HF Sinclair Corporation (NYSE:DINO) Short Interest Down 13.1% in March

Key Points

• Short interest fell 13.1% in March to 6,689,251 shares (about 3.7% of the company's stock), leaving a short-interest ratio of approximately 1.8 days based on average volume.
• HF Sinclair beat quarterly expectations with $1.20 EPS vs. $0.83 expected and $6.46B in revenue, and the stock is trading around $63, near its 52-week high of $64.70.
• Analysts have trimmed targets and the consensus rating is "Hold" with a $60.18 price target; analyst mix: 1 Strong Buy, 6 Buy, 7 Hold and 1 Sell.

HF Sinclair Corporation (NYSE:DINO - Get Free Report) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 6,689,251 shares, a decline of 13.1% from the February 26th total of 7,698,376 shares. Currently, 3.7% of the company's stock are sold short. Based on an average trading volume of 3,763,956 shares, the short-interest ratio is presently 1.8 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Convergence Investment Partners LLC bought a new stake in HF Sinclair in the 3rd quarter valued at about $1,408,000. Citigroup Inc. increased its holdings in shares of HF Sinclair by 41.4% during the third quarter. Citigroup Inc. now owns 445,121 shares of the company's stock worth $23,298,000 after purchasing an additional 130,338 shares during the period. RWC Asset Management LLP raised its position in shares of HF Sinclair by 30.3% in the third quarter. RWC Asset Management LLP now owns 143,634 shares of the company's stock valued at $7,518,000 after buying an additional 33,394 shares in the last quarter. Diversified Trust Co raised its position in shares of HF Sinclair by 211.5% in the third quarter. Diversified Trust Co now owns 45,509 shares of the company's stock valued at $2,382,000 after buying an additional 30,901 shares in the last quarter. Finally, Pacific Heights Asset Management LLC boosted its stake in shares of HF Sinclair by 16.7% in the third quarter. Pacific Heights Asset Management LLC now owns 350,000 shares of the company's stock valued at $18,319,000 after buying an additional 50,000 shares during the period. 88.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays decreased their price target on shares of HF Sinclair from $54.00 to $51.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 13th. Weiss Ratings restated a "hold (c)" rating on shares of HF Sinclair in a report on Friday. Piper Sandler decreased their target price on shares of HF Sinclair from $67.00 to $63.00 and set an "overweight" rating for the company in a research report on Thursday, February 19th. BMO Capital Markets lowered their price target on shares of HF Sinclair from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, February 23rd. Finally, Scotiabank cut shares of HF Sinclair from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from $62.00 to $53.00 in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $60.18.

HF Sinclair Stock Performance

NYSE DINO opened at $63.09 on Tuesday. The stock has a market cap of $11.37 billion, a PE ratio of 20.55 and a beta of 0.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.94. The firm has a 50-day moving average of $55.20 and a 200-day moving average of $52.66. HF Sinclair has a 52-week low of $24.66 and a 52-week high of $64.70.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.37. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.19 billion. HF Sinclair had a net margin of 2.15% and a return on equity of 10.20%. HF Sinclair's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.02) EPS. On average, sell-side analysts anticipate that HF Sinclair will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.50 per share. The ex-dividend date was Monday, March 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. HF Sinclair's dividend payout ratio (DPR) is 65.15%.

About HF Sinclair

HF Sinclair Corporation is a diversified energy manufacturing company engaged in the refining, marketing, and transportation of petroleum products across the United States. The company operates a network of refineries and processing facilities that convert crude oil and other feedstocks into fuels and specialty products. Its integrated model encompasses upstream supply agreements, midstream logistics, and downstream marketing channels, positioning HF Sinclair as a key supplier of refined products to wholesale and retail markets.

The company’s core product slate includes gasoline, diesel, jet fuel, and renewable fuels such as renewable diesel and biodiesel.

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