HF Sinclair (NYSE:DINO) Stock Price Up 5.2% - Here's Why

Key Points

• HF Sinclair shares rose 5.2% to about $112.42 in mid-day trading, with roughly 1.96 million shares changing hands.
• Recent analyst actions were mixed but generally positive: Raymond James raised its price target to $140 and issued a strong-buy rating, while MarketBeat’s consensus rating remained “Moderate Buy” with an average target of $94.25.
• The company reported quarterly EPS of $5.31, beating estimates by $0.82, while revenue increased 53.2% year over year to $10.39 billion. HF Sinclair also raised its quarterly dividend to $0.525 per share.

Shares of HF Sinclair Corporation (NYSE:DINO - Get Free Report) were up 5.2% during mid-day trading on Tuesday . The company traded as high as $112.71 and last traded at $112.4190. Approximately 1,964,544 shares were traded during trading, a decline of 27% from the average session volume of 2,676,760 shares. The stock had previously closed at $106.91.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays boosted their price target on HF Sinclair from $81.00 to $86.00 and gave the company an "equal weight" rating in a report on Wednesday, July 29th. Raymond James Financial upped their price target on HF Sinclair from $105.00 to $140.00 and gave the stock a "strong-buy" rating in a research report on Monday. Mizuho raised their price target on shares of HF Sinclair from $79.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. Zacks Research raised shares of HF Sinclair from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Finally, Freedom Capital cut shares of HF Sinclair from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, HF Sinclair has a consensus rating of "Moderate Buy" and an average price target of $94.25.

HF Sinclair Stock Up 5.0%

The company has a market capitalization of $19.96 billion, a price-to-earnings ratio of 10.71 and a beta of 0.71. The firm's 50 day moving average price is $92.61 and its two-hundred day moving average price is $74.17. The company has a current ratio of 1.97, a quick ratio of 1.10 and a debt-to-equity ratio of 0.27.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. HF Sinclair's revenue was up 53.2% on a year-over-year basis. During the same period last year, the business posted $1.10 EPS. Sell-side analysts anticipate that HF Sinclair Corporation will post 11.85 earnings per share for the current fiscal year.

HF Sinclair Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.525 per share. The ex-dividend date was Tuesday, August 11th. This represents a $2.10 annualized dividend and a dividend yield of 1.9%. This is an increase from HF Sinclair's previous quarterly dividend of $0.50. HF Sinclair's dividend payout ratio is presently 20.04%.

Insider Activity at HF Sinclair

In related news, SVP Dale Kunneman sold 8,936 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $755,806.88. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company's stock.

Institutional Investors Weigh In On HF Sinclair

Several hedge funds have recently added to or reduced their stakes in the business. Clearstead Trust LLC acquired a new position in HF Sinclair in the 2nd quarter valued at approximately $33,000. REAP Financial Group LLC acquired a new position in shares of HF Sinclair during the fourth quarter worth $29,000. Fairway Wealth LLC acquired a new position in shares of HF Sinclair during the first quarter worth $41,000. Nalls Sherbakoff Group LLC bought a new stake in shares of HF Sinclair in the fourth quarter worth $36,000. Finally, Main Street Group LTD bought a new stake in shares of HF Sinclair in the first quarter worth $54,000. Institutional investors and hedge funds own 88.29% of the company's stock.

About HF Sinclair

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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