oil and Gas 8.7% -2.8% -19.4% 34.4% -14.7% 157%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • HL8 underperformed the Oil and Gas industry which returned 34.4% over the past year.
  • HL8 underperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
HL8
Industry
5yr Volatility vs Market

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.

DB:HL8 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.9%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 DB:HL8
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.97
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.972 (1 + (1- 21%) (70.67%))
1.345
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.34
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.345 * 5.44%)
6.93%

Discounted Cash Flow Calculation for DB:HL8 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:HL8 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.93%)
2020 270.81 Analyst x5 253.27
2021 358.81 Analyst x5 313.83
2022 519.00 Analyst x1 424.53
2023 392.25 Est @ -24.42% 300.07
2024 324.73 Est @ -17.21% 232.33
2025 285.22 Est @ -12.17% 190.84
2026 260.60 Est @ -8.63% 163.07
2027 244.55 Est @ -6.16% 143.11
2028 233.72 Est @ -4.43% 127.91
2029 226.20 Est @ -3.22% 115.78
Present value of next 10 years cash flows $2,264.00
DB:HL8 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $226.20 × (1 + -0.39%) ÷ (6.93% – -0.39%)
$3,079.53
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,079.53 ÷ (1 + 6.93%)10
$1,576.28
DB:HL8 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,264.00 + $1,576.28
$3,840.28
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,840.28 / 161.88
$23.72
DB:HL8 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:HL8 represents 0.91644x of NYSE:HFC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.91644x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 23.72 x 0.91644
€21.74
Value per share (EUR) From above. €21.74
Current discount Discount to share price of €23.80
= -1 x (€23.80 - €21.74) / €21.74
-9.5%

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

  • The current share price of HollyFrontier is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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
DB:HL8 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $4.64
NYSE:HFC Share Price ** NYSE (2020-04-08) in USD $25.97
Europe Oil and Gas Industry PE Ratio Median Figure of 104 Publicly-Listed Oil and Gas Companies 6.5x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

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

** Primary Listing of HollyFrontier.

DB:HL8 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 25.97 ÷ 4.64

5.6x

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 Europe Oil and Gas industry average.
  • HollyFrontier is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does HollyFrontier's expected growth come at a high price?
Raw Data
DB:HL8 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
0.3%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 66 Publicly-Listed Oil and Gas Companies 0.32x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

DB:HL8 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.6x ÷ 0.3%

16.39x

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

  • HollyFrontier is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on HollyFrontier's assets?
Raw Data
DB:HL8 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $37.19
NYSE:HFC Share Price * NYSE (2020-04-08) in USD $25.97
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.01x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:HL8 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 25.97 ÷ 37.19

0.7x

* Primary Listing of HollyFrontier.

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

  • HollyFrontier is good value based on assets compared to the DE 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 3/6, 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.

Future Performance

 How is HollyFrontier expected to perform in the next 1 to 3 years based on estimates from 10 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
0.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is HollyFrontier expected to grow at an attractive rate?
  • HollyFrontier's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • HollyFrontier's earnings growth is positive but not above the Germany market average.
  • HollyFrontier's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:HL8 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:HL8 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 0.3%
DB:HL8 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts -0.1%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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
DB:HL8 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:HL8 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 16,920 1,014 636 1
2023-12-31 16,695 1,130 656 1
2022-12-31 16,323 1,126 794 3
2021-12-31 15,744 887 381 7
2020-12-31 13,225 548 -138 7
2020-04-08
DB:HL8 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 17,487 1,549 771
2019-09-30 17,449 1,836 852
2019-06-30 17,795 1,796 932
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

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • HollyFrontier's earnings are expected to grow by 0.3% yearly, however this is not considered high growth (20% yearly).
  • 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
DB:HL8 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 10 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.

DB:HL8 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 5.20 5.20 5.20 1.00
2023-12-31 4.70 4.70 4.70 1.00
2022-12-31 5.10 5.10 5.10 1.00
2021-12-31 2.36 3.95 0.86 5.00
2020-12-31 -0.27 1.28 -2.95 4.00
2020-04-08
DB:HL8 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 4.64
2019-09-30 5.04
2019-06-30 5.42
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

*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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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 1/6, 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.

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 Europe 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.

DB:HL8 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 17,486.58 771.35 326.66
2019-09-30 17,448.89 852.25 324.17
2019-06-30 17,794.87 932.12 313.24
2019-03-31 17,483.49 1,079.80 298.65
2018-12-31 17,714.67 1,094.25 283.07
2018-09-30 17,363.17 1,470.60 274.10
2018-06-30 16,311.62 1,400.25 265.43
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

*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 Europe 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.

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.

DB:HL8 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 6,509.43 2,495.64 885.16
2019-09-30 6,541.36 2,461.73 981.86
2019-06-30 6,531.00 2,465.63 914.64
2019-03-31 6,594.57 2,466.53 496.14
2018-12-31 6,459.06 2,411.54 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
  • HollyFrontier's level of debt (38.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (17.3% vs 38.3% today).
  • Debt is well covered by operating cash flow (62.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12x 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.

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
5.39%
Current annual income from HollyFrontier dividends. Estimated to be 5.64% next year.
If you bought €2,000 of HollyFrontier shares you are expected to receive €108 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 Germany (1.63%).
  • HollyFrontier's dividend is above the markets top 25% of dividend payers in Germany (4.61%).
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
DB:HL8 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 10 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 8.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

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

DB:HL8 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 1.74 1.00
2023-12-31 1.66 1.00
2022-12-31 1.53 4.00
2021-12-31 1.45 11.00
2020-12-31 1.41 11.00
2020-04-08
DB:HL8 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-12 1.400 5.168
2019-11-13 1.400 2.865
2019-10-31 1.320 2.436
2019-05-08 1.320 2.798
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

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 (3.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x 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 5/6, see the detailed checks below.


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

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
Mike Jennings
COMPENSATION $6,477,413
AGE 53
TENURE AS CEO 0.3 years
CEO Bio

Mr. Michael C. Jennings, also known as Mike, serves as Chief Executive Officer and President of HollyFrontier Corporation since January 1, 2020. Mr. Jennings serves as Chief Executive Officer at Holly Logistic Services since January 1, 2020. Mr. Jennings was the Chairman and Director of Montage Resources Corporation until December 13, 2019. Mr. Jennings served as Executive Vice President of HollyFrontier Corporation until January 1, 2020. Mr. Jennings is the Chairman and Director of Montage Resources Corporation. He has been a Director of HollyFrontier Corporation since July 1, 2011. He serves as Chief Executive Officer at Holly Energy Partners - Operating, L.P. Mr. Jennings also serves as Chief Executive Officer and President at HEP UNEV Pipeline LLC. Mr. Jennings served as Chief Executive Officer of Holly Logistic Services, LLC, a General Partner of Holly Energy Partners, L.P. from January 1, 2014 to November 1, 2016 and also served as its President from October 2015 to February 2016. Mr. Jennings served as the Chief Executive Officer and President of HollyFrontier Corporation since July 2011 until January 2016. Mr. Jennings served as President and Chief Executive Officer of Frontier from 2009 until the merger of Holly and Frontier in July 2011. He served as Executive Vice President and Chief Financial Officer of Frontier from 2005 until 2009. Mr. Jennings had been Non-Executive Chairman of HollyFrontier Corporation since January 1, 2017 until February 13, 2019 and served as its Chairman from January 1, 2013 to January 01, 2016 and its Executive Chairman from January 01, 2016 to January 1, 2017. Mr. Jennings served as the Chairman of the Board of Frontier Oil Corp. since April 28, 2010 until the merger in July 2011 and served as its Chief Executive Officer and President since January 1, 2009. He has many years of experience in finance and acquisitions with Cameron International Corporation (formerly, Cooper Cameron Corp.), Unimin Corp., British Petroleum and U.S. Trust Company of New York. Mr. Jennings served as the Executive Vice President of Finance & Administration and Chief Financial Officer of Frontier Oil Corp. from June 14, 2005 to January 1, 2009. He served as Vice President and Treasurer of Cameron International Corporation from May 2000 to June 2005. From December 1998 to May 2000, he served as Vice President of Finance and Corporate Development of Unimin Corporation. He has been Chairman of the Board at Blue Ridge Mountain Resources, Inc. since June 2016. He served as Director of Acquisitions and Corporate Finance at Cameron International Corporation from July 1995 to November 1998. He has been a Director of Holly Logistic Services, LLC, a General Partner of Holly Energy Partners, L.P. since October 18, 2011. He was Director of ION Geophysical Corporation since December 2, 2010 until February 8, 2019. He has been the Chairman of Holly Logistic Services LLC, a General Partner of Holly Energy Partners, L.P. since November 2017. He has been Independent Director of FTS International, Inc. since January 1, 2019. He served as a Director of Frontier Oil Corp. since November 2008 to July 2011. Mr. Jennings holds a Bachelor of Arts degree in Economics and Government from Dartmouth College and a Master of Business Administration degree in Finance and Accounting from the University of Chicago.

CEO Compensation
  • Mike's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Mike's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

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

3.1
Average Tenure
51
Average Age
  • The tenure for the HollyFrontier management team is about average.
Management Team

Mike Jennings

TITLE
CEO, President & Director
COMPENSATION
$6M
AGE
53
TENURE
0.3 yrs

Rich Voliva

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

James Stump

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

Tom Creery

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

John Gann

TITLE
Chief Accounting Officer
AGE
61

John Harrison

TITLE
VP of Finance
AGE
40
TENURE
1.6 yrs

Craig Biery

TITLE
Director of Investor Relations

Vaishali Bhatia

TITLE
Senior VP
AGE
36
TENURE
0.7 yrs

Paige Kester

TITLE
Vice President of Aquisitions & Corporate Development
TENURE
7.3 yrs
Board of Directors Tenure

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

9.3
Average Tenure
64.5
Average Age
  • The tenure for the HollyFrontier board of directors is about average.
Board of Directors

Franklin Myers

TITLE
Independent Chairman of the Board
COMPENSATION
$485K
AGE
66
TENURE
1.2 yrs

Mike Jennings

TITLE
CEO, President & Director
COMPENSATION
$6M
AGE
53
TENURE
9.3 yrs

Lel Echols

TITLE
Independent Director
COMPENSATION
$315K
AGE
63
TENURE
11.3 yrs

James Lee

TITLE
Independent Director
COMPENSATION
$301K
AGE
70
TENURE
9.3 yrs

Mike Rose

TITLE
Independent Director
COMPENSATION
$308K
AGE
72
TENURE
9.3 yrs

Doug Bech

TITLE
Independent Lead Director
COMPENSATION
$321K
AGE
73

Bob Kostelnik

TITLE
Independent Director
COMPENSATION
$314K
AGE
67
TENURE
9.3 yrs

Anne-Marie Ainsworth

TITLE
Independent Director
COMPENSATION
$290K
AGE
63
TENURE
2.4 yrs

Anna Catalano

TITLE
Independent Director
COMPENSATION
$288K
AGE
60
TENURE
2.4 yrs

R. Knocke

TITLE
Independent Director
COMPENSATION
$386K
AGE
49
TENURE
1.2 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 (€)
12. Mar 20 Buy Richard Voliva Individual 11. Mar 20 12. Mar 20 20,000 €19.47 €374,945
23. Dec 19 Sell Thomas Creery Individual 20. Dec 19 23. Dec 19 -10,000 €46.44 €-464,427
20. Dec 19 Sell Thomas Creery Individual 20. Dec 19 20. Dec 19 -5,000 €46.04 €-230,214
19. Dec 19 Sell John Gann Individual 18. Dec 19 18. Dec 19 -8,150 €45.70 €-372,433
19. Dec 19 Sell Richard Voliva Individual 18. Dec 19 18. Dec 19 -20,000 €45.75 €-915,026
21. Nov 19 Sell John Gann Individual 19. Nov 19 19. Nov 19 -7,052 €47.45 €-334,642
06. Aug 19 Buy Franklin Myers Individual 05. Aug 19 05. Aug 19 2,500 €44.44 €111,099
09. May 19 Buy Franklin Myers Individual 09. May 19 09. May 19 2,900 €38.09 €110,465
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.

News

Simply Wall St News

Company Info

Description

HollyFrontier Corporation operates as an independent petroleum refiner and marketer in the United States. The company operates through three segments: Refining, Lubricants and Specialty Products, and HEP. It primarily produces light products, such as gasoline, diesel fuel, jet fuel, and specialty lubricant products, as well as 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 five refineries with a combined crude oil processing capacity of approximately 457,000 barrels per stream 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, the company produces base oils and other specialized lubricant products; and owns and operates logistic and refinery assets consisting of petroleum product and crude oil pipelines, terminals, tankage, loading rack facilities, and refinery processing units. Further, it exports its products to approximately 80 countries. The company was formerly known as Holly Corporation and changed its name to HollyFrontier Corporation in July 2011. HollyFrontier Corporation was incorporated in 1947 and is headquartered in Dallas, Texas.

Details
Name: HollyFrontier Corporation
HL8
Exchange: DB
Founded: 1947
$3,866,105,910
161,883,593
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
BRSE HL8 Common Stock Berne Stock Exchange CH CHF 02. Jan 1968
Number of employees
Current staff
Staff numbers
4,074
HollyFrontier employees.
Industry
Oil and Gas Refining and Marketing
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 20:53
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/08
Last earnings filing: 2020/02/20
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.