profiteer11
16 years ago
Frontier Oil Elects Leo Hoonakker Vice President Treasurer
August 28th, 2008 - Posted in Oil and Gas
Frontier Oil Corporation announce that Leo J. Hoonakker was promoted to the position of Vice President – Treasurer. He will report to the Vice President - Corporate Finance.
Hoonakker has worked for Frontier and its predecessor companies for over 20 years and as Treasurer of Frontier Oil Corporation since 2005. Prior to joining Frontier, Hoonakker was a lending officer for First Interstate Bank (Wells Fargo). Hoonakker has nearly 40 years of credit and cash management experience. He earned a Ph.D in finance and economics from Colorado University and Kensington University, a Masters of Business Administration from the University of Utah and a B.S. in accounting from Westminster College.
Frontier operates a 120,000 barrel-per-day refinery located in El Dorado, Kansas, and a 52,000 barrel-per-day refinery located in Cheyenne, Wyoming, and markets its refined products principally along the eastern slope of the Rocky Mountains and in other neighboring plains states. Information about the Company may be found on its web site www.frontieroil.com.
profiteer11
16 years ago
Business
Frontier Oil Declares Cash Dividend
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© Business Wire 2008
2008-08-28 01:24:02 -
www.frontieroil.com/ - The Board of Directors of Frontier Oil Corporation (NYSE:FTO) declared a regular quarterly cash dividend on the Company's common stock of $0.06 per share ($0.24 annualized). The dividend is payable October 16, 2008 to shareholders of record on September 26, 2008.
Frontier operates a 120,000 barrel-per-day refinery located in El Dorado, Kansas, and a
52,000 barrel-per-day refinery located in Cheyenne, Wyoming, and markets its refined products principally along the eastern slope of the Rocky Mountains and in other neighboring plains states. Information about the Company may be found on its web site www.frontieroil.com.
profiteer11
16 years ago
FWIW
Company Highlight: 8/23/08
Frontier Oil Corp is an independent energy engaged in crude oil refining and wholesale marketing of refined petroleum products. The company has grown profits and dividends in excess of 30% annually over the past five years earning a 25%+ return on equity. While profits in 2008 will decline, that appears well reflected in the price of FTO’s stock. Nevertheless, earnings should recover over the coming years as a result of:
<!--[if !supportLists]-->(1) <!--[endif]-->the company’s disproportionate exposure to diesel fuel which has sustained much higher margins than gasoline,
<!--[if !supportLists]-->(2) <!--[endif]-->its ability to process heavier, less expensive types of crude oil while still producing higher value added refined products,
<!--[if !supportLists]-->(3) <!--[endif]-->an aggressive capital expenditure program.
FTO is rated A by Value Line, has a modest 13% debt to equity ratio and its stock yields .8%
http://finance.yahoo.com/q?s=FTO
Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 38 years of investment experience includes institutional portfolio management at Scudder. Stevens and Clark and Bear Stearns, managing a risk arbitrage hedge fund and an investment banking boutique specializing in funding second stage private companies. Through his involvement with Strategic Stock Investments, Steve hopes that his experience can help other investors build their wealth while avoiding tough lessons that he learned the hard way.
ktran11
17 years ago
FTO, i believe, is a buy right now in my book. I haven't kept up with this stock, so please do your DD, but this is one of the more volatile oil companies on the market. They are pretty independent with their supply line and distribution. This stock will perform with the industry accept at a more volatile rate. I am not sure if you're looking into investment or trading, but trading is awesome right now, the stock has hit its low and ready to bounce, look for the bounce in RSI and watch money flow comes in under the CMF. The chart seems to be resetting, i expect it to settle around 29.5 before making its next move. Good luck! This is a reply to your PM.
frenchee
17 years ago
Refiners May Lose Some Drive This Summer
Caris & Co.
WITH DOMESTIC MONETARY POLICY continuing to hold more sway than oil market fundamentals in determining the price of oil, we believe that continued economic and inflationary uncertainty will result in Nymex WTI oil trading in the $90-to-$110 per-barrel range this year, ahead of our previous 2008 forecast of $72 per barrel.
With pump prices set to hit new record highs this summer on the back of record oil prices and an increased likelihood of recession, we forecast that domestic gasoline demand will contract this year, following a modest expansion last year. While we expect a seasonal expansion in margins later this spring as we head into the summer driving season, it will be more modest than realized in 2007 and second-half 2008 margins will hinge on oil price trends, refinery utilization levels and the economy.
As such, we are downgrading the shares of Valero Energy to Average from Above Average and Frontier Oil, Holly, Sunoco and Tesoro to Below Average from Above Average.
We are reducing the rating on Western Refining from Average to Below Average.
We retain our Buy rating and our $34 price target on the shares of Alon USA Energy.
At this juncture, we expected that domestic monetary policy, the weak dollar and inflation fears to drive the price of oil, and not fundamentals. As such, we are boosting our 2008 oil price (Nymex WTI) forecast to $95 per barrel from $72 per barrel. We estimate that Nymex WTI grade crude oil will average $85 per barrel in 2009.
While yesterday's announcement by the Federal Reserve of a program designed to enable banks and dealers to borrow up to $200 billion of Treasuries, while pledging a variety of mortgaged-backed securities as collateral, did result in some strength in the dollar and pressured the price of oil briefly, the course of oil reversed itself as the day progressed. Further interest-rate cuts are likely to keep pressure on the dollar and thus the price of oil.
Assuming an oil price in the $95-$110 per-barrel range, we expect that gasoline prices this summer will set record highs -- from $4 per gallon on the more populous areas on the West and East coasts to roughly $3.50 per gallon across the balance of the country. This past week, the average U.S. gasoline price was $3.227 per gallon, up from $2.96 per gallon last month and $2.54 per gallon a year ago. Hurricane-induced refinery outages, such as those experienced in the summer of 2005, would place additional upward pressure on gasoline prices.
As a consequence of our revised oil price, and its impact on pump prices this summer, combined with clear signs of weaker domestic economic growth, we are cutting our projection for gasoline-demand growth to negative 0.2% from positive 0.5% this year. As such, we now forecast that total domestic fuel consumption will drop by 80,000 barrels per day from the 2007 level. Taking into account an increase in ethanol use of 130,000 barrels per day, we estimate that U.S. petroleum demand will drop by 210,000 barrels per day.
-- Ann Kohler