HF Sinclair (NYSE:DINO) Reaches New 12-Month Low on Analyst Downgrade

HF Sinclair Co. (NYSE:DINO)’s share price reached a new 52-week low during trading on Wednesday after TD Cowen lowered their price target on the stock from $43.00 to $35.00. TD Cowen currently has a hold rating on the stock. HF Sinclair traded as low as $35.31 and last traded at $35.34, with a volume of 227451 shares. The stock had previously closed at $35.76.

Several other analysts have also recently commented on the stock. Morgan Stanley reduced their target price on shares of HF Sinclair from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. UBS Group reduced their price objective on shares of HF Sinclair from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Barclays dropped their target price on HF Sinclair from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Piper Sandler reduced their price target on HF Sinclair from $58.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Finally, Wells Fargo & Company lowered HF Sinclair from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $53.00 to $45.00 in a report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.45.

Insider Buying and Selling

In related news, Director Franklin Myers acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $38.76 per share, with a total value of $193,800.00. Following the completion of the purchase, the director now directly owns 145,293 shares in the company, valued at approximately $5,631,556.68. The trade was a 3.56 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Atanas H. Atanasov acquired 7,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $37.96 per share, with a total value of $265,720.00. Following the transaction, the chief financial officer now owns 71,927 shares of the company’s stock, valued at approximately $2,730,348.92. The trade was a 10.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 17,000 shares of company stock valued at $628,370. 0.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its holdings in shares of HF Sinclair by 58.3% during the second quarter. Pacer Advisors Inc. now owns 7,784,939 shares of the company’s stock worth $415,249,000 after purchasing an additional 2,868,273 shares during the last quarter. AQR Capital Management LLC boosted its stake in HF Sinclair by 54.9% in the 2nd quarter. AQR Capital Management LLC now owns 2,816,084 shares of the company’s stock worth $147,873,000 after buying an additional 997,629 shares during the last quarter. Squarepoint Ops LLC grew its holdings in HF Sinclair by 90.2% in the 2nd quarter. Squarepoint Ops LLC now owns 849,553 shares of the company’s stock valued at $45,315,000 after buying an additional 402,793 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of HF Sinclair by 7.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,749,406 shares of the company’s stock valued at $306,665,000 after acquiring an additional 399,988 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of HF Sinclair during the 2nd quarter worth about $12,001,000. 88.29% of the stock is currently owned by institutional investors and hedge funds.

HF Sinclair Price Performance

The company’s 50-day moving average is $41.06 and its 200-day moving average is $46.09. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 20.78 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.81 and a quick ratio of 0.90.

HF Sinclair (NYSE:DINO) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. The company had revenue of $7.21 billion for the quarter, compared to analyst estimates of $7.11 billion. HF Sinclair had a net margin of 1.10% and a return on equity of 5.51%. HF Sinclair’s revenue for the quarter was down 19.1% on a year-over-year basis. During the same quarter last year, the business earned $4.06 EPS. On average, research analysts expect that HF Sinclair Co. will post 2.27 earnings per share for the current year.

HF Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date of this dividend was Thursday, November 21st. HF Sinclair’s dividend payout ratio (DPR) is presently 123.46%.

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.