HF Sinclair (NYSE:DINO) Shares Gap Down After Earnings Miss

HF Sinclair Co. (NYSE:DINO - Get Free Report)'s share price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $37.86, but opened at $35.00. HF Sinclair shares last traded at $37.06, with a volume of 738,089 shares trading hands.

The company reported ($1.02) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.11). HF Sinclair had a return on equity of 5.51% and a net margin of 1.10%. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.56 billion.

HF Sinclair Announces Dividend

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 issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date of this dividend is Thursday, March 6th. HF Sinclair's dividend payout ratio is presently 123.46%.

Analyst Upgrades and Downgrades

A number of research firms have commented on DINO. TD Cowen lowered their target price on shares of HF Sinclair from $43.00 to $35.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Barclays decreased their price target on shares of HF Sinclair from $42.00 to $37.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Mizuho decreased their price target on shares of HF Sinclair from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, December 16th. UBS Group decreased their price target on shares of HF Sinclair from $58.00 to $55.00 and set a "buy" rating for the company in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price target on shares of HF Sinclair from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $51.00.

Insiders Place Their Bets

In other HF Sinclair news, CFO Atanas H. Atanasov purchased 5,000 shares of the business's stock in a transaction on Thursday, December 19th. The shares were purchased at an average cost of $33.77 per share, with a total value of $168,850.00. Following the transaction, the chief financial officer now directly owns 78,927 shares of the company's stock, valued at $2,665,364.79. This represents a 6.76 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.28% of the company's stock.

Institutional Investors Weigh In On HF Sinclair

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its position in HF Sinclair by 8.1% during the 3rd quarter. Pacer Advisors Inc. now owns 8,411,694 shares of the company's stock worth $374,909,000 after buying an additional 626,755 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of HF Sinclair by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,848,416 shares of the company's stock valued at $240,026,000 after purchasing an additional 737,696 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of HF Sinclair by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,512,051 shares of the company's stock valued at $193,197,000 after purchasing an additional 617,218 shares during the period. First Trust Advisors LP raised its holdings in shares of HF Sinclair by 53.7% in the 4th quarter. First Trust Advisors LP now owns 3,139,092 shares of the company's stock valued at $110,025,000 after purchasing an additional 1,096,485 shares during the period. Finally, Southeastern Asset Management Inc. TN bought a new stake in shares of HF Sinclair in the 4th quarter valued at about $96,344,000. 88.29% of the stock is owned by institutional investors.

HF Sinclair Stock Performance

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 stock's fifty day moving average price is $35.99 and its 200-day moving average price is $41.28. The company has a market capitalization of $6.83 billion, a P/E ratio of 22.42 and a beta of 1.22.

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.