HF Sinclair (NYSE:DINO) Reaches New 52-Week High - Here's What Happened

Key Points

• HF Sinclair reached a new 52-week high of $65.75 (last $65.686) on Wednesday, rising about 5.3% with roughly 608,547 shares traded.
• The company beat quarterly estimates with EPS of $1.20 vs. $0.83 expected and $6.46 billion in revenue, and it pays a quarterly dividend of $0.50 (annualized $2.00, ~3.0% yield).
• Analysts have a consensus "Moderate Buy" rating with an average target of $64.45—opinions range from Sell to Strong Buy (Raymond James raised its target to $75)—and institutional ownership stands near 88%.

HF Sinclair Corporation (NYSE:DINO - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $65.75 and last traded at $65.6860, with a volume of 608547 shares trading hands. The stock had previously closed at $62.73.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Argus raised shares of HF Sinclair to a "hold" rating in a research note on Tuesday, February 24th. Raymond James Financial lifted their price target on shares of HF Sinclair from $66.00 to $75.00 and gave the company a "strong-buy" rating in a research note on Wednesday, March 25th. Wells Fargo & Company lifted their price target on shares of HF Sinclair from $58.00 to $67.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 31st. Mizuho lifted their price target on shares of HF Sinclair from $63.00 to $69.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. Finally, BMO Capital Markets reduced their price objective on shares of HF Sinclair from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.45.

HF Sinclair Stock Up 5.3%

The company has a market cap of $11.90 billion, a P/E ratio of 21.52 and a beta of 0.70. The company has a quick ratio of 0.90, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The business's 50 day moving average is $57.50 and its 200 day moving average is $53.73.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.37. The company had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.19 billion. HF Sinclair had a net margin of 2.15% and a return on equity of 10.20%. HF Sinclair's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.02) earnings per share. As a group, equities analysts anticipate that HF Sinclair Corporation will post 6.93 earnings per share for the current fiscal year.

HF Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.0%. HF Sinclair's dividend payout ratio is presently 65.15%.

Hedge Funds Weigh In On HF Sinclair

A number of large investors have recently made changes to their positions in the business. Convergence Investment Partners LLC purchased a new stake in shares of HF Sinclair during the third quarter valued at $1,408,000. Citigroup Inc. grew its holdings in shares of HF Sinclair by 41.4% during the third quarter. Citigroup Inc. now owns 445,121 shares of the company's stock valued at $23,298,000 after buying an additional 130,338 shares during the last quarter. RWC Asset Management LLP grew its holdings in shares of HF Sinclair by 30.3% during the third quarter. RWC Asset Management LLP now owns 143,634 shares of the company's stock valued at $7,518,000 after buying an additional 33,394 shares during the last quarter. Diversified Trust Co grew its holdings in shares of HF Sinclair by 211.5% during the third quarter. Diversified Trust Co now owns 45,509 shares of the company's stock valued at $2,382,000 after buying an additional 30,901 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of HF Sinclair by 6.4% during the third quarter. Dimensional Fund Advisors LP now owns 9,259,238 shares of the company's stock valued at $484,631,000 after buying an additional 560,194 shares during the last quarter. 88.29% of the stock is owned by institutional investors and hedge funds.

HF Sinclair Company Profile

HF Sinclair Corporation is a diversified energy manufacturing company engaged in the refining, marketing, and transportation of petroleum products across the United States. The company operates a network of refineries and processing facilities that convert crude oil and other feedstocks into fuels and specialty products. Its integrated model encompasses upstream supply agreements, midstream logistics, and downstream marketing channels, positioning HF Sinclair as a key supplier of refined products to wholesale and retail markets.

The company’s core product slate includes gasoline, diesel, jet fuel, and renewable fuels such as renewable diesel and biodiesel.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.