Archive for the ‘Oil Well Services and Equipment’ Category

As from reports on RTTNews.com

HollyFrontier Corp (NYSE:HFC) – Has released that its Q4 net income to stock holders has surged to $223.38 Million or $1.06 a share from $14.72 Million or $0.13 per share in previous year. The increase in  net income came from the effects of increased operating scale from the recent merger, and historically strong Q4 refining margins. The Overall gross margins were set at $15.32 per barrel produced. This was a staggering 95% increase from last year. Other key things to note is Sales as well as other revenues for Q4 had tremendous gains of $4.97 Billion from $2.21 Billion in the same quarter from a year prior. These revenues of which were mainly from the El Dorado, and Cheyenne refineries, and as well as 19 percent  increase in Q4 year over year product sale prices.

Mike Jennings, President & CEO of the company said, “We are delighted with our fourth quarter results as we conclude our first fiscal year as a combined company. Although overall product crack spreads narrowed during the quarter as the WTI crude differentials compressed, we generated solid profits for the quarter and remained near the top of our peer group in profitability per barrel.”

“Looking forward, the differentials between inland and coastal crudes are fairly robust, which should contribute favorably to our first quarter results,” Jennings added.

To some up the Quarter, HollyFrontier Corp. stated it currently has a $350 Million Share repurchase program in place, and will continue to pay out its regular quarterly dividend of $0.10 a share.

HollyFrontier Corp. (NYSE:HFC) – Currently is trading down $-1.03 (3.26%) at $32.07.

Currently Shares of HFC are rated a HOLD, and a Year Target of $35.00.

Advertisements

HollyFrontier Corporation (NYSE: HFC) – Announced today that its Board of Directors declared a special cash dividend in the amount of $0.50 per share, payable on March 13, 2012 to holders of record of common stock on March 5, 2012.

The Board of Directors also approved the regular dividend of $0.10 per share. This dividend will be paid on April 3, 2012 to all holders of record of common stock on March 16, 2012.

After the News was Released

“Our Board has just declared the Company’s third regular and special dividend since the merger formation of HollyFrontier in July 2011. In total, these dividends represent approximately $375 million or $1.79 per share. We believe these dividends represent a valuable component to build shareholder value and increase shareholder returns and we will continue to evaluate additional distributions with our Board of Directors on a quarterly basis.” – CEO + President, Mike Jennings.
HollyFrontier Corp (NYSE:HFC) – Finished the day off closing up 3.52% +1.17.

Currently I hold a Long Position in HFC, and have no plans to re position myself within the next 3 business days.

Transocean LTD.  (NYSE:RIG) – An Offshore drilling contractor. Transocean of who owns or operates mobile offshore drilling units, inland drilling barges, and many other assets utilized in the suppport of offshore drilling activities on a Worldwide Basis. Transocean also Specializes i technically demanding segments of the offshore drilling business, which includes harsh environmental drilling, and deepwater drilling services.

Transocean LTD. jumped over 7% percent in pre-market trading this morning after a court had ruled that it was covered from in there eyes could potentially have been billions in pollution claims related to disastrous Oil Spill in the Gulf of Mexico after Transoceans  rig exploded and sank. At the end of the day Transocean will still face punitive damages and civil penalties, Transoceans contract with BP protects it from a lot of the pollution claims. At the end of the day it is uncertain how much Transocean will pay out but they will pay out something however now it is for sure to be less than what was originally expected.

As I previously said in a post on 1/23/2011

“Since the New Year there has been a turnaround and a bounce back in share price up over 18% close to $7.00 a share trading today up 1% at $45.15.”

Shares of ahead of the bell are trading up 4% at $49.30!

Currently I Rate this Company a HOLD. Not only does Transocean have a big dividend at 0.79 a share but could see a decline in the dividend this coming year. This may mark for many to want to sell off, however if you are a long term investor you may want to wait out the storm, and hold onto this investment as there are many Consensus Analyst Price Target at or above $60.00 a share.