HF Sinclair Co. (NYSE:DINO) Sees Large Growth in Short Interest

HF Sinclair Co. (NYSE:DINO) was the recipient of 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 volume of 2,190,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 4.5% of the company’s shares are sold short.

HF Sinclair Stock Up 0.7 %

Shares of DINO traded up $0.32 during mid-day trading on Tuesday, reaching $43.36. The company had a trading volume of 213,156 shares, compared to its average volume of 2,018,197. 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 company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 26.57 and a beta of 1.18. The firm has a 50-day moving average price of $43.86 and a 200 day moving average price of $48.64.

HF Sinclair (NYSE:DINO) last released 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 return on equity of 5.51% and a net margin of 1.10%. The business had revenue of $7.21 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same period in the previous year, the company posted $4.06 earnings per share. The company’s revenue for the quarter was down 19.1% compared to the same quarter last year. On average, sell-side analysts forecast that HF Sinclair will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.61%. HF Sinclair’s dividend payout ratio is currently 123.46%.

Analyst Ratings Changes

A number of research firms have commented on DINO. UBS Group lowered their price target on HF Sinclair from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Morgan Stanley decreased their target price on HF Sinclair from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, September 16th. BMO Capital Markets dropped their price target on HF Sinclair from $57.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Wells Fargo & Company reduced their price objective on shares of HF Sinclair from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Finally, Piper Sandler dropped 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 report on Friday, September 20th. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.27.

Insider Activity

In other news, Director Franklin Myers acquired 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $38.76 per share, with a total value of $193,800.00. Following the completion of the purchase, the director now owns 145,293 shares in the company, valued at approximately $5,631,556.68. The trade was a 3.56 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Matrix Trust Co increased its position in shares of HF Sinclair by 122.4% during the third quarter. Matrix Trust Co now owns 576 shares of the company’s stock valued at $26,000 after acquiring an additional 317 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of HF Sinclair in the 3rd quarter worth $27,000. Innealta Capital LLC purchased a new position in shares of HF Sinclair in the second quarter worth $34,000. Massmutual Trust Co. FSB ADV raised its stake in shares of HF Sinclair by 82.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 820 shares of the company’s stock worth $37,000 after purchasing an additional 370 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new position in shares of HF Sinclair during the third quarter valued at $50,000. Institutional investors own 88.29% of the company’s stock.

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.