HF Sinclair (NYSE:DINO) Hits New 1-Year High on Analyst Upgrade

Key Points

• HF Sinclair shares reached a new 52-week high after Mizuho upgraded their price target from $52.00 to $60.00, reflecting an outperform rating on the stock.
• The company recently reported an EPS of $1.70 for the last quarter, surpassing estimates by $0.61, though revenue decreased by 13.5% year-over-year.
• HF Sinclair declared a quarterly dividend of $0.50 per share, resulting in a 3.8% dividend yield for shareholders.

Shares of HF Sinclair Corporation (NYSE:DINO - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $54.00 to $61.00. The Goldman Sachs Group currently has a buy rating on the stock. HF Sinclair traded as high as $53.33 and last traded at $52.98, with a volume of 376158 shares. The stock had previously closed at $51.64.

Several other equities analysts have also recently issued reports on DINO. TD Cowen lifted their price objective on HF Sinclair from $45.00 to $46.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Barclays lifted their price objective on HF Sinclair from $32.00 to $43.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Scotiabank lifted their price objective on HF Sinclair from $49.00 to $61.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Mizuho raised their price target on HF Sinclair from $52.00 to $60.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. Finally, Wells Fargo & Company raised their price target on HF Sinclair from $34.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.25.

Insider Activity at HF Sinclair

In other news, EVP Valerie Pompa sold 11,000 shares of HF Sinclair stock in a transaction on Friday, August 1st. The stock was sold at an average price of $42.53, for a total value of $467,830.00. Following the completion of the sale, the executive vice president owned 39,591 shares of the company's stock, valued at $1,683,805.23. The trade was a 21.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HF Sinclair

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in HF Sinclair by 109.8% in the first quarter. AQR Capital Management LLC now owns 4,986,355 shares of the company's stock valued at $163,951,000 after acquiring an additional 2,609,857 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in HF Sinclair in the second quarter valued at $70,437,000. Price T Rowe Associates Inc. MD boosted its holdings in HF Sinclair by 1,633.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,694,918 shares of the company's stock valued at $55,730,000 after acquiring an additional 1,597,152 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of HF Sinclair by 19.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,185,509 shares of the company's stock worth $269,142,000 after purchasing an additional 1,337,093 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of HF Sinclair by 207.5% during the first quarter. Millennium Management LLC now owns 1,970,006 shares of the company's stock worth $64,774,000 after purchasing an additional 1,329,408 shares in the last quarter. Hedge funds and other institutional investors own 88.29% of the company's stock.

HF Sinclair Stock Performance

The stock has a 50 day simple moving average of $47.18 and a 200 day simple moving average of $39.12. The company has a market cap of $9.82 billion, a price-to-earnings ratio of -114.09 and a beta of 1.07. The company has a quick ratio of 0.83, a current ratio of 1.82 and a debt-to-equity ratio of 0.29.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.61. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%.The firm had revenue of $6.78 billion for the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. HF Sinclair's revenue for the quarter was down 13.5% compared to the same quarter last year. As a group, analysts predict that HF Sinclair Corporation will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, August 21st. This represents a $2.00 annualized dividend and a yield of 3.8%. HF Sinclair's dividend payout ratio is presently -434.78%.

HF Sinclair Company Profile

HF Sinclair Corporation operates as an independent energy company. The company produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, specialty and modified asphalt, and others. It owns and operates refineries located in Kansas, Oklahoma, New Mexico, Utah, Washington, and Wyoming; and markets its refined products principally in the Southwest United States and Rocky Mountains, Pacific Northwest, and in other neighboring Plains states.