Short Interest in HF Sinclair Co. (NYSE:DINO) Declines By 15.7%

HF Sinclair Co. (NYSE:DINO - Get Free Report) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 8,570,000 shares, a decline of 15.7% from the March 31st total of 10,170,000 shares. Based on an average daily trading volume, of 3,480,000 shares, the short-interest ratio is currently 2.5 days. Approximately 5.0% of the company's stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays cut their target price on shares of HF Sinclair from $35.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Mizuho reduced their price objective on HF Sinclair from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Scotiabank lowered their target price on shares of HF Sinclair from $51.00 to $49.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company reduced their price target on shares of HF Sinclair from $44.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Finally, Piper Sandler lowered their price objective on shares of HF Sinclair from $46.00 to $40.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, HF Sinclair has a consensus rating of "Hold" and a consensus target price of $42.30.

HF Sinclair Price Performance

NYSE:DINO traded up $1.46 during mid-day trading on Thursday, reaching $34.16. 1,263,187 shares of the stock were exchanged, compared to its average volume of 2,440,385. The company has a current ratio of 1.81, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average price of $30.87 and a 200 day moving average price of $35.64. HF Sinclair has a 1-year low of $24.66 and a 1-year high of $58.73. The firm has a market capitalization of $6.44 billion, a PE ratio of 41.66 and a beta of 0.81.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.14. HF Sinclair had a net margin of 0.62% and a return on equity of 1.98%. The company had revenue of $6.37 billion for the quarter, compared to analysts' expectations of $6.72 billion. During the same quarter in the previous year, the company posted $0.71 EPS. The business's revenue was down 9.3% compared to the same quarter last year. Research analysts expect that HF Sinclair will post 2.39 earnings per share for the current fiscal year.

HF Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.85%. HF Sinclair's dividend payout ratio is -259.74%.

Insider Buying and Selling

In related news, Director Franklin Myers purchased 5,000 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average price of $35.66 per share, for a total transaction of $178,300.00. Following the completion of the purchase, the director now owns 154,065 shares in the company, valued at approximately $5,493,957.90. This represents a 3.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HF Sinclair

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in HF Sinclair by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 849,117 shares of the company's stock worth $37,845,000 after acquiring an additional 33,373 shares in the last quarter. Amundi boosted its holdings in shares of HF Sinclair by 132.3% during the 4th quarter. Amundi now owns 1,748,994 shares of the company's stock worth $61,025,000 after buying an additional 996,155 shares during the period. Aigen Investment Management LP lifted its position in HF Sinclair by 124.9% during the 4th quarter. Aigen Investment Management LP now owns 63,231 shares of the company's stock worth $2,216,000 after acquiring an additional 35,121 shares during the last quarter. Norges Bank acquired a new stake in shares of HF Sinclair in the fourth quarter valued at about $41,317,000. Finally, Merit Financial Group LLC bought a new position in shares of HF Sinclair in the fourth quarter worth about $263,000. 88.29% of the stock is currently owned by institutional investors and hedge funds.

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.