HF Sinclair (NYSE:DINO) Hits New 1-Year High Following Strong Earnings

HF Sinclair Corporation (NYSE:DINO) shares hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $94.22 and last traded at $91.4240, with a volume of 375138 shares traded. The stock had previously closed at $90.78.

The company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.82. The company had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.68 billion. HF Sinclair had a return on equity of 11.94% and a net margin of 4.46%.HF Sinclair’s revenue was up 53.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS.

HF Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 11th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, May 11th. HF Sinclair’s dividend payout ratio is presently 30.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DINO shares. Raymond James Financial reiterated a “strong-buy” rating on shares of HF Sinclair in a report on Monday, July 13th. Barclays upped their price objective on shares of HF Sinclair from $71.00 to $81.00 and gave the company an “equal weight” rating in a research report on Monday, July 13th. UBS Group raised their price objective on HF Sinclair from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Mizuho reiterated a “neutral” rating and set a $79.00 target price (up from $67.00) on shares of HF Sinclair in a report on Wednesday, May 27th. Finally, Evercore started coverage on HF Sinclair in a research note on Friday, July 17th. They issued an “in-line” rating and a $85.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, HF Sinclair currently has an average rating of “Hold” and an average price target of $79.08.

Insider Activity

In related news, Director Manuel J. Fernandez sold 635 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $73.09, for a total transaction of $46,412.15. Following the sale, the director directly owned 16,543 shares in the company, valued at $1,209,127.87. This trade represents a 3.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vivek Garg sold 717 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $71.89, for a total transaction of $51,545.13. Following the sale, the chief financial officer owned 11,475 shares in the company, valued at approximately $824,937.75. The trade was a 5.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 13,736 shares of company stock worth $954,694. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On HF Sinclair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DINO. V Square Quantitative Management LLC bought a new position in HF Sinclair during the 4th quarter worth about $26,000. REAP Financial Group LLC bought a new stake in shares of HF Sinclair in the fourth quarter valued at about $29,000. Nalls Sherbakoff Group LLC bought a new stake in shares of HF Sinclair in the fourth quarter valued at about $36,000. Fairway Wealth LLC acquired a new position in shares of HF Sinclair during the first quarter worth about $41,000. Finally, State of Wyoming acquired a new position in shares of HF Sinclair during the second quarter worth about $41,000. 88.29% of the stock is owned by institutional investors and hedge funds.

HF Sinclair Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $16.31 billion, a P/E ratio of 13.65 and a beta of 0.72. The stock has a fifty day moving average of $74.16 and a 200-day moving average of $63.45.

About HF Sinclair

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.