HF Sinclair (NYSE:DINO) Reaches New 52-Week High – Still a Buy?

HF Sinclair Corporation (NYSE:DINO) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $62.20 and last traded at $62.0020, with a volume of 827957 shares. The stock had previously closed at $59.27.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DINO shares. Scotiabank downgraded HF Sinclair from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $62.00 to $53.00 in a research note on Wednesday, February 18th. BMO Capital Markets reduced their price target on shares of HF Sinclair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, February 23rd. Piper Sandler lowered their price target on shares of HF Sinclair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Barclays dropped their price objective on shares of HF Sinclair from $54.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 13th. Finally, Argus raised shares of HF Sinclair to a “hold” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, HF Sinclair presently has a consensus rating of “Hold” and a consensus target price of $59.27.

HF Sinclair Stock Up 4.2%

The business’s 50 day simple moving average is $53.89 and its 200 day simple moving average is $52.27. The company has a market capitalization of $11.13 billion, a PE ratio of 20.13 and a beta of 0.83. The company has a quick ratio of 0.90, a current ratio of 1.94 and a debt-to-equity ratio of 0.30.

HF Sinclair (NYSE:DINO) last released its earnings results on Wednesday, February 18th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.37. The business had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.19 billion. HF Sinclair had a net margin of 2.15% and a return on equity of 10.20%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted ($1.02) earnings per share. As a group, analysts forecast that HF Sinclair Corporation will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, March 2nd. HF Sinclair’s payout ratio is presently 65.15%.

Institutional Trading of HF Sinclair

A number of hedge funds have recently modified their holdings of DINO. Goldman Sachs Group Inc. increased its stake in shares of HF Sinclair by 14.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 939,764 shares of the company’s stock worth $30,899,000 after purchasing an additional 119,832 shares during the last quarter. Focus Partners Wealth boosted its holdings in HF Sinclair by 71.7% in 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 in the last quarter. Creative Planning increased its position in HF Sinclair by 127.0% during the second quarter. Creative Planning now owns 67,874 shares of the company’s stock worth $2,788,000 after buying an additional 37,968 shares during the last quarter. Cetera Investment Advisers increased its position in HF Sinclair by 1.7% during the second quarter. Cetera Investment Advisers now owns 98,973 shares of the company’s stock worth $4,066,000 after buying an additional 1,635 shares during the last quarter. Finally, Ensign Peak Advisors Inc raised its holdings in HF Sinclair by 12.2% during the second quarter. Ensign Peak Advisors Inc now owns 66,499 shares of the company’s stock valued at $2,732,000 after buying an additional 7,250 shares in the last quarter. Hedge funds and other institutional investors own 88.29% of the company’s stock.

HF Sinclair Company Profile

HF Sinclair Corporation is a diversified energy manufacturing company engaged in the refining, marketing, and transportation of petroleum products across the United States. The company operates a network of refineries and processing facilities that convert crude oil and other feedstocks into fuels and specialty products. Its integrated model encompasses upstream supply agreements, midstream logistics, and downstream marketing channels, positioning HF Sinclair as a key supplier of refined products to wholesale and retail markets.

The company’s core product slate includes gasoline, diesel, jet fuel, and renewable fuels such as renewable diesel and biodiesel.