HF Sinclair (NYSE:DINO) Hits New 52-Week High Following Analyst Upgrade

HF Sinclair Corporation (NYSE:DINO)’s share price reached a new 52-week high during trading on Wednesday after UBS Group raised their price target on the stock from $51.00 to $58.00. UBS Group currently has a buy rating on the stock. HF Sinclair traded as high as $49.81 and last traded at $49.87, with a volume of 346742 shares changing hands. The stock had previously closed at $49.09.

Other equities analysts have also issued reports about the company. Scotiabank upped their target price on HF Sinclair from $49.00 to $61.00 and gave the company a “sector outperform” rating in a research note on Friday, July 11th. Wolfe Research lowered HF Sinclair from a “peer perform” rating to an “underperform” rating in a research note on Monday, July 14th. Barclays upped their target price on HF Sinclair from $32.00 to $43.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded HF Sinclair from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley upped their target price on HF Sinclair from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.55.

Insider Buying and Selling

In other HF Sinclair news, EVP Valerie Pompa sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $42.53, for a total transaction of $467,830.00. Following the completion of the sale, the executive vice president owned 39,591 shares in the company, valued at $1,683,805.23. This trade represents a 21.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On HF Sinclair

A number of institutional investors have recently made changes to their positions in DINO. Kiker Wealth Management LLC bought a new position in HF Sinclair during the 2nd quarter worth approximately $32,000. Johnson Financial Group Inc. bought a new position in HF Sinclair during the 2nd quarter worth approximately $33,000. Byrne Asset Management LLC bought a new position in HF Sinclair during the 1st quarter worth approximately $35,000. West Oak Capital LLC bought a new position in HF Sinclair during the 2nd quarter worth approximately $38,000. Finally, Allworth Financial LP lifted its holdings in HF Sinclair by 553.9% during the 1st quarter. Allworth Financial LP now owns 1,334 shares of the company’s stock worth $41,000 after buying an additional 1,130 shares during the last quarter. 88.29% of the stock is owned by institutional investors and hedge funds.

HF Sinclair Trading Up 2.3%

The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.82. The business has a fifty day simple moving average of $44.19 and a 200 day simple moving average of $37.32. The company has a market cap of $9.39 billion, a P/E ratio of -109.17 and a beta of 0.97.

HF Sinclair (NYSE:DINO) last released its earnings results on Thursday, July 31st. The company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.61. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.93 billion. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%.HF Sinclair’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. Analysts anticipate that HF Sinclair Corporation will post 2.39 earnings per share for the current fiscal year.

HF Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $2.00 annualized dividend and a dividend yield of 4.0%. HF Sinclair’s dividend payout ratio (DPR) is -434.78%.

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.