HF Sinclair Corporation (DINO) to Issue Quarterly Dividend of $0.53 on September 2nd

HF Sinclair Corporation (NYSE:DINO) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Tuesday, August 11th will be given a dividend of 0.525 per share on Wednesday, September 2nd. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 11th. This is a 5.0% increase from HF Sinclair’s previous quarterly dividend of $0.50.

HF Sinclair has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 3 years. HF Sinclair has a payout ratio of 63.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HF Sinclair to earn $8.11 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 24.7%.

HF Sinclair Trading Up 0.8%

Shares of DINO opened at $90.00 on Thursday. HF Sinclair has a 52-week low of $42.16 and a 52-week high of $94.22. The stock has a market cap of $16.22 billion, a PE ratio of 8.59 and a beta of 0.72. The firm’s fifty day moving average is $74.89 and its two-hundred day moving average is $64.02. The company has a quick ratio of 0.88, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

HF Sinclair (NYSE:DINO) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $4.49 by $0.82. HF Sinclair had a net margin of 6.13% and a return on equity of 18.62%. The firm had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $8.68 billion. During the same period last year, the firm posted $1.10 earnings per share. The company’s revenue for the quarter was up 53.2% on a year-over-year basis. Research analysts forecast that HF Sinclair will post 11.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DINO shares. Morgan Stanley boosted their target price on HF Sinclair from $69.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Freedom Capital downgraded HF Sinclair from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Barclays boosted their price target on shares of HF Sinclair from $81.00 to $86.00 and gave the company an “equal weight” rating in a research report on Wednesday. The Goldman Sachs Group restated a “buy” rating and set a $114.00 price objective on shares of HF Sinclair in a research report on Wednesday. Finally, Evercore started coverage on shares of HF Sinclair in a report on Friday, July 17th. They issued an “in-line” rating and a $85.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $80.75.

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.