HF Sinclair Co. Announces Quarterly Dividend of $0.50 (NYSE:DINO)

HF Sinclair Co. (NYSE:DINO) declared a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Stockholders of record on Thursday, November 21st will be given a dividend of 0.50 per share on Wednesday, December 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Thursday, November 21st.

HF Sinclair has increased its dividend payment by an average of 8.7% annually over the last three years. HF Sinclair has a payout ratio of 58.3% meaning its dividend is sufficiently covered by earnings. Analysts expect HF Sinclair to earn $3.53 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 56.7%.

HF Sinclair Stock Performance

Shares of NYSE:DINO opened at $43.04 on Tuesday. The firm has a fifty day simple moving average of $43.86 and a two-hundred day simple moving average of $48.64. HF Sinclair has a 52 week low of $38.25 and a 52 week high of $64.16. 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 has a market capitalization of $8.10 billion, a P/E ratio of 26.57 and a beta of 1.18.

HF Sinclair (NYSE:DINO) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.32 by $0.19. HF Sinclair had a return on equity of 5.51% and a net margin of 1.10%. The company had revenue of $7.21 billion during the quarter, compared to analyst estimates of $7.11 billion. During the same quarter last year, the business posted $4.06 earnings per share. The firm’s revenue was down 19.1% on a year-over-year basis. On average, analysts expect that HF Sinclair will post 2.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DINO has been the topic of several recent research reports. Scotiabank decreased their price target on HF Sinclair from $66.00 to $57.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on shares of HF Sinclair from $60.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Piper Sandler dropped their price target on shares of HF Sinclair from $58.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Barclays reduced their price target on HF Sinclair from $44.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Mizuho dropped their price objective on HF Sinclair from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.27.

Insiders Place Their Bets

In related news, Director Franklin Myers purchased 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $38.76 per share, for a total transaction of $193,800.00. Following the acquisition, the director now owns 145,293 shares of the company’s stock, valued at $5,631,556.68. The trade was a 3.56 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.28% of the stock is owned by company insiders.

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.