HF Sinclair (NYSE:DINO) Reaches New 52-Week Low Following Analyst Downgrade

HF Sinclair Co. (NYSE:DINO)’s share price hit a new 52-week low during mid-day trading on Wednesday after TD Cowen lowered their price target on the stock from $43.00 to $35.00. TD Cowen currently has a hold rating on the stock. HF Sinclair traded as low as $35.31 and last traded at $35.34, with a volume of 227451 shares changing hands. The stock had previously closed at $35.76.

DINO has been the topic of several other research reports. Wells Fargo & Company cut shares of HF Sinclair from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $53.00 to $45.00 in a research report on Monday, December 9th. Barclays cut their price objective on HF Sinclair from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. BMO Capital Markets decreased their target price on HF Sinclair from $57.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. UBS Group lowered their target price on HF Sinclair from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Scotiabank reduced their price target on HF Sinclair from $66.00 to $57.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.45.

Insider Activity

In other HF Sinclair news, CFO Atanas H. Atanasov bought 7,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $37.96 per share, for a total transaction of $265,720.00. Following the completion of the transaction, the chief financial officer now owns 71,927 shares in the company, valued at $2,730,348.92. This trade represents a 10.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Franklin Myers acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $38.76 per share, with a total value of $193,800.00. Following the acquisition, the director now directly owns 145,293 shares in the company, valued at $5,631,556.68. This represents a 3.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On HF Sinclair

A number of hedge funds and other institutional investors have recently made changes to their positions in DINO. V Square Quantitative Management LLC lifted its position in HF Sinclair by 11.1% during the third quarter. V Square Quantitative Management LLC now owns 2,262 shares of the company’s stock valued at $101,000 after acquiring an additional 226 shares during the last quarter. Empirical Finance LLC raised its position in HF Sinclair by 1.2% during the second quarter. Empirical Finance LLC now owns 19,300 shares of the company’s stock valued at $1,029,000 after acquiring an additional 228 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of HF Sinclair by 6.7% in the 2nd quarter. Fifth Third Bancorp now owns 4,258 shares of the company’s stock valued at $227,000 after purchasing an additional 267 shares during the period. Matrix Trust Co boosted its stake in shares of HF Sinclair by 122.4% during the 3rd quarter. Matrix Trust Co now owns 576 shares of the company’s stock worth $26,000 after acquiring an additional 317 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in HF Sinclair by 7.5% in the second quarter. iA Global Asset Management Inc. now owns 4,882 shares of the company’s stock valued at $260,000 after purchasing an additional 342 shares during the period. Institutional investors own 88.29% of the company’s stock.

HF Sinclair Stock Performance

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 firm’s fifty day moving average is $41.51 and its 200 day moving average is $46.26. The company has a market cap of $6.65 billion, a PE ratio of 22.07 and a beta of 1.20.

HF Sinclair (NYSE:DINO) last announced its earnings results on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.19. HF Sinclair had a net margin of 1.10% and a return on equity of 5.51%. The company had revenue of $7.21 billion for the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter in the previous year, the company posted $4.06 EPS. The firm’s quarterly revenue was down 19.1% on a year-over-year basis. As a group, research analysts predict that HF Sinclair Co. will post 2.27 EPS for the current fiscal year.

HF Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.00 annualized dividend and a dividend yield of 5.65%. HF Sinclair’s payout ratio is 123.46%.

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.