HF Sinclair beats quarterly profit view, announces $1 billion share buyback [Reuters]
HF Sinclair Corporation (DINO)
Company Research
Source: Reuters
fuel supplies due to refinery shutdowns in Russia and heavy maintenance in the U.S. Fuel supplies have tightened this year following outages at Russian refineries after Ukrainian drone attacks shut a significant section of Russia's refining capacity during the quarter. HF Sinclair's refinery gross margin was $12.70 per produced barrel, a 45% decline compared to the first quarter of 2023, the company said, as fuel prices scaled back. The company also announced a new share buyback program of $1 billion. The Dallas, Texas-based refiner posted adjusted net income of 71 cents per share for the three months ended March 31, compared with average analysts' estimate of 65 cents per share, according to LSEG data. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up Reporting by Sourasis Bose in Bengaluru; Editing by Ravi Prakash Kumar Our Standards:
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DINO
News
- HF Sinclair Co. (NYSE: DINO) had its price target lowered by analysts at Piper Sandler from $70.00 to $65.00. They now have an "overweight" rating on the stock.MarketBeat
- HF Sinclair Co. (NYSE: DINO) had its price target lowered by analysts at Mizuho from $65.00 to $64.00. They now have a "neutral" rating on the stock.MarketBeat
- Renewable diesel glut hits US refiner profits, threatens nascent industry [Reuters]Reuters
- HF Sinclair Corporation Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions [Yahoo! Finance]Yahoo! Finance
- HF Sinclair Corporation (NYSE:DINO) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
DINO
Earnings
- 5/8/24 - Beat
DINO
Sec Filings
- 5/16/24 - Form 4
- 5/16/24 - Form SC
- 5/16/24 - Form 8-K
- DINO's page on the SEC website