Oppenheimer Reiterates Outperform on HollyFrontier After Recent Dividend/Stock Split Announcement

Oppenheimer has published a research report on HollyFrontier

and reiterates its Outperform rating after HFC's recent $1/share dividend and 2:1 stock split. In the report, Oppenheimer writes, "We reiterate our Outperform rating on HFC shares as we believe continued wide crude discount will boost earnings, cash flow and valuation. We expect production growth of these unconventional crude types to outstrip planned pipeline capacity to access the Gulf Coast refining hub. We expect the crude discount to remain significantly above historical ranges for several years." Oppenheimer also has a $90 price target on HollyFrontier, which closed yesterday at $71.12.