While this has been a very strong period for the refining sector in general, and one of the best years ever for HollyFrontier (NYSE:HFC), the company still dropped nearly 4% on its earnings release due to missing analysts' earnings per share expectations. In this video, Motley Fool energy analyst Joel South tells investors why feedstock is so cheap at the moment due to the glut in oil production, and how HollyFrontier is even more levered to this cheap feedstock than its competition. He also explains what was behind the earnings miss, why it won't affect the company again beyond this quarter, and why now might represent a great buying opportunity.

Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.