HF Sinclair (NYSE:DINO) Sets New 52-Week High on Analyst Upgrade

Key Points

• HF Sinclair stock hit a new 52-week high (traded as high as $71.91) after TD Cowen raised its price target to $80 from $68 while maintaining a "hold" rating.
• The company reported a stronger-than-expected quarter, with EPS of $0.69 beating estimates by $0.75 and revenue of $7.12 billion, up 11.8% year-over-year.
• HF Sinclair declared a quarterly dividend of $0.50 (annualized $2.00) with an ex-dividend date of May 11 and payment on June 2, implying a yield of about 2.8%.

HF Sinclair Corporation (NYSE:DINO - Get Free Report)'s stock price hit a new 52-week high on Tuesday after TD Cowen raised their price target on the stock from $68.00 to $80.00. TD Cowen currently has a hold rating on the stock. HF Sinclair traded as high as $71.91 and last traded at $71.7920, with a volume of 3964661 shares trading hands. The stock had previously closed at $69.17.

DINO has been the topic of several other reports. Wells Fargo & Company raised their price objective on HF Sinclair from $58.00 to $67.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 31st. BMO Capital Markets lowered their target price on HF Sinclair from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, February 23rd. Piper Sandler lowered their target price on HF Sinclair from $67.00 to $63.00 and set an "overweight" rating on the stock in a research note on Thursday, February 19th. Mizuho lifted their target price on HF Sinclair from $63.00 to $69.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. Finally, Scotiabank lifted their target price on HF Sinclair from $53.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.73.

Institutional Investors Weigh In On HF Sinclair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DINO. Goldman Sachs Group Inc. raised its stake in HF Sinclair by 14.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 939,764 shares of the company's stock valued at $30,899,000 after acquiring an additional 119,832 shares during the period. Focus Partners Wealth raised its stake in HF Sinclair by 71.7% in the 1st quarter. Focus Partners Wealth now owns 19,400 shares of the company's stock valued at $638,000 after acquiring an additional 8,102 shares during the period. Amundi raised its stake in HF Sinclair by 7.7% in the 2nd quarter. Amundi now owns 174,199 shares of the company's stock valued at $7,588,000 after acquiring an additional 12,387 shares during the period. Jump Financial LLC bought a new stake in HF Sinclair in the 2nd quarter valued at about $209,000. Finally, Cerity Partners LLC raised its stake in HF Sinclair by 25.7% in the 2nd quarter. Cerity Partners LLC now owns 145,047 shares of the company's stock valued at $5,959,000 after acquiring an additional 29,635 shares during the period. 88.29% of the stock is currently owned by institutional investors.

HF Sinclair Stock Up 3.8%

The stock has a 50 day moving average of $58.12 and a 200-day moving average of $53.93. The firm has a market capitalization of $12.94 billion, a P/E ratio of 10.80 and a beta of 0.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.94.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.75. HF Sinclair had a return on equity of 12.06% and a net margin of 4.46%.The business had revenue of $7.12 billion for the quarter, compared to analysts' expectations of $6.83 billion. During the same period in the previous year, the business posted ($0.27) EPS. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts predict that HF Sinclair Corporation will post 7.11 earnings per share for the current fiscal year.

HF Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Monday, May 11th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, May 11th. HF Sinclair's payout ratio is currently 30.08%.

About HF Sinclair

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.

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