HF Sinclair Co. (NYSE:DINO) to Issue $0.50 Quarterly Dividend

HF Sinclair Co. (NYSE:DINO - Get Free Report) announced a quarterly dividend on Thursday, October 31st, Zacks 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 5.17%. The ex-dividend date is Thursday, November 21st.

HF Sinclair has raised its dividend by an average of 8.7% per year over the last three years. HF Sinclair has a payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect HF Sinclair to earn $3.77 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 53.1%.

HF Sinclair Price Performance

Shares of DINO traded up $0.09 during midday trading on Friday, reaching $38.70. The stock had a trading volume of 3,031,479 shares, compared to its average volume of 2,042,170. HF Sinclair has a 52 week low of $38.25 and a 52 week high of $64.16. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.12 and a quick ratio of 0.97. The firm's 50 day moving average price is $45.08 and its 200-day moving average price is $49.88. The company has a market capitalization of $7.38 billion, a P/E ratio of 6.19 and a beta of 1.16.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.22. HF Sinclair had a return on equity of 11.85% and a net margin of 3.80%. The company had revenue of $7.21 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter in the previous year, the business earned $4.06 EPS. The company's quarterly revenue was down 19.1% compared to the same quarter last year. On average, analysts forecast that HF Sinclair will post 2.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DINO. Wolfe Research began coverage on HF Sinclair in a report on Thursday, July 18th. They set a "peer perform" rating for the company. Piper Sandler reduced their target price on HF Sinclair from $58.00 to $49.00 and set an "overweight" rating for the company in a report on Friday, September 20th. Morgan Stanley reduced their target price on HF Sinclair from $63.00 to $57.00 and set an "overweight" rating for the company in a report on Monday, September 16th. Wells Fargo & Company reduced their target price on HF Sinclair from $54.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. Finally, UBS Group reduced their target price on HF Sinclair from $73.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, August 13th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $55.82.

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.