HF Sinclair Co. (NYSE:DINO) Sees Significant Decrease in Short Interest

HF Sinclair Co. (NYSE:DINO) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totalling 8,480,000 shares, a decline of 10.5% from the August 31st total of 9,470,000 shares. Currently, 4.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,030,000 shares, the days-to-cover ratio is currently 4.2 days.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays lifted their price target on HF Sinclair from $51.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Wells Fargo & Company lowered their price objective on shares of HF Sinclair from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Mizuho decreased their price target on shares of HF Sinclair from $55.00 to $53.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Argus raised HF Sinclair to a “hold” rating in a research note on Wednesday, June 26th. Finally, Morgan Stanley lowered their price objective on HF Sinclair from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.73.

HF Sinclair Stock Performance

NYSE DINO traded down $0.34 on Tuesday, reaching $44.23. 2,679,616 shares of the stock were exchanged, compared to its average volume of 2,047,537. The firm has a market capitalization of $8.50 billion, a PE ratio of 5.47 and a beta of 1.18. The company has a current ratio of 2.12, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The company’s 50-day simple moving average is $47.08 and its two-hundred day simple moving average is $52.51. HF Sinclair has a one year low of $43.88 and a one year high of $64.16.

HF Sinclair (NYSE:DINO) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. HF Sinclair had a net margin of 3.80% and a return on equity of 11.85%. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period last year, the firm posted $2.60 EPS. The company’s revenue was up .2% on a year-over-year basis. Analysts expect that HF Sinclair will post 2.84 EPS for the current fiscal year.

HF Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date was Wednesday, August 21st. HF Sinclair’s dividend payout ratio (DPR) is 24.75%.

Institutional Investors Weigh In On HF Sinclair

Institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC bought a new stake in shares of HF Sinclair in the 1st quarter valued at about $26,000. Riverview Trust Co purchased a new position in shares of HF Sinclair in the first quarter worth about $31,000. Innealta Capital LLC acquired a new stake in shares of HF Sinclair during the second quarter worth about $34,000. Quarry LP purchased a new stake in HF Sinclair in the fourth quarter valued at approximately $39,000. Finally, Bessemer Group Inc. increased its holdings in HF Sinclair by 201.0% in the 1st quarter. Bessemer Group Inc. now owns 1,171 shares of the company’s stock worth $71,000 after buying an additional 782 shares during the period. 88.29% of the stock is owned by institutional investors.

HF Sinclair Company Profile

HF Sinclair Corporation operates as an independent energy company. The company produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, specialty and modified asphalt, and others. It owns and operates refineries located in Kansas, Oklahoma, New Mexico, Utah, Washington, and Wyoming; and markets its refined products principally in the Southwest United States and Rocky Mountains, Pacific Northwest, and in other neighboring Plains states.