Holly Frontier Corp (NYSE:HFC) recently reported that its Board of Directors has supported a $350 million share buyback plan.
The authorization is as well as the almost $60 million remaining under the $350 million share buyback plan that was reported by the corporation in January.
The share buyback will be made in the open market or through privately negotiated transactions during different time and are subject to market circumstances, corporate, regulatory and other concerns
President and Chief Executive Officer of HollyFrontier Mike Jennings stated that their Board’s decision to authorize a second $350 million share buyback plan reflects their constant commitment to deliver value to their shareholders.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Valero Energy Corporation (NYSE:VLO) increased +0.92% to settle at $24.15, Alon USA Energy, Inc. (NYSE:ALJ) moved up +3.93% to end at $8.46 while Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) jumped +2.46% to finish on Friday at $23.78.
HollyFrontier Corp (NYSE:HFC) last session volume of 5.95 million shares was higher than its average volume of 3.93 million shares. The stock after opening at $34.99 hit high price of $36.10 and then closed at $35.43 by scoring +4.24%.
HFC generated revenue of 18.04 billion in the following twelve months and earned $1.18 billion. The Company showed a positive 6.74% in the net profit margin and as well as in its operating margin which remained 10.98%. Company’s annual sales growth for the past five years was +30.86%.
The HFC past twelve months price to sales ratio was 0.41 and price to cash ratio remained 3.85. As far as the returns are concern, the HFC return on equity was recorded as +39.76% and increased +27.44% return on investment while its return on asset stayed at +17.65%.
The stock showed weekly upbeat performance of +8.78% which was maintained for the month at +20.76%. Likewise the positive performance for the quarter was recorded as +10.75% and for the year was +3.60% while the YTD performance remained at +52.58%.
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