HF Sinclair Co. (NYSE:DINO) Short Interest Update

HF Sinclair Co. (NYSE:DINO) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 8,280,000 shares, an increase of 5.2% from the May 31st total of 7,870,000 shares. Based on an average daily volume of 1,730,000 shares, the days-to-cover ratio is currently 4.8 days. Approximately 4.7% of the company’s shares are sold short.

Insider Transactions at HF Sinclair

In other news, Director Franklin Myers bought 6,500 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was acquired at an average cost of $57.37 per share, with a total value of $372,905.00. Following the transaction, the director now directly owns 138,293 shares in the company, valued at approximately $7,933,869.41. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On HF Sinclair

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of HF Sinclair by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,345,088 shares of the company’s stock valued at $297,027,000 after purchasing an additional 98,477 shares in the last quarter. Vanguard Group Inc. grew its position in HF Sinclair by 9.3% in the fourth quarter. Vanguard Group Inc. now owns 18,214,568 shares of the company’s stock worth $1,012,184,000 after acquiring an additional 1,549,091 shares during the period. California State Teachers Retirement System grew its position in HF Sinclair by 16.4% in the fourth quarter. California State Teachers Retirement System now owns 300,942 shares of the company’s stock worth $16,723,000 after acquiring an additional 42,470 shares during the period. Goldman Sachs Group Inc. grew its position in HF Sinclair by 7.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 590,503 shares of the company’s stock worth $32,814,000 after acquiring an additional 39,637 shares during the period. Finally, Readystate Asset Management LP purchased a new position in HF Sinclair in the fourth quarter worth approximately $1,443,000. 88.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Scotiabank lifted their price target on HF Sinclair from $58.00 to $66.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Wells Fargo & Company dropped their target price on HF Sinclair from $76.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Piper Sandler dropped their target price on HF Sinclair from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Bank of America upgraded HF Sinclair from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $78.00 in a research note on Friday, March 15th. Finally, Argus upgraded HF Sinclair to a “hold” rating in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, HF Sinclair has a consensus rating of “Moderate Buy” and an average target price of $64.25.

HF Sinclair Stock Performance

Shares of DINO stock traded down $0.61 on Wednesday, hitting $52.99. The company had a trading volume of 902,527 shares, compared to its average volume of 1,999,303. The firm has a market cap of $10.18 billion, a P/E ratio of 6.56 and a beta of 1.20. The company has a 50-day moving average price of $54.80 and a 200-day moving average price of $56.51. The company has a quick ratio of 1.09, a current ratio of 2.17 and a debt-to-equity ratio of 0.26. HF Sinclair has a twelve month low of $43.29 and a twelve month high of $64.16.

HF Sinclair (NYSE:DINO) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.16. The company had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $7.54 billion. HF Sinclair had a return on equity of 15.10% and a net margin of 4.94%. HF Sinclair’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.00 EPS. As a group, equities research analysts predict that HF Sinclair will post 5.64 earnings per share for the current fiscal year.

HF Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, May 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.77%. HF Sinclair’s payout ratio is currently 24.75%.

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.