HF Sinclair (NYSE:DINO) Shares Gap Down – What’s Next?

HF Sinclair Corporation (NYSE:DINO) shares gapped down before the market opened 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 trading hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DINO shares. Scotiabank restated an “outperform” rating on shares of HF Sinclair in a report on Thursday, October 9th. Mizuho raised their target price on HF Sinclair from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Wall Street Zen raised HF Sinclair from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of HF Sinclair in a report on Thursday, November 13th. Finally, Piper Sandler raised their price objective on HF Sinclair from $59.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, HF Sinclair currently has a consensus rating of “Hold” and a consensus price target of $59.18.

HF Sinclair Trading Down 3.9%

The business has a 50-day moving average price of $52.94 and a 200-day moving average price of $45.94. The company has a quick ratio of 0.83, a current ratio of 1.82 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $9.92 billion, a P/E ratio of -117.25 and a beta of 0.99.

HF Sinclair (NYSE:DINO) last announced its quarterly earnings results on Thursday, October 30th. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.50. The firm had revenue of $7.25 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. Analysts anticipate that HF Sinclair Corporation will post 2.39 earnings per share for the current year.

HF Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Wednesday, November 19th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, November 19th. HF Sinclair’s payout ratio is currently 95.69%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DINO. Icon Advisers Inc. Co. boosted its stake in shares of HF Sinclair by 56.4% in the 3rd quarter. Icon Advisers Inc. Co. now owns 163,600 shares of the company’s stock valued at $8,563,000 after purchasing an additional 59,000 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in HF Sinclair by 151.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 902,091 shares of the company’s stock valued at $47,215,000 after buying an additional 543,983 shares during the period. Kestra Private Wealth Services LLC bought a new position in HF Sinclair in the third quarter valued at approximately $365,000. CANADA LIFE ASSURANCE Co acquired a new stake in HF Sinclair during the 3rd quarter worth $5,138,000. Finally, Caxton Associates LLP grew its holdings in HF Sinclair by 75.3% during the 3rd quarter. Caxton Associates LLP now owns 26,909 shares of the company’s stock worth $1,408,000 after acquiring an additional 11,560 shares during the period. 88.29% of the stock is currently owned by institutional investors.

HF Sinclair Company Profile

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.