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HollyFrontier Raises Dividend Following Q1 Earnings Beat - Analyst Blog

On May 13, 2015, oil refiner HollyFrontier CorporationHFC declared an increase in its regular cash dividend. The market responded favorably to the announcement as shares of the company have gained over 3%.

The company declared quarterly dividend of 33 cents, up from the prior payout of 32 cents. This translates into an impressive yield of 3.1%. The new dividend will be paid on Jun 26 to shareholders on record as of Jun 5, 2015.

The raise marks the seventh increase for the firm since its merger in Jul 2011. The company remains committed to return cash to shareholders through dividends and share repurchases.

Earlier this month, HollyFrontier had announced that its board of directors had approved a $1 billion share repurchase program. The company has returned $2.9 billion to shareholders since its merger.

On the earnings front, the company reported strong numbers. This, however, marks the company first beat in the past four quarters. First-quarter earnings of $1.16 surpassed the Zacks Consensus Estimate as well as the year-ago quarter earnings, both of which were 76 cents. Strong refining margins supported the result. With crude prices expected to remain weak throughout 2015, HollyFrontier earnings are likely to continue the earnings beat.

HollyFrontier is an independent petroleum refiner operating in the U.S. The company operates through two segments - Refining and HEP. Currently, HollyFrontier holds a Zacks Rank #2 (Buy).

Other stocks worth considering from the same industry include Sprague Resources LP SRLP , Marathon Petroleum Corporation MPC and EnLink Midstream, LLC ENLC . While Sprague Resources sports a Zacks Rank #1 (Strong Buy), Marathon Petroleum and EnLink Midstream hold the same rank as HollyFrontier.

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HOLLYFRONTIER (HFC): Free Stock Analysis Report

MARATHON PETROL (MPC): Free Stock Analysis Report

ENLINK MIDS LLC (ENLC): Free Stock Analysis Report

SPRAGUE RESRCS (SRLP): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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