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

HF Sinclair Corporation (NYSE:DINO) hit a new 52-week high on Wednesday. The company traded as high as $128.56 and last traded at $128.3520, with a volume of 2,210,540 shares. The stock had previously closed at $122.91.

Analyst Ratings Changes

Several analysts have recently commented on DINO shares. Barclays increased their price target 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. Evercore assumed coverage on shares of HF Sinclair in a report on Friday, July 17th. They issued an “in-line” rating and a $85.00 price target for the company. TD Cowen boosted their price objective on shares of HF Sinclair from $79.00 to $98.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Wells Fargo & Company boosted their price objective on shares of HF Sinclair from $67.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 1st. Finally, Morgan Stanley upped their price objective on HF Sinclair from $78.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, September 14th. Two 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, HF Sinclair has an average rating of “Moderate Buy” and an average target price of $103.00.

HF Sinclair Stock Performance

The firm has a fifty day moving average of $103.88 and a 200-day moving average of $82.59. The firm has a market cap of $22.82 billion, a P/E ratio of 12.75 and a beta of 0.72. The company has a quick ratio of 1.10, a current ratio of 1.97 and a debt-to-equity ratio of 0.27.

HF Sinclair (NYSE:DINO) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.82. The firm had revenue of $10.39 billion during the quarter, compared to analyst estimates of $8.68 billion. HF Sinclair had a return on equity of 18.21% and a net margin of 6.13%. The company’s revenue was up 53.2% on a year-over-year basis. During the same period last year, the company earned $1.10 earnings per share. Research analysts predict that HF Sinclair Corporation will post 18.15 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 $0.5250 dividend. This is a boost from HF Sinclair’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $2.10 annualized dividend and a dividend yield of 1.6%. HF Sinclair’s payout ratio is 20.04%.

Insider Activity

In other news, SVP Dale Kunneman sold 8,936 shares of HF Sinclair stock in a transaction that occurred 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 owned 42,561 shares in the company, 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 through this link. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On HF Sinclair

Large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in HF Sinclair during the 2nd quarter worth $1,291,602,000. Dimensional Fund Advisors LP raised its position in shares of HF Sinclair by 1.1% during the 1st 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 lifted its stake in shares of HF Sinclair by 3.8% in the 1st quarter. Bank of New York Mellon Corp now owns 2,063,790 shares of the company’s stock valued at $128,760,000 after purchasing an additional 75,798 shares during the period. NFJ Investment Group LLC acquired a new position in shares of HF Sinclair in the 2nd quarter valued at $97,422,000. Finally, Bank of America Corp DE acquired a new position in shares of HF Sinclair in the 2nd quarter valued at $89,846,000. 88.29% of the stock is currently owned by institutional investors and hedge funds.

HF Sinclair Company Profile

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.