The benefit of hip stretching is that it makes your muscles more flexible allowing them to extend back far enough behind you before it comes forward again. This flexibility allows you to run faster and stronger. It also makes you less injury prone.
The following images show types of hip stretching exercises you can do at home
Image Source : Warm Up Exercises
How To Do The Hip Stretching Exercises
Stretch until the muscle just begins to feel tight (stretch point). It is important to hold the stretch position for 20 seconds, relax for 10 seconds and repeat each exercise for each leg. The stretching program should last 10 minutes. A practical program is to perform each exercise 2 or 3 times on each leg.