DALLAS—Timothy Go, CEO and President of HF Sinclair Corp (NYSE:DINO), recently acquired 2,500 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The transaction, which took place on November 5, 2024, was valued at approximately $99,922, with shares purchased at an average price of $39.969 each.
Following this purchase, Go holds a total of 126,513 shares indirectly through a family trust, where both he and his spouse serve as trustees and beneficiaries. Additionally, Go directly owns 112,369 shares of HF Sinclair stock.
This transaction reflects Go's continued investment in HF Sinclair, a company engaged in the energy and transportation sectors.
In other recent news, HF Sinclair Corporation reported a net loss of $76 million for the third quarter of 2024. The energy company's adjusted net income was $97 million, significantly lower than the previous year's $760 million. The adjusted EBITDA for the quarter was $316 million, a substantial drop from the $1.2 billion reported in the same period last year. Despite these losses, the company returned $222 million to shareholders and declared a quarterly dividend of $0.50 per share.
In terms of sector performance, the refining segment's adjusted EBITDA fell to $110 million, while the renewables sector saw record sales volumes but a decrease in adjusted EBITDA to $2 million. The marketing segment's EBITDA increased to $22 million, and the midstream segment's adjusted EBITDA grew to $112 million.
Looking ahead, HF Sinclair plans to spend approximately $800 million to $875 million in capital expenditures in 2025, focusing on operational reliability and shareholder returns. The company is also making adjustments for the transition from the Blender's Tax Credit to a Carbon Intensity-based credit system. These are among the recent developments in HF Sinclair's business operations.
InvestingPro Insights
Timothy Go's recent purchase of HF Sinclair Corp (NYSE:DINO) shares aligns with several positive indicators highlighted by InvestingPro. One InvestingPro Tip notes that management has been aggressively buying back shares, which, coupled with Go's personal investment, suggests confidence in the company's future prospects. This insider buying activity is particularly noteworthy given that DINO has maintained dividend payments for 37 consecutive years and has raised its dividend for 3 consecutive years, as per additional InvestingPro Tips.
The company's financial health appears robust, with InvestingPro Data showing a market capitalization of $7.96 billion and a price-to-book ratio of 0.81, indicating potential undervaluation. Moreover, DINO boasts a dividend yield of 4.73%, which may be attractive to income-focused investors.
Despite recent market challenges, with the stock experiencing a 21.74% year-to-date price total return decline, DINO's fundamentals remain solid. The company's revenue for the last twelve months stands at $29.74 billion, and it maintains profitability with a gross profit of $1.72 billion over the same period.
For investors seeking a deeper understanding of HF Sinclair's potential, InvestingPro offers 12 additional tips, providing a comprehensive analysis of the company's financial position and market performance.
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