Atanas H. Atanasov, the Executive Vice President and Chief Financial Officer of HF Sinclair Corp (NYSE:DINO), has recently acquired a significant amount of the company's common stock. According to a recent SEC filing, Atanasov purchased a total of 9,000 shares over two consecutive days. The timing appears strategic, as InvestingPro data shows the stock trading near its 52-week low, with management actively buying back shares.
The transactions took place on December 12 and December 13, 2024, at prices ranging from $37.4599 to $37.9578 per share. The total value of these acquisitions amounts to approximately $340,624. Following these purchases, Atanasov now holds 73,927 shares of HF Sinclair directly. The company maintains a healthy 5.3% dividend yield and has sustained dividend payments for 37 consecutive years, while operating with moderate debt levels. According to InvestingPro's analysis, the stock appears undervalued at current levels.
These transactions indicate Atanasov's growing stake in the company, reflecting his confidence in HF Sinclair's future prospects. For deeper insights into DINO's valuation and 13 additional exclusive ProTips, visit InvestingPro.
In other recent news, HF Sinclair Corp has disclosed plans for an $875 million capital expenditure for the fiscal year 2025. The company anticipates allocating $775 million for sustaining capital investments across its various segments, with the refining sector receiving the largest portion at $240 million. Additionally, $100 million has been earmarked for growth capital investments. In recent financial performance, HF Sinclair reported a net loss of $76 million in the third quarter of 2024, though its adjusted net income was $97 million. The company's refining segment saw adjusted EBITDA fall to $110 million due to lower gross margins, offset by higher refined product sales. The midstream segment's adjusted EBITDA, however, grew to $112 million. In future strategy, HF Sinclair is planning to spend approximately $800 million to $875 million in capital expenditures in 2025, focusing on operational reliability and shareholder returns. The company is also adjusting for the transition from the Blender's Tax Credit to a Carbon Intensity-based credit system. These are recent developments shaping the company's strategies and financial outlook.
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