HF Sinclair (NYSE:DINO) Trading Down 5.2% on Analyst Downgrade

HF Sinclair Co. (NYSE:DINO) shares dropped 5.2% during trading on Monday after Mizuho lowered their price target on the stock from $50.00 to $45.00. Mizuho currently has a neutral rating on the stock. HF Sinclair traded as low as $35.51 and last traded at $35.52. Approximately 1,473,560 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 1,997,205 shares. The stock had previously closed at $37.45.

DINO has been the topic of a number of other reports. Morgan Stanley dropped their price objective on HF Sinclair from $63.00 to $57.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their price target on HF Sinclair from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Wells Fargo & Company cut HF Sinclair from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $53.00 to $45.00 in a research report on Monday, December 9th. BMO Capital Markets dropped their target price on shares of HF Sinclair from $57.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Piper Sandler cut their target price on shares of HF Sinclair from $58.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $53.00.

Insider Transactions at HF Sinclair

In related news, Director Franklin Myers purchased 5,000 shares of the stock in a transaction on Friday, November 1st. The shares were purchased 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Atanas H. Atanasov acquired 7,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $37.96 per share, with a total value of $265,720.00. Following the completion of the purchase, the chief financial officer now directly owns 71,927 shares of the company’s stock, valued at approximately $2,730,348.92. This represents a 10.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.28% of the stock is owned by insiders.

Hedge Funds Weigh In On HF Sinclair

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

HF Sinclair Stock Performance

The stock has a 50 day moving average price of $41.69 and a two-hundred day moving average price of $46.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.81 and a quick ratio of 0.90. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 21.98 and a beta of 1.20.

HF Sinclair (NYSE:DINO) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.11 billion. During the same quarter in the prior year, the firm earned $4.06 EPS. The company’s revenue was down 19.1% on a year-over-year basis. On average, analysts predict that HF Sinclair Co. will post 2.27 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.62%. The ex-dividend date 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.