Short Interest in HF Sinclair Co. (NYSE:DINO) Expands By 7.4%

HF Sinclair Co. (NYSE:DINO) saw a significant increase in short interest in the month of 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 days-to-cover ratio is currently 3.5 days. Currently, 4.5% of the company’s shares are short sold.

Insider Buying and Selling

In other news, Director Franklin Myers acquired 5,000 shares of the stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $38.76 per share, with a total value of $193,800.00. Following the completion of the transaction, the director now owns 145,293 shares of the company’s stock, valued at $5,631,556.68. This represents a 3.56 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is owned by insiders.

Hedge Funds Weigh In On HF Sinclair

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in HF Sinclair by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 18,910,599 shares of the company’s stock worth $1,141,633,000 after acquiring an additional 696,031 shares in the last quarter. Pacer Advisors Inc. grew its position in HF Sinclair by 8.1% during the 3rd quarter. Pacer Advisors Inc. now owns 8,411,694 shares of the company’s stock worth $374,909,000 after purchasing an additional 626,755 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 purchasing an additional 399,988 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in HF Sinclair by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,894,833 shares of the company’s stock valued at $218,163,000 after acquiring an additional 165,313 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of 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 buying an additional 997,629 shares during the last quarter. 88.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on DINO. Wells Fargo & Company dropped their price target on shares of HF Sinclair from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. UBS Group lowered their price objective on shares of HF Sinclair from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. BMO Capital Markets lowered their price target on HF Sinclair from $57.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Morgan Stanley dropped their price target 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. Finally, JPMorgan Chase & Co. reduced their price objective on HF Sinclair from $60.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.27.

HF Sinclair Price Performance

NYSE:DINO traded up $0.04 during trading hours on Tuesday, reaching $43.08. The stock had a trading volume of 315,823 shares, compared to its average volume of 2,018,721. The company has a 50 day moving average price of $43.86 and a two-hundred day moving average price 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 debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.81. The stock has a market capitalization of $8.11 billion, a PE ratio of 26.57 and a beta of 1.18.

HF Sinclair (NYSE:DINO) last announced its earnings results 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 return on equity of 5.51% and a net margin of 1.10%. The firm had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter in the previous year, the business earned $4.06 EPS. The company’s quarterly revenue was down 19.1% on a year-over-year basis. As a group, sell-side analysts anticipate that HF Sinclair will post 2.39 earnings per share for the current fiscal year.

HF Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Thursday, November 21st. HF Sinclair’s dividend payout ratio is currently 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.