Allen Good, CFA

Allen Good, CFA, is a director for Morningstar.

More From Allen Good

While the move allows the integrated firm to efficiently monetize midstream assets while largely retaining control, it also represents a fraction of the company’s value.

Out of the path of the hurricane, HollyFrontier stands to benefit from the strengthening of product margins and the widening of the WTI/Brent spread due to refinery outages on the Gulf Coast.

We expect the next CEO to keep the focus on dividend growth while restricting capital to high-return base reinvestment, Permian growth, and only select international major capital projects.

More About Allen Good

Allen Good, CFA, is a director, Europe, for Morningstar*. Based in Amsterdam, he covers the oil and gas industries as well as manages a team of multi-industry analysts. He is also chair of the Morningstar Research Services Economic Moat Committee, a group of senior members of the equity research team responsible for reviewing all Economic Moat ratings issued by Morningstar. In this role, he is responsible for ensuring consistent application of Morningstar’s Economic Moat methodology across sectors and regions as well as updating and revising the methodology. His specialty is global integrated oils such as Exxon, Chevron and Shell and US independent refiners such as Valero and Marathon Petroleum. He also contributes to developing hydrocarbon price and petroleum product margin forecasts used in valuation models.

Before joining Morningstar in 2008, He performed merger and acquisition advisory work for a middle-market investment bank. Before that, he spent several years at Black & Decker in various operational roles, primarily focused on manufacturing and distribution.

Good holds a bachelor’s degree in business from the University of Tennessee and a master’s degree in business administration from Kenan-Flagler Business School at the University of North Carolina. He also holds the Chartered Financial Analyst® designation.

* Morningstar Holland BV (“Morningstar”) is a wholly owned subsidiary of Morningstar, Inc

Sponsor Center