HF Sinclair (NYSE:DINO) Shares Up 5.2% – Here’s Why

Shares of HF Sinclair Corporation (NYSE:DINO) traded up 5.2% on Tuesday . The stock traded as high as $112.71 and last traded at $112.4190. 1,964,544 shares were traded during mid-day 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

DINO has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on HF Sinclair from $78.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company increased their target price on shares of HF Sinclair from $67.00 to $93.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 1st. The Goldman Sachs Group restated a “buy” rating and set a $114.00 price target on shares of HF Sinclair in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of HF Sinclair from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. Finally, UBS Group increased their price objective on shares of HF Sinclair from $105.00 to $126.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Two 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $94.25.

HF Sinclair Stock Up 5.0%

The firm has a market cap of $19.96 billion, a price-to-earnings ratio of 10.71 and a beta of 0.71. The firm has a 50 day moving average of $92.61 and a 200 day moving average of $74.17. 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 issued its quarterly 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 firm had revenue of $10.39 billion for 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 earnings per share. As a group, sell-side analysts predict that HF Sinclair Corporation will post 11.85 earnings per share for the current year.

HF Sinclair Increases Dividend

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

Insider Buying and Selling

In other HF Sinclair news, SVP Dale Kunneman sold 8,936 shares of HF Sinclair stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $755,806.88. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 made changes to their positions in the stock. Kingsview Wealth Management LLC increased its position in HF Sinclair by 1,451.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 61,345 shares of the company’s stock valued at $2,827,000 after buying an additional 57,391 shares in the last quarter. BlackRock Inc. bought a new position in HF Sinclair in the second quarter worth approximately $1,291,602,000. Jefferies Financial Group Inc. acquired a new stake in HF Sinclair in the fourth quarter valued at approximately $6,194,000. Energy Income Partners LLC acquired a new stake in HF Sinclair in the second quarter valued at approximately $5,210,000. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of HF Sinclair by 317.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 84,000 shares of the company’s stock valued at $3,871,000 after acquiring an additional 63,900 shares in the last quarter. Institutional investors 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.