HF Sinclair (NYSE:DINO) Shares Down 4.8% – Here’s What Happened

HF Sinclair Corporation (NYSE:DINO)’s stock price was down 4.8% during mid-day trading on Tuesday. The company traded as low as $119.07 and last traded at $119.1860. Approximately 521,705 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 2,643,614 shares. The stock had previously closed at $125.25.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. TD Cowen increased their price target on HF Sinclair from $100.00 to $110.00 and gave the company a “hold” rating in a research report on Thursday, October 22nd. Freedom Capital cut shares of HF Sinclair from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. The Goldman Sachs Group boosted their price objective on shares of HF Sinclair from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, October 9th. Zacks Research raised HF Sinclair from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Wells Fargo & Company upped their target price on shares of HF Sinclair from $93.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.92.

HF Sinclair Price Performance

The firm has a market cap of $20.78 billion, a P/E ratio of 11.12 and a beta of 0.72. The business has a 50-day moving average of $109.76 and a two-hundred day moving average of $76.55. The company has a current ratio of 1.97, a quick ratio of 1.10 and a debt-to-equity ratio of 0.27.

HF Sinclair (NYSE:DINO) last released its quarterly earnings data on Tuesday, July 28th. The company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.82. HF Sinclair had a net margin of 6.13% and a return on equity of 18.21%. The company had revenue of $10.39 billion during the quarter, compared to analyst estimates of $8.68 billion. During the same quarter in the previous year, the business posted $1.10 EPS. HF Sinclair’s revenue for the quarter was up 53.2% compared to the same quarter last year. On average, sell-side analysts anticipate that HF Sinclair Corporation will post 19.22 earnings per share for the current fiscal year.

Insider Buying and Selling at HF Sinclair

In related news, SVP Dale Kunneman sold 8,936 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $755,806.88. Following the completion of the sale, the senior vice president owned 42,561 shares of the company’s stock, valued at $3,599,809.38. This trade represents a 17.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On HF Sinclair

A number of large investors have recently made changes to their positions in DINO. BlackRock Inc. purchased a new position in HF Sinclair during the 2nd quarter valued at approximately $1,291,602,000. Dimensional Fund Advisors LP grew its stake in shares of HF Sinclair by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 9,249,939 shares of the company’s stock worth $577,114,000 after acquiring an additional 103,135 shares during the last quarter. Bank of New York Mellon Corp raised its stake in HF Sinclair by 3.8% in the 1st quarter. Bank of New York Mellon Corp now owns 2,063,790 shares of the company’s stock worth $128,760,000 after acquiring an additional 75,798 shares during the last quarter. NFJ Investment Group LLC acquired a new stake in shares of HF Sinclair during the second quarter worth about $97,422,000. Finally, Bank of America Corp DE purchased a new stake in shares of HF Sinclair in the 2nd quarter valued at $89,846,000. 88.29% of the stock is currently owned by institutional investors.

About HF Sinclair

HF Sinclair Corporation (NYSE:DINO) is an independent energy company engaged in refining, marketing and distributing petroleum products. The company operates refineries that process crude oil into gasoline, diesel, jet fuel, asphalt, lubricants and other specialty products. Its portfolio also includes renewable fuels activities and the production and marketing of base oils and other petroleum-based products.

HF Sinclair markets fuel under the Sinclair brand and supplies products to commercial customers, independent retailers and other wholesale and retail channels.