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

HF Sinclair Co. (NYSE:DINO) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 7,710,000 shares, an increase of 7.4% from the October 15th total of 7,180,000 shares. Based on an average daily trading volume, of 2,190,000 shares, the short-interest ratio is presently 3.5 days. Approximately 4.5% of the shares of the stock are short sold.

HF Sinclair Stock Performance

Shares of DINO stock opened at $43.04 on Tuesday. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 26.57 and a beta of 1.18. The stock has a fifty day moving average of $43.86 and a 200 day moving average of $48.64. HF Sinclair has a 52 week low of $38.25 and a 52 week high of $64.16. The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 0.24.

HF Sinclair (NYSE:DINO) last posted its earnings results on Thursday, October 31st. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.32 by $0.19. HF Sinclair had a net margin of 1.10% and a return on equity of 5.51%. The firm had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same period last year, the company posted $4.06 EPS. The company’s quarterly revenue was down 19.1% compared to the same quarter last year. As a group, research analysts expect that HF Sinclair will post 2.39 earnings per share for the current year.

HF Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.65%. HF Sinclair’s dividend payout ratio (DPR) is 123.46%.

Insider Activity at HF Sinclair

In other HF Sinclair news, Director Franklin Myers purchased 5,000 shares of HF Sinclair stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $38.76 per share, for a total transaction of $193,800.00. Following the completion of the transaction, the director now directly owns 145,293 shares of the company’s stock, 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 SEC, which is available through this hyperlink. 0.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. lifted its position in HF Sinclair by 25.6% during the first quarter. Sei Investments Co. now owns 61,664 shares of the company’s stock valued at $3,722,000 after buying an additional 12,558 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in HF Sinclair by 3.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 172,354 shares of the company’s stock worth $10,405,000 after acquiring an additional 5,624 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in HF Sinclair by 2.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 85,588 shares of the company’s stock worth $5,167,000 after purchasing an additional 1,885 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of HF Sinclair by 20.3% during the first quarter. Orion Portfolio Solutions LLC now owns 22,212 shares of the company’s stock valued at $1,341,000 after purchasing an additional 3,749 shares in the last quarter. Finally, Banco Santander S.A. bought a new stake in shares of HF Sinclair in the 1st quarter worth approximately $605,000. Hedge funds and other institutional investors own 88.29% of the company’s stock.

Wall Street Analysts Forecast Growth

DINO has been the topic of a number of analyst reports. Piper Sandler decreased their target price on shares of HF Sinclair from $58.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Barclays lowered their target price on HF Sinclair from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Scotiabank reduced their price target on HF Sinclair from $66.00 to $57.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Mizuho lowered their price objective on HF Sinclair from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price objective on HF Sinclair from $60.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.27.

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.