Franklin Myers, a director at HF Sinclair Corp (NYSE:DINO), recently acquired 5,000 shares of the company's common stock. The purchase, made on November 1, 2024, was executed at a price of $38.755 per share, totaling approximately $193,775. Following this transaction, Myers holds a total of 145,293 shares in the company. This acquisition reflects Myers' continued investment in HF Sinclair, a Dallas-based company operating in the energy and transportation sector.
In other recent news, HF Sinclair Corporation reported a net loss of $76 million for the third quarter of 2024, influenced by special items reducing net income by $172 million. However, the adjusted net income was $97 million, a decrease from the previous year's $760 million. The company's adjusted EBITDA for the quarter was $316 million, a significant drop from the $1.2 billion reported in the same period last year.
Among recent developments, the company's refining segment saw a fall in adjusted EBITDA to $110 million due to lower gross margins, offset by higher refined product sales. The renewables sector achieved record sales volumes but experienced a decrease in adjusted EBITDA to $2 million. The marketing segment's EBITDA increased to $22 million, while the lubricants and specialties EBITDA decreased to $76 million. The midstream segment's adjusted EBITDA grew to $112 million.
In other news, HF Sinclair returned $222 million to shareholders and declared a quarterly dividend of $0.50 per share. The company maintains a strong balance sheet with a debt-to-cap ratio of 22% and projects $800 million in capital expenditures for 2024. Looking ahead, the company plans to spend approximately $800 million to $875 million in capital expenditures in 2025, focusing on operational reliability and shareholder returns.
InvestingPro Insights
Franklin Myers' recent purchase of HF Sinclair Corp (NYSE:DINO) shares aligns with several notable trends identified by InvestingPro. The director's decision to increase his stake comes at a time when the stock is trading near its 52-week low and appears to be in oversold territory, according to the Relative Strength Index (RSI). This could suggest that Myers sees value in the company's current stock price.
InvestingPro data reveals that HF Sinclair has a market capitalization of $7.28 billion and is trading at a price-to-book ratio of 0.76, indicating that the stock may be undervalued relative to its assets. The company's dividend yield stands at an attractive 5.17%, which is particularly noteworthy given that HF Sinclair has maintained dividend payments for 37 consecutive years and has raised its dividend for the past three years, as highlighted by InvestingPro Tips.
Despite facing challenges such as a 10.66% decline in revenue over the last twelve months, HF Sinclair remains profitable, with a P/E ratio of 21.5. The company's management has been aggressively buying back shares, which, combined with the high dividend yield, contributes to a high shareholder yield—another positive signal for investors like Myers.
For readers interested in a more comprehensive analysis, InvestingPro offers 15 additional tips for HF Sinclair, providing a deeper understanding of the company's financial health and market position.
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