HF Sinclair Earnings Due Friday; Triple-Digit Growth, Again?

HF Sinclair is slated to announce fourth quarter earning results before the market opens on Friday. HF Sinclair (DINO) was created by HollyFrontier’s acquisition of Sinclair Oil last year. The companies announced completion of the deal on March 22, 2022. On Feb. 15 this year, the company named Tim Go president and CEO, effective starting on May 9. It also named him to the board, effective immediately. HF Sinclair stock rose Thursday.

Like other petroleum companies, HF Sinclair had a really good run in 2022. Until the end of the year that is, when the sector seemed to, um, run out of gas. However, with the war in Ukraine entering its second year and the global economy emerging from Covid, prospects are good for the company, which has 100-year-old roots in the industry. On Thursday, HF Sinclair’s stock Relative Strength (RS) Rating shot up into a higher percentile, rising from 77 to 82.

HF Sinclair Stock One To Keep An Eye On

The raised 82 RS Rating shows that HF Sinclair stock bested 82% of all stocks for price performance this past year. Additionally, the best stocks to buy and watch typically have an RS Rating north of 80 as they launch their biggest runs. That makes Dallas-based Sinclair one to keep an eye on.

Among its other pertinent ratings, HF Sinclair stock boasts a 93 Composite Rating, putting it in the top 7% for a group of five key fundamental and technical metrics. It carries an 82 Earnings Per Share Rating, and a B- Accumulation/Distribution Rating on an A+ to E scale. The B- A/D Rating shows that institutional investors including insurance company funds and mutual funds are buying more shares than selling.

Looking For Winning Stocks? Try This Simple Routine

HF Sinclair stock is building a consolidation with a 66.29 buy point. See if it can clear the breakout price in volume at least 40% higher than normal. On Thursday Sinclair rose 1.2% to close at 53.34. It’s risen about 79% in the past year, from a 29.85 close on Feb., 24, 2022.

Triple-Digit Profit Growth 3 Times In A Row

HF Sinclair reported a 258% year-over-year surge in earnings last quarter, to $4.58 per share. That was its third quarter in a row of strong triple-digit profit growth. Sales for its most recent quarter soared 126% to $10.6 billion.

HF Sinclair stock holds the No. 5 rank among its peers in the Oil & Gas-Refining/Marketing industry group. Global Partners (GLP) and CrossAmerica Partners (CAPL) are also among the group’s highest-rated stocks.

IBD’s exclusive Relative Strength Rating identifies share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price movement over the last 52 weeks holds up against all the other stocks in our database.