HF Sinclair (NYSE:DINO) Stock Price Breaks Above 50-Day Moving Average - What's Next?

Key Points

• HF Sinclair shares broke above their 50-day moving average, reaching $116.71 and last trading at $115.01, compared with a 50-day average of $111.90.
• Analyst sentiment is mixed but leans positive, with an overall “Moderate Buy” rating and an average price target of $115.75. Recent targets range from $122 to $152, while Freedom Capital issued a “Strong Sell” downgrade.
• The company reported strong quarterly results, with EPS of $11.75 beating estimates of $7.83 and revenue rising 49.7% year over year to $10.86 billion; it also declared a quarterly dividend of $0.525 per share.

HF Sinclair Corporation (NYSE:DINO - Get Free Report) shares crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $111.90 and traded as high as $116.71. HF Sinclair shares last traded at $115.01, with a volume of 2,237,520 shares.

Analysts Set New Price Targets

Several research firms have weighed in on DINO. Piper Sandler initiated coverage on HF Sinclair in a report on Tuesday. They issued an "overweight" rating and a $152.00 target price on the stock. Freedom Capital downgraded HF Sinclair from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Wells Fargo & Company boosted their price objective on shares of HF Sinclair from $93.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 14th. Barclays increased their price objective on shares of HF Sinclair from $86.00 to $122.00 and gave the company an "equal weight" rating in a research note on Monday, October 12th. Finally, Raymond James Financial set a $150.00 target price on shares of HF Sinclair in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, HF Sinclair presently has an average rating of "Moderate Buy" and an average target price of $115.75.

HF Sinclair Stock Performance

The company has a market capitalization of $20.45 billion, a PE ratio of 5.84 and a beta of 0.72. The stock's fifty day simple moving average is $111.90 and its 200-day simple moving average is $78.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.10 and a current ratio of 2.27.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $11.75 earnings per share for the quarter, beating analysts' consensus estimates of $7.83 by $3.92. The business had revenue of $10.86 billion during the quarter, compared to analyst estimates of $8.89 billion. HF Sinclair had a net margin of 10.12% and a return on equity of 32.95%. The company's revenue was up 49.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 earnings per share. As a group, equities analysts predict that HF Sinclair Corporation will post 19.14 earnings per share for the current year.

HF Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Thursday, November 12th will be issued a $0.5250 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, November 12th. HF Sinclair's dividend payout ratio (DPR) is 10.65%.

Insider Activity

In other news, SVP Dale Kunneman sold 8,936 shares of the business's stock in a transaction on 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 sale, the senior vice president directly owned 42,561 shares of the company's stock, valued at $3,599,809.38. The trade was a 17.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DINO. Richardson Financial Services Inc. purchased a new position in HF Sinclair in the third quarter valued at about $48,000. Provenance Wealth Advisors LLC acquired a new stake in HF Sinclair during the 3rd quarter valued at approximately $86,000. Oregon Public Employees Retirement Fund increased its holdings in HF Sinclair by 1.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 32,061 shares of the company's stock worth $3,441,000 after purchasing an additional 383 shares during the last quarter. Gallacher Capital Management LLC purchased a new stake in HF Sinclair during the 3rd quarter worth approximately $571,000. Finally, Greenfield Seitz Capital Management LLC purchased a new stake in HF Sinclair during the 3rd quarter worth approximately $2,319,000. Institutional investors and hedge funds own 88.29% of the company's stock.

HF Sinclair Company Profile

HF Sinclair Corporation NYSE: DINO is an independent energy company engaged in refining, marketing and distributing petroleum products. The company operates refineries that process crude oil into gasoline, diesel, jet fuel, asphalt, lubricants and other specialty products. Its portfolio also includes renewable fuels activities and the production and marketing of base oils and other petroleum-based products.

HF Sinclair markets fuel under the Sinclair brand and supplies products to commercial customers, independent retailers and other wholesale and retail channels.

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