HF Sinclair (NYSE:DINO) Hits New 52-Week High Following Analyst Upgrade

HF Sinclair Corporation (NYSE:DINO)’s stock price hit a new 52-week high on Monday after Piper Sandler raised their price target on the stock from $59.00 to $64.00. Piper Sandler currently has a neutral rating on the stock. HF Sinclair traded as high as $56.58 and last traded at $56.2690, with a volume of 2105272 shares traded. The stock had previously closed at $54.03.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HF Sinclair in a research note on Wednesday, October 8th. The Goldman Sachs Group lifted their price target on shares of HF Sinclair from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Barclays increased their price objective on HF Sinclair from $45.00 to $54.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Mizuho lifted their target price on HF Sinclair from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Wells Fargo & Company initiated coverage on HF Sinclair in a research report on Friday, October 17th. They set an “equal weight” rating and a $58.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its stake in HF Sinclair by 109.8% in the 1st quarter. AQR Capital Management LLC now owns 4,986,355 shares of the company’s stock worth $163,951,000 after acquiring an additional 2,609,857 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of HF Sinclair in the 2nd quarter valued at about $70,437,000. Price T Rowe Associates Inc. MD increased its holdings in shares of HF Sinclair by 1,633.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,694,918 shares of the company’s stock valued at $55,730,000 after purchasing an additional 1,597,152 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of HF Sinclair by 19.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,185,509 shares of the company’s stock worth $269,142,000 after purchasing an additional 1,337,093 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of HF Sinclair by 207.5% during the first quarter. Millennium Management LLC now owns 1,970,006 shares of the company’s stock worth $64,774,000 after purchasing an additional 1,329,408 shares during the period. Hedge funds and other institutional investors own 88.29% of the company’s stock.

HF Sinclair Price Performance

The stock has a market capitalization of $10.30 billion, a PE ratio of -121.28 and a beta of 0.99. The company has a quick ratio of 0.83, a current ratio of 1.82 and a debt-to-equity ratio of 0.29. The stock’s 50-day moving average is $52.79 and its 200 day moving average is $45.60.

HF Sinclair (NYSE:DINO) last issued its earnings results on Thursday, October 30th. The company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.50. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.89%. The company had revenue of $7.25 billion during the quarter, compared to analyst estimates of $6.99 billion. During the same quarter last year, the business posted $0.51 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts predict that HF Sinclair Corporation will post 2.39 earnings per share for the current year.

HF Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Wednesday, November 19th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. HF Sinclair’s dividend payout ratio (DPR) is presently 95.69%.

HF Sinclair Company Profile

HF Sinclair Corporation operates as an independent energy company. The company produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, specialty and modified asphalt, and others. It owns and operates refineries located in Kansas, Oklahoma, New Mexico, Utah, Washington, and Wyoming; and markets its refined products principally in the Southwest United States and Rocky Mountains, Pacific Northwest, and in other neighboring Plains states.