In addition, Gilead provides Letairis, an oral formulation for the treatment of pulmonary arterial hypertension; Ranexa, an oral formulation for the treatment of chronic angina; and AmBisome, a liposomal formulation for the treatment of serious invasive fungal infections.
The company has collaboration agreements with Arcus Biosciences, Pionyr, Tizona, Tango Therapeutics, Jounce Therapeutics, Galapagos, Janssen, Japan Tobacco, Gadeta, Bristol-Myers Squibb, Merck and Novo Nordisk.
Gilead Sciences stock comes with a 4.48% dividend. Oppenheimer’s $90 price objective is the highest on Wall Street. The consensus target is $70.78, and Thursday’s closing print was $65.00.
Holly Energy Partners
This limited partnership is owned by HollyFrontier, and it is a solid dividend play but has traded down as crude oil has been hit. Holly Energy Partners L.P. (NYSE: HEP) owns and operates petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities and refinery processing units that support the refining and marketing operations of HollyFrontier in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington.
The company’s refined product pipelines transport conventional gasolines, reformulated gasolines and low-octane gasolines for oxygenate blending, as well as distillates, such as high- and low-sulfur diesel and jet fuels and liquefied petroleum gases. Its intermediate product pipelines transport intermediate feedstocks and crude oils; and its oil trunk, gathering and connection pipelines deliver crude oil.
It operates 26 main pipelines; crude gathering networks; 10 refined product terminals; a crude terminal; 31,800 track feet of rail storage; seven locations with truck or rail racks; and tankages at six refining facility locations, as well as five refinery processing units.
Investors receive a 7.51% distribution, which appears safe for now. Raymond James has set a $20 price target. Holly Energy Partners stock has an $18 consensus target, and Thursday’s close was at $18.36.
LyondellBasell Industries
This top chemical company with a sterling balance sheet is another solid play for conservative investors, after being hammered over the past three months despite posting solid results. LyondellBasell Industries N.V. (NYSE: LYB) manufactures chemicals and polymers, refines crude oil, produces gasoline blending components and develops and licenses technologies for production of polymers.
Over half of earnings are generated in the company’s Olefins and Polyolefins Americas segment, where costs are linked to the price of cheap natural gas in the United States, while selling prices are correlated with the price of oil. The company has pursued a strategy of low-cost, high return on invested capital debottlenecks coupled with cash returns to shareholders.
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