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 Featured MNV Articles: | Top Buys by Directors: Myers's $492.9K Bet on HFCBy Energy Stock Channel Staff, Monday, September 20, 3:10 PM ET
The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $492.9K invested across 2 purchases by Franklin Myers, Director at HollyFrontier Corp (HFC). Myers bets big on HFC:
Myers's average cost works out to $32.86/share. In trading on Monday, bargain hunters could buy shares of HollyFrontier Corp (HFC) and achieve a cost basis lower than Myers, with shares changing hands as low as $29.33 per share. Shares of HollyFrontier Corp were changing hands at $29.46 at last check, trading down about 4% on Monday. The chart below shows the one year performance of HFC shares, versus its 200 day moving average:
Looking at the chart above, HFC's low point in its 52 week range is $16.81 per share, with $42.39 as the 52 week high point — that compares with a last trade of $29.46. The current annualized dividend paid by HollyFrontier Corp is $1.4/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 02/26/2021. Below is a long-term dividend history chart for HFC, which can be of good help in judging whether the most recent dividend with approx. 4.6% annualized yield is likely to continue.
Free Report: Top 7%+ Dividends (paid monthly)
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