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

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

Insider Activity

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

Hedge Funds Weigh In On HF Sinclair

A number of institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its holdings in shares of HF Sinclair by 49.8% in the third quarter. Envestnet Asset Management Inc. now owns 56,330 shares of the company’s stock valued at $3,207,000 after purchasing an additional 18,734 shares during the period. Federated Hermes Inc. raised its holdings in shares of HF Sinclair by 6.8% in the 3rd quarter. Federated Hermes Inc. now owns 18,595 shares of the company’s stock valued at $1,059,000 after buying an additional 1,182 shares during the period. Natixis Advisors L.P. lifted its position in shares of HF Sinclair by 4.0% during the third quarter. Natixis Advisors L.P. now owns 31,986 shares of the company’s stock worth $1,821,000 after purchasing an additional 1,238 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in HF Sinclair during the 3rd quarter worth approximately $685,000. Finally, Glenmede Trust Co. NA boosted its position in HF Sinclair by 215.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 142,891 shares of the company’s stock valued at $8,135,000 after buying an additional 97,578 shares during the period. Hedge funds and other institutional investors own 88.29% of the company’s stock.

Wall Street Analysts Forecast Growth

DINO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on HF Sinclair from $61.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday. Bank of America upgraded HF Sinclair from a “neutral” rating to a “buy” rating and upped their target price for the company from $62.00 to $78.00 in a research report on Friday, March 15th. Scotiabank raised their price target on shares of HF Sinclair from $58.00 to $66.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Mizuho cut their price objective on shares of HF Sinclair from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Finally, Barclays cut their price target on HF Sinclair from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Monday. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.25.

HF Sinclair Trading Down 1.1 %

DINO stock opened at $53.00 on Thursday. The business’s 50-day moving average is $54.71 and its 200 day moving average is $56.48. HF Sinclair has a 12-month low of $43.29 and a 12-month high of $64.16. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 6.56 and a beta of 1.19. The company has a current ratio of 2.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.26.

HF Sinclair (NYSE:DINO) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.16. HF Sinclair had a return on equity of 15.10% and a net margin of 4.94%. The firm had revenue of $7.03 billion for the quarter, compared to analyst estimates of $7.54 billion. During the same period in the previous year, the company posted $2.00 earnings per share. The business’s revenue was down 7.1% on a year-over-year basis. On average, sell-side analysts anticipate that HF Sinclair will post 5.64 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

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

About HF Sinclair

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.