HF Sinclair (NYSE:DINO) Trading Down 4.9% – Here’s What Happened

HF Sinclair Co. (NYSE:DINO) traded down 4.9% during mid-day trading on Wednesday . The company traded as low as $29.85 and last traded at $30.19. 3,028,206 shares traded hands during trading, a decline of 2% from the average session volume of 3,087,177 shares. The stock had previously closed at $31.75.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DINO shares. JPMorgan Chase & Co. lowered their price objective 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. Mizuho decreased their price objective on shares of HF Sinclair from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Wells Fargo & Company cut shares of HF Sinclair from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $53.00 to $45.00 in a research note on Monday, December 9th. TD Cowen dropped their target price on shares of HF Sinclair from $43.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $49.00 target price on shares of HF Sinclair in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $51.00.

HF Sinclair Stock Up 1.7 %

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 business has a 50 day simple moving average of $35.89 and a 200-day simple moving average of $40.47. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 39.26 and a beta of 1.13.

HF Sinclair (NYSE:DINO) last issued its earnings results on Thursday, February 20th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.11). The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.56 billion. HF Sinclair had a return on equity of 1.98% and a net margin of 0.62%. On average, equities analysts expect that HF Sinclair Co. will post 2.39 EPS for the current year.

HF Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $2.00 annualized dividend and a yield of 6.21%. HF Sinclair’s dividend payout ratio (DPR) is 243.90%.

Insider Activity

In related news, CFO Atanas H. Atanasov purchased 7,000 shares of HF Sinclair stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $37.96 per share, with a total value of $265,720.00. Following the purchase, the chief financial officer now owns 71,927 shares of the company’s stock, valued at approximately $2,730,348.92. The trade was a 10.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Franklin Myers acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were bought at an average cost of $35.66 per share, with a total value of $178,300.00. Following the transaction, the director now directly owns 154,065 shares in the company, valued at $5,493,957.90. This trade represents a 3.35 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,635 shares of company stock valued at $632,860 in the last quarter. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On HF Sinclair

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in HF Sinclair by 53.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 934 shares of the company’s stock valued at $33,000 after acquiring an additional 327 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of HF Sinclair by 2.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,091 shares of the company’s stock valued at $669,000 after purchasing an additional 367 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in HF Sinclair by 1.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 20,023 shares of the company’s stock worth $685,000 after buying an additional 379 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in HF Sinclair by 0.6% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 64,275 shares of the company’s stock valued at $2,253,000 after buying an additional 390 shares during the period. Finally, Evergreen Private Wealth LLC grew its stake in shares of HF Sinclair by 1.5% in the fourth quarter. Evergreen Private Wealth LLC now owns 26,754 shares of the company’s stock worth $938,000 after acquiring an additional 392 shares in the last quarter. 88.29% of the stock is 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.