HollyFrontier (HFC) Announces $1B Stock Buyback Plan
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HollyFrontier Corporation Reports Quarterly Net Income
May 6, 2015 7:01 AM EDTDALLAS--(BUSINESS WIRE)-- HollyFrontier Corporation (NYSE: HFC) (HollyFrontier or the Company) today reported first quarter 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.
For the first quarter, net income attributable to our stockholders increased by $74.8 million compared to the same period of 2014, principally reflecting higher first quarter refining margins. Refinery gross margins were $16.69 per produced barrel, a 13% increase compared to $14.75 for the first quarter of 2014. Production levels averaged approximately 431,000 barrels per day (BPD) and crude oil... More
HollyFrontier Board of Directors Authorizes $1 Billion Share Repurchase Program
May 6, 2015 7:00 AM EDTDALLAS--(BUSINESS WIRE)-- HollyFrontier Corporation (NYSE: HFC) (HollyFrontier or the Company) today announced its Board of Directors has authorized a $1 billion share repurchase program. This authorization replaces all existing share repurchase authorizations, of which there was approximately $462 million remaining after having recently purchased approximately 1.4 million shares in the first quarter of 2015. Share repurchases will be made in the open market or through privately negotiated transactions from time to time and are subject to market conditions, corporate, regulatory and other considerations. This share repurchase program may be discontinued at any time by the Board of Directors.... More
