HF Sinclair (NYSE:DINO) Hits New 52-Week High – Should You Buy?

Shares of HF Sinclair Corporation (NYSE:DINO) hit a new 52-week high during trading on Monday . The stock traded as high as $112.17 and last traded at $108.2170, with a volume of 8224 shares traded. The stock had previously closed at $107.84.

Wall Street Analysts Forecast Growth

DINO has been the subject of several research analyst reports. Evercore assumed coverage on shares of HF Sinclair in a research note on Friday, July 17th. They issued an “in-line” rating and a $85.00 price objective for the company. Raymond James Financial set a $105.00 price target on shares of HF Sinclair in a report on Wednesday, July 29th. UBS Group lifted their price target on shares of HF Sinclair from $105.00 to $126.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. The Goldman Sachs Group reiterated a “buy” rating and set a $114.00 price objective on shares of HF Sinclair in a report on Wednesday, July 29th. Finally, TD Cowen increased their price objective on shares of HF Sinclair from $79.00 to $98.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, HF Sinclair presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.25.

HF Sinclair Price Performance

The stock has a market cap of $19.73 billion, a P/E ratio of 10.33 and a beta of 0.71. The business has a 50 day simple moving average of $91.96 and a 200-day simple moving average of $73.77. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.10 and a current ratio of 1.97.

HF Sinclair (NYSE:DINO) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $5.31 EPS for the quarter, beating the consensus estimate of $4.49 by $0.82. The business had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $8.68 billion. HF Sinclair had a return on equity of 18.21% and a net margin of 6.13%.HF Sinclair’s revenue for the quarter was up 53.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. On average, sell-side analysts forecast that HF Sinclair Corporation will post 11.85 EPS for the current year.

HF Sinclair Increases Dividend

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

Insider Activity

In other news, Director Rhoman J. Hardy purchased 1,508 shares of the stock in a transaction on Tuesday, June 16th. The shares were acquired at an average price of $66.32 per share, for a total transaction of $100,010.56. Following the completion of the transaction, the director directly owned 15,037 shares of the company’s stock, valued at approximately $997,253.84. This trade represents a 11.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, SVP Dale Kunneman sold 8,936 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $755,806.88. Following the transaction, the senior vice president directly owned 42,561 shares in the company, valued at approximately $3,599,809.38. This represents a 17.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On HF Sinclair

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in HF Sinclair during the second quarter valued at about $1,291,602,000. California State Teachers Retirement System increased its holdings in shares of HF Sinclair by 6,576.6% in the second quarter. California State Teachers Retirement System now owns 12,375,830 shares of the company’s stock worth $861,977,000 after buying an additional 12,190,470 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of HF Sinclair in the 2nd quarter valued at about $140,654,000. NFJ Investment Group LLC boosted its holdings in HF Sinclair by 1,275.3% during the 4th quarter. NFJ Investment Group LLC now owns 1,873,541 shares of the company’s stock valued at $86,333,000 after acquiring an additional 1,737,318 shares during the period. Finally, Bank of America Corp DE purchased a new stake in HF Sinclair during the 2nd quarter valued at about $89,846,000. 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.