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HollyFrontier Corp HFC

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HollyFrontier Goes Big This Time as It Continues Acquisition Streak, Reports Q2 Earnings Recovery

Allen Good, CFA Sector Strategist

Analyst Note

| Allen Good, CFA |

Along with second-quarter results, HollyFrontier announced it will acquire Sinclair Oil for equity valued at $1.8 billion while Holly Energy Partners will acquire Sinclair Transportation for $758 million in cash and equity. The deal follows Holly’s acquisition earlier this year of Shell’s Puget Sound refinery (to close in the fourth quarter) and a string of petrochemical and lubricant acquisitions in the last few years.

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Company Profile

Business Description

HollyFrontier is an independent petroleum refiner that owns and operates four refineries serving the Rockies, midcontinent, and Southwest, with a total crude oil throughput capacity of 405,000 barrels per day. It is converting its Cheyenne petroleum refinery to renewable diesel. It also has a 57% ownership stake in Holly Energy Partners, which owns and operates petroleum product pipelines and terminals principally in the Southwestern United States.

2828 North Harwood, Suite 1300
Dallas, TX, 75201
T +1 214 871-3555
Sector Energy
Industry Oil & Gas Refining & Marketing
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Hard Assets
Employees 3,891