Franklin Myers, a director at HF Sinclair Corp (DINO), recently added 7,250 shares. The buy increased his holdings by about 7.3 percent, and came to a total price just under $406,000.
This adds to a 4,800 share buy that the director made earlier in August, and 10,700 shares back in May. Overall, insiders have been fairly active as both buyers and sellers in the past few months, with more buying than selling.
Overall, insiders own 25.8 percent of the company.
The oil and gas exploration company is up nearly 70 percent in the past year, as energy prices have held up strongly. Earnings have soared 623 percent, and revenue is up nearly 144 percent, beating the move higher in oil as a whole.
Action to take: Shares trade at under 6 times earnings, even with the big move higher in price. It’s likely that the stock could trend higher from here in the months ahead, particularly if energy prices continue to hold up well. Today’s buyers can also get a growing dividend with a yield just under 3 percent.
For traders, the January 2023 $65 calls, last going for about $3.60, offer a mid-double-digit return from here on a continued rally in shares. Traders can also look to buy on a down day for oil, and take profits on the next surge higher in oil given the sizeable daily swings.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.