July 12, 2018 - 7:20 AM EDT
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Blog Exposure - HollyFrontier to Buy Red Giant Oil

LONDON, UK / ACCESSWIRE / July 12, 2018 / If you want access to our free research report on HollyFrontier Corp. (NYSE: HFC), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HFC as the Company's latest news hit the wire. On July 10, 2018, the Company announced that it has inked a deal to acquire Red Giant Oil Co., which is a private family-owned lubricants Company. The financial details of the transaction remained undisclosed. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, HollyFrontier most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


The transaction, which is likely to close in Q3 2018, is subject to customary closing conditions. Following the acquisition, Red Giant Oil is expected to generate approximately $7.5 million in annual forecasted earnings before interest, tax, depreciation, and amortization (EBITDA) for HollyFrontier.

Transaction Demonstrates the Continued Growth of HollyFrontier's Lubricant Business

Commenting on the acquisition, George Damiris, President and Chief Executive Officer (CEO) of HollyFrontier, stated that the Company is pleased to announce the acquisition of Red Giant Oil, with its outstanding history and brand in the railroad lubricant industry. Damiris added that this transaction demonstrates the continued growth of the Company's lubricant business and brings outstanding value to HollyFrontier.

HollyFrontier's Last Acquisition Deal

In February 2017, the Company completed the previously-announced acquisition of Suncor Energy's Petro-Canada Lubricants (PCLI) business for CAD $1.125 billion, including working capital with an estimated value of CAD $342 million. All US and Canadian regulatory requirements were received. The deal was anticipated to be immediately accretive to the Company's earnings per share (EPS) and cash flow. The acquisition was previously announced in October 2016.

The Petro-Canada Lubricants plant, which is located in Mississauga, Ontario, was the largest producer of base oils in Canada with 15,600 barrels per day of lubricant production capacity, and is the only North American producer of high margin Group III base oils.

HollyFrontier's Update on Woods Cross Refinery Crude Unit

On March 23, 2018, the Company's subsidiary, Woods Cross refinery, located in West Bountiful, Utah, was running at reduced rates due to a crude unit fire that occurred on March 12, 2018. There were no reported injuries as a result of the fire. However, the refinery's ability to receive crude oil deliveries was affected. HollyFrontier was in the process of determining the scope of the damage resulting from the fire, the extent to which it will affect or delay crude oil deliveries, and the steps necessary to repair the damage. The Company did not anticipate the event having any material impact to its consolidated crude throughput guidance for Q1 2018.

About Red Giant Oil Co.

Headquartered in Council Bluffs, Iowa, Red Giant Oil is a private family-owned lubricants Company, and is one of the largest suppliers of locomotive engine oil in North America. Established in 1903, Red Giant Oil has storage facilities in Idaho, Utah, and Wyoming, along with a blending and packaging facility in Texas.

About HollyFrontier Corp.

Founded in 1947 and headquartered in Dallas, Texas, HollyFrontier is an independent petroleum refiner and marketer that produces high value light products such as gasoline, diesel fuel, jet fuel, and other specialty products. The subsidiaries of HollyFrontier produce and market gasoline, diesel, jet fuel, asphalt, heavy products, and specialty lubricant products.

Stock Performance Snapshot

July 11, 2018 - At Wednesday's closing bell, HollyFrontier's stock declined 2.45%, ending the trading session at $67.26.

Volume traded for the day: 2.53 million shares.

Stock performance in the last three-month - up 23.25%; previous six-month period - up 31.21%; past twelve-month period - up 147.19%; and year-to-date - up 31.32%

After yesterday's close, HollyFrontier's market cap was at $11.95 billion.

Price to Earnings (P/E) ratio was at 14.82.

The stock has a dividend yield of 1.96%.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Refining & Marketing industry.


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Source: ACCESSWIRE Investor Awareness (July 12, 2018 - 7:20 AM EDT)

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