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

Shares of HF Sinclair Corporation (NYSE:DINO) traded up 5.2% on Tuesday . The company traded as high as $112.71 and last traded at $112.4190. Approximately 1,964,544 shares were traded during trading, a decline of 27% from the average session volume of 2,676,760 shares. The stock had previously closed at $106.91.

Wall Street Analysts Forecast Growth

DINO has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of HF Sinclair from $81.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. Zacks Research upgraded HF Sinclair from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Mizuho boosted their target price on HF Sinclair from $79.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Evercore initiated coverage on HF Sinclair in a research note on Friday, July 17th. They issued an “in-line” rating and a $85.00 price target for the company. Finally, Morgan Stanley boosted their price target on HF Sinclair from $78.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.25.

HF Sinclair Trading Up 1.7%

The company has a current ratio of 1.97, a quick ratio of 1.10 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $94.09 and a two-hundred day moving average price of $75.05. The firm has a market capitalization of $20.62 billion, a price-to-earnings ratio of 11.07 and a beta of 0.71.

HF Sinclair (NYSE:DINO) last released its quarterly earnings data on Tuesday, July 28th. The company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.82. The company 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 firm’s revenue for the quarter was up 53.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. As a group, research analysts forecast that HF Sinclair Corporation will post 14.96 earnings per share for the current fiscal year.

HF Sinclair Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 11th were paid a $0.525 dividend. This is a positive change from HF Sinclair’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $2.10 annualized dividend and a dividend yield of 1.8%. HF Sinclair’s dividend payout ratio is currently 20.04%.

Insider Activity at HF Sinclair

In other news, SVP Dale Kunneman sold 8,936 shares of HF Sinclair stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $755,806.88. Following the sale, the senior vice president 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On HF Sinclair

Several large investors have recently modified their holdings of the business. Core Capital Management & Research inc. purchased a new position in HF Sinclair during the second quarter worth about $67,000. Sequoia Financial Advisors LLC lifted its holdings in shares of HF Sinclair by 67.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,553 shares of the company’s stock worth $1,014,000 after acquiring an additional 5,863 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of HF Sinclair during the 2nd quarter worth approximately $397,000. RFG Advisory LLC purchased a new position in shares of HF Sinclair during the 2nd quarter worth approximately $1,281,000. Finally, NewEdge Advisors LLC increased its holdings in HF Sinclair by 58.5% in the 2nd quarter. NewEdge Advisors LLC now owns 10,147 shares of the company’s stock valued at $707,000 after purchasing an additional 3,745 shares during the last quarter. Institutional investors and hedge funds 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.