HF Sinclair (NYSE:DINO) Sets New 12-Month High After Analyst Upgrade

Key Points

• HF Sinclair shares reached a new 52-week high after Mizuho raised its price target from $85 to $119, though it maintained a neutral rating. The stock traded near $119, while analysts’ consensus rating remained “Moderate Buy” with an average target of $97.67.
• The company reported strong quarterly results, posting $5.31 in earnings per share versus the $4.49 estimate and revenue of $10.39 billion, up 53.2% year over year.
• HF Sinclair increased its quarterly dividend to $0.525 per share, or $2.10 annualized, representing a 1.8% yield. Institutional investors own 88.29% of the company, with BlackRock recently establishing a position worth approximately $1.29 billion.

HF Sinclair Corporation (NYSE:DINO - Get Free Report)'s share price reached a new 52-week high during trading on Thursday after Mizuho raised their price target on the stock from $85.00 to $119.00. Mizuho currently has a neutral rating on the stock. HF Sinclair traded as high as $118.44 and last traded at $118.9750, with a volume of 56262 shares changing hands. The stock had previously closed at $115.63.

A number of other equities analysts also recently issued reports on the stock. Raymond James Financial increased their price target on shares of HF Sinclair from $105.00 to $140.00 and gave the company a "strong-buy" rating in a report on Monday, September 14th. Barclays boosted their price objective on shares of HF Sinclair from $81.00 to $86.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 29th. The Goldman Sachs Group restated a "buy" rating and set a $114.00 target price on shares of HF Sinclair in a research report on Wednesday, July 29th. Zacks Research raised shares of HF Sinclair from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Finally, Evercore started coverage on shares of HF Sinclair in a research report on Friday, July 17th. They set an "in-line" rating and a $85.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.67.

Insiders Place Their Bets

In other HF Sinclair news, SVP Dale Kunneman sold 8,936 shares of HF Sinclair stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $755,806.88. Following the completion of the transaction, the senior vice president owned 42,561 shares in the company, valued at approximately $3,599,809.38. The trade was a 17.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in HF Sinclair during the second quarter worth $1,291,602,000. Dimensional Fund Advisors LP boosted its stake in shares of HF Sinclair by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 9,249,939 shares of the company's stock valued at $577,114,000 after acquiring an additional 103,135 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of HF Sinclair by 3.8% during the first quarter. Bank of New York Mellon Corp now owns 2,063,790 shares of the company's stock valued at $128,760,000 after acquiring an additional 75,798 shares during the last quarter. NFJ Investment Group LLC increased its position in HF Sinclair by 1,275.3% during the 4th quarter. NFJ Investment Group LLC now owns 1,873,541 shares of the company's stock worth $86,333,000 after purchasing an additional 1,737,318 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in HF Sinclair during the 2nd quarter worth about $89,846,000. 88.29% of the stock is currently owned by institutional investors and hedge funds.

HF Sinclair Stock Up 2.9%

The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 11.33 and a beta of 0.72. The company has a current ratio of 1.97, a quick ratio of 1.10 and a debt-to-equity ratio of 0.27. The firm's 50 day moving average is $101.24 and its two-hundred day moving average is $80.83.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $4.49 by $0.82. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.68 billion. HF Sinclair had a net margin of 6.13% and a return on equity of 18.21%. The company's quarterly revenue was up 53.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share. On average, sell-side analysts predict that HF Sinclair Corporation will post 18.15 EPS for the current year.

HF Sinclair Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 11th were paid a dividend of $0.5250 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from HF Sinclair's previous quarterly dividend of $0.50. HF Sinclair's dividend payout ratio is currently 20.04%.

About HF Sinclair

HF Sinclair Corporation is an independent energy company engaged in refining, marketing, and distributing petroleum products. The company produces gasoline, diesel fuel, jet fuel, asphalt, lubricants, and specialty products for commercial, industrial, and consumer markets. Its operations also include renewable energy activities, including the production and marketing of renewable diesel.

HF Sinclair markets fuel and related products through branded and unbranded channels under names that include Sinclair, HollyFrontier, and Petro-Canada Lubricants.

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