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

HF Sinclair Co. (NYSE:DINO) was the target of a significant increase in short interest in 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 trading volume, of 1,730,000 shares, the days-to-cover ratio is presently 4.8 days. Currently, 4.7% of the company’s stock are sold short.

Insider Activity

In related news, Director Franklin Myers purchased 6,500 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average price of $57.37 per share, with a total value of $372,905.00. Following the acquisition, the director now owns 138,293 shares in the company, valued at approximately $7,933,869.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Keynote Financial Services LLC purchased a new stake in shares of HF Sinclair during the first quarter worth $663,000. DekaBank Deutsche Girozentrale increased its stake in HF Sinclair by 10.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 95,407 shares of the company’s stock valued at $5,668,000 after purchasing an additional 9,416 shares during the last quarter. Boston Partners lifted its holdings in shares of HF Sinclair by 28.0% during the first quarter. Boston Partners now owns 191,938 shares of the company’s stock worth $11,585,000 after purchasing an additional 41,947 shares during the period. Cetera Advisors LLC acquired a new stake in shares of HF Sinclair during the first quarter worth $1,146,000. Finally, Cetera Investment Advisers lifted its holdings in HF Sinclair by 42.6% in the first quarter. Cetera Investment Advisers now owns 31,049 shares of the company’s stock valued at $1,874,000 after acquiring an additional 9,275 shares during the period. Hedge funds and other institutional investors own 88.29% of the company’s stock.

HF Sinclair Trading Down 1.1 %

HF Sinclair stock traded down $0.61 during trading hours on Wednesday, reaching $52.99. The stock had a trading volume of 902,527 shares, compared to its average volume of 1,999,303. The company has a fifty day simple moving average of $54.80 and a 200-day simple moving average of $56.51. The stock has a market cap of $10.18 billion, a PE ratio of 6.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.17 and a quick ratio of 1.09. HF Sinclair has a 52 week low of $43.29 and a 52 week high of $64.16.

HF Sinclair (NYSE:DINO) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.16. The firm had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $7.54 billion. HF Sinclair had a net margin of 4.94% and a return on equity of 15.10%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.00 earnings per share. Analysts forecast that HF Sinclair will post 5.64 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors 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 yield of 3.77%. HF Sinclair’s payout ratio is 24.75%.

Analysts Set New Price Targets

A number of brokerages have commented on DINO. Bank of America upgraded HF Sinclair from a “neutral” rating to a “buy” rating and boosted their target price for the company from $62.00 to $78.00 in a research note on Friday, March 15th. JPMorgan Chase & Co. cut their price objective on HF Sinclair from $61.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday. Wells Fargo & Company cut their price target on HF Sinclair from $76.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, June 6th. Scotiabank upped their price objective on HF Sinclair from $58.00 to $66.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Piper Sandler cut their price target 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. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.25.

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.