HF Sinclair Said On July 28, Entered Into A Stock Purchase Agreement With REH Company Under Which Co Agreed To Repurchase From Selling Stockholder 8.2M Shares Of Co's Outstanding Common Stock At $50.07/Share
Portfolio Pulse from Charles Gross
HF Sinclair (DINO) has entered into a stock purchase agreement with REH Company to repurchase 8.2 million shares of its outstanding common stock at $50.07 per share.
July 31, 2023 | 10:55 am
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POSITIVE IMPACT
HF Sinclair's repurchase of 8.2 million shares could potentially increase the stock's value due to the reduction in shares outstanding.
Share repurchases often lead to an increase in the stock's value as they reduce the number of shares outstanding, which can increase earnings per share and the market price. Therefore, this news could potentially have a positive impact on HF Sinclair's stock price in the short term.
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