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

HF Sinclair Co. (NYSE:DINO) announced a quarterly dividend on Thursday, August 1st, NASDAQ reports. Shareholders 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 4.08%. The ex-dividend date is Wednesday, August 21st.

HF Sinclair has increased its dividend payment by an average of 8.7% annually over the last three years. HF Sinclair has a dividend payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

DINO opened at $49.03 on Tuesday. HF Sinclair has a 12-month low of $44.09 and a 12-month high of $64.16. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 6.07 and a beta of 1.19. 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 company’s 50 day moving average is $50.05 and its 200 day moving average is $55.00.

HF Sinclair (NYSE:DINO) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. HF Sinclair had a net margin of 3.80% and a return on equity of 11.73%. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the firm posted $2.60 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts predict that HF Sinclair will post 3.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on HF Sinclair from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday. Wolfe Research started coverage on shares of HF Sinclair in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company dropped their price target on shares of HF Sinclair from $61.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Piper Sandler decreased their price objective on shares of HF Sinclair from $65.00 to $58.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Finally, UBS Group dropped their target price on shares of HF Sinclair from $73.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.55.

HF Sinclair Company Profile

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.