HF Sinclair Co. (NYSE:DINO) Short Interest Down 10.5% in September

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

HF Sinclair Price Performance

Shares of DINO stock traded up $0.06 during midday trading on Friday, reaching $45.29. 1,989,467 shares of the company were exchanged, compared to its average volume of 2,039,355. The company’s 50 day moving average price is $47.23 and its two-hundred day moving average price is $52.76. The company has a market cap of $8.70 billion, a P/E ratio of 5.61 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 2.12. HF Sinclair has a 12 month low of $44.07 and a 12 month 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, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.65 billion. HF Sinclair had a net margin of 3.80% and a return on equity of 11.85%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.60 EPS. On average, sell-side analysts expect that HF Sinclair will post 2.84 earnings per share for the current year.

HF Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Wednesday, August 21st. HF Sinclair’s dividend payout ratio (DPR) is currently 24.75%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DINO. Rise Advisors LLC acquired a new stake in HF Sinclair in the first quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in HF Sinclair in the first quarter valued at approximately $31,000. Innealta Capital LLC acquired a new stake in HF Sinclair in the second quarter valued at approximately $34,000. Quarry LP acquired a new stake in HF Sinclair in the fourth quarter valued at approximately $39,000. Finally, Bessemer Group Inc. lifted its stake in HF Sinclair by 201.0% in the first quarter. Bessemer Group Inc. now owns 1,171 shares of the company’s stock valued at $71,000 after acquiring an additional 782 shares during the last quarter. 88.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DINO shares. Morgan Stanley decreased 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. Wolfe Research initiated coverage on HF Sinclair in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group cut their target price on HF Sinclair from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Argus raised HF Sinclair to a “hold” rating in a research note on Wednesday, June 26th. Finally, Wells Fargo & Company cut their target price on HF Sinclair from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.73.

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.