HF Sinclair (NYSE:DINO) Shares Gap Down – Time to Sell?

HF Sinclair Corporation (NYSE:DINO)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $56.15, but opened at $53.74. HF Sinclair shares last traded at $53.5040, with a volume of 460,740 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DINO. Wells Fargo & Company began coverage on shares of HF Sinclair in a research note on Friday, October 17th. They issued an “equal weight” rating and a $58.00 target price on the stock. Raymond James Financial reiterated a “strong-buy” rating and issued a $65.00 price target (up from $60.00) on shares of HF Sinclair in a report on Friday, October 17th. Mizuho boosted their price objective on HF Sinclair from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Zacks Research downgraded HF Sinclair from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Piper Sandler raised their target price on HF Sinclair from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $59.18.

HF Sinclair Trading Down 3.9%

The company has a market cap of $9.92 billion, a P/E ratio of -117.25 and a beta of 0.99. The business has a fifty day simple moving average of $52.94 and a 200 day simple moving average of $45.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.82.

HF Sinclair (NYSE:DINO) last posted its quarterly earnings results on Thursday, October 30th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $1.94 by $0.50. The business had revenue of $7.25 billion during the quarter, compared to analyst estimates of $6.99 billion. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.89%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. Analysts anticipate that HF Sinclair Corporation 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 Friday, December 5th. Shareholders of record on Wednesday, November 19th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, November 19th. HF Sinclair’s payout ratio is 95.69%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in shares of HF Sinclair by 109.8% in the first quarter. AQR Capital Management LLC now owns 4,986,355 shares of the company’s stock worth $163,951,000 after purchasing an additional 2,609,857 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in HF Sinclair in the 2nd quarter valued at approximately $70,437,000. Price T Rowe Associates Inc. MD increased its stake in HF Sinclair by 1,633.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,694,918 shares of the company’s stock valued at $55,730,000 after buying an additional 1,597,152 shares during the period. Dimensional Fund Advisors LP lifted its position in HF Sinclair by 19.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,185,509 shares of the company’s stock worth $269,142,000 after buying an additional 1,337,093 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of HF Sinclair by 207.5% during the 1st quarter. Millennium Management LLC now owns 1,970,006 shares of the company’s stock valued at $64,774,000 after buying an additional 1,329,408 shares during the period. Institutional investors and hedge funds own 88.29% of the company’s stock.

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.