HF Sinclair (NYSE:DINO) Sets New 12-Month High - Here's What Happened

Key Points

• HF Sinclair shares hit a new 52-week high of $112.17 during Monday trading, up from the prior close of $107.84.
• The company reported quarterly earnings of $5.31 per share, beating estimates by $0.82, while revenue rose 53.2% year over year to $10.39 billion.
• Analysts maintain a “Moderate Buy” consensus rating, although the $87.25 average price target is below the current share price. HF Sinclair also raised its quarterly dividend to $0.525 per share, representing a 1.9% yield.

HF Sinclair Corporation (NYSE:DINO - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $112.17 and last traded at $108.2170, with a volume of 8224 shares. The stock had previously closed at $107.84.

Analysts Set New Price Targets

A number of research analysts recently commented on DINO shares. Evercore initiated coverage on shares of HF Sinclair in a research note on Friday, July 17th. They issued an "in-line" rating and a $85.00 price target on the stock. Weiss Ratings upgraded shares of HF Sinclair from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Raymond James Financial set a $105.00 price objective on HF Sinclair in a report on Wednesday, July 29th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $114.00 target price on shares of HF Sinclair in a research report on Wednesday, July 29th. Finally, Barclays increased their target price on HF Sinclair from $81.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, HF Sinclair has a consensus rating of "Moderate Buy" and a consensus price target of $87.25.

HF Sinclair Stock Performance

The stock has a market cap of $19.73 billion, a price-to-earnings ratio of 10.33 and a beta of 0.71. The company has a quick ratio of 1.10, a current ratio of 1.97 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $91.96 and a 200 day simple moving average of $73.77.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $4.49 by $0.82. The company had revenue of $10.39 billion for 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 firm's quarterly revenue was up 53.2% compared to the same quarter last year. During the same period last year, the company posted $1.10 EPS. As a group, equities research analysts forecast that HF Sinclair Corporation will post 11.85 EPS for the current year.

HF Sinclair Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.9%. This is a boost from HF Sinclair's previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, August 11th. HF Sinclair's dividend payout ratio (DPR) is currently 20.04%.

Insiders Place Their Bets

In other news, Director Rhoman J. Hardy acquired 1,508 shares of HF Sinclair stock in a transaction that occurred on Tuesday, June 16th. The shares were acquired at an average price of $66.32 per share, for a total transaction of $100,010.56. Following the transaction, the director directly owned 15,037 shares of the company's stock, valued at approximately $997,253.84. The trade was a 11.15% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dale Kunneman sold 8,936 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $755,806.88. Following the completion of the transaction, the senior vice president directly owned 42,561 shares of the company's stock, valued at approximately $3,599,809.38. The trade was a 17.35% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of HF Sinclair

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of HF Sinclair by 14.6% during the first 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 last quarter. Focus Partners Wealth grew its stake in HF Sinclair by 71.7% during the first quarter. Focus Partners Wealth now owns 19,400 shares of the company's stock worth $638,000 after purchasing an additional 8,102 shares during the period. Amundi increased its holdings in HF Sinclair by 7.7% in the second quarter. Amundi now owns 174,199 shares of the company's stock worth $7,588,000 after purchasing an additional 12,387 shares in the last quarter. Jump Financial LLC bought a new stake in HF Sinclair in the second quarter worth approximately $209,000. Finally, Cerity Partners LLC lifted its stake in HF Sinclair by 25.7% in the second quarter. Cerity Partners LLC now owns 145,047 shares of the company's stock valued at $5,959,000 after buying an additional 29,635 shares during the period. 88.29% of the stock is currently owned by institutional investors.

HF Sinclair Company Profile

HF Sinclair Corporation is an independent energy company engaged in refining, marketing and distributing petroleum products. The company operates refineries that process crude oil into transportation fuels, including gasoline, diesel and jet fuel, as well as asphalt, base oils and other specialty products.

Through its marketing operations, HF Sinclair supplies fuel and related products to commercial customers, wholesale distributors and retail locations under brands that include Sinclair, HollyFrontier and various regional fuel brands.

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