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

HF Sinclair Co. (NYSE:DINO) announced a quarterly dividend on Thursday, August 1st, NASDAQ reports. Stockholders of record on Wednesday, August 21st will be given a dividend of 0.50 per share on Thursday, September 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, August 21st.

HF Sinclair has raised its dividend payment by an average of 8.7% annually over the last three years. HF Sinclair has a payout ratio of 36.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HF Sinclair to earn $5.73 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 34.9%.

HF Sinclair Trading Down 2.7 %

Shares of NYSE:DINO traded down $1.41 during trading on Thursday, reaching $50.06. 2,156,025 shares of the company traded hands, compared to its average volume of 1,978,036. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 6.40 and a beta of 1.19. HF Sinclair has a 52-week low of $47.09 and a 52-week high of $64.16. The company has a current ratio of 2.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average is $51.94 and its 200-day moving average is $55.63.

HF Sinclair (NYSE:DINO) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.16. HF Sinclair had a return on equity of 15.10% and a net margin of 4.94%. The firm had revenue of $7.03 billion during the quarter, compared to analyst estimates of $7.54 billion. During the same quarter in the prior year, the firm posted $2.00 earnings per share. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, analysts forecast that HF Sinclair will post 3.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wolfe Research assumed coverage on HF Sinclair in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Piper Sandler dropped their price target on HF Sinclair from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Argus raised HF Sinclair to a “hold” rating in a research note on Wednesday, June 26th. Scotiabank raised their price target on HF Sinclair from $58.00 to $66.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company dropped their price target on HF Sinclair from $75.00 to $61.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, HF Sinclair currently has an average rating of “Moderate Buy” and an average target price of $62.67.

Insider Activity

In other HF Sinclair news, Director Franklin Myers acquired 6,500 shares of HF Sinclair stock in a transaction that occurred on Monday, May 20th. The stock was bought at an average cost of $57.37 per share, for a total transaction of $372,905.00. Following the acquisition, the director now owns 138,293 shares of the company’s stock, valued at $7,933,869.41. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.

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.