2024-05-29 05:33:03 ET
Summary
- HF Sinclair announces $1 billion share repurchase program and regular quarterly dividend, signaling intention to return capital to shareholders.
- The company operates as an independent energy company, producing and marketing high-value light products such as gasoline, diesel fuel, and jet fuel.
- Q1 earnings show lower adjusted net income and EBITDA, but cash flow remains resilient and buybacks are expected to continue.
- Shares are a hold with price target of $60.
Investment Thesis
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For further details see:
HF Sinclair: Attractive Cash Flow, Stable Crack Spread