HF Sinclair (NYSE:DINO) Stock Price Up 3.1% – Here’s Why

HF Sinclair Co. (NYSE:DINO)’s share price rose 3.1% on Wednesday . The stock traded as high as $34.16 and last traded at $34.21. Approximately 112,400 shares changed hands during trading, a decline of 95% from the average daily volume of 2,191,532 shares. The stock had previously closed at $33.18.

Wall Street Analyst Weigh In

A number of analysts have commented on DINO shares. TD Cowen reduced their price target on HF Sinclair from $43.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Wells Fargo & Company raised their price target on HF Sinclair from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. Piper Sandler set a $46.00 price objective on HF Sinclair in a research note on Friday, March 7th. JPMorgan Chase & Co. decreased their target price on HF Sinclair from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Finally, Morgan Stanley lowered their price target on HF Sinclair from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.00.

HF Sinclair Trading Up 2.3 %

The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average is $35.24 and its 200-day moving average is $38.99. The company has a market cap of $6.39 billion, a PE ratio of 41.43 and a beta of 1.13.

HF Sinclair (NYSE:DINO) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.11). The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.56 billion. HF Sinclair had a net margin of 0.62% and a return on equity of 1.98%. As a group, sell-side analysts anticipate that HF Sinclair Co. will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend was Thursday, March 6th. HF Sinclair’s dividend payout ratio (DPR) is 243.90%.

Insider Activity

In other news, Director Franklin Myers bought 5,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average price of $35.66 per share, for a total transaction of $178,300.00. Following the acquisition, the director now owns 154,065 shares of the company’s stock, valued at $5,493,957.90. The trade was a 3.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.28% of the company’s stock.

Institutional Trading of HF Sinclair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DINO. Wellington Management Group LLP grew its stake in shares of HF Sinclair by 457.7% during the fourth quarter. Wellington Management Group LLP now owns 50,482 shares of the company’s stock valued at $1,769,000 after buying an additional 41,430 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in HF Sinclair by 58.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,633 shares of the company’s stock valued at $1,039,000 after acquiring an additional 10,909 shares during the last quarter. Hara Capital LLC bought a new position in HF Sinclair in the 4th quarter valued at $122,000. Siemens Fonds Invest GmbH purchased a new stake in HF Sinclair in the fourth quarter worth $98,000. Finally, Total Wealth Planning & Management Inc. bought a new stake in shares of HF Sinclair during the fourth quarter worth $348,000. 88.29% of the stock is owned by hedge funds and other institutional investors.

About HF Sinclair

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.