HF Sinclair (NYSE:DINO) Shares Gap Down on Disappointing Earnings

HF Sinclair Co. (NYSE:DINO) shares gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. 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 the consensus estimate of ($0.91) by ($0.11). HF Sinclair had a return on equity of 5.51% and a net margin of 1.10%.

Wall Street Analysts Forecast Growth

DINO has been the subject of a number of analyst reports. UBS Group lowered their price objective on HF Sinclair from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Barclays dropped their price objective on HF Sinclair from $42.00 to $37.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. TD Cowen decreased their target price on HF Sinclair from $43.00 to $35.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company lowered shares of HF Sinclair from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $53.00 to $45.00 in a research note on Monday, December 9th. Finally, Mizuho reduced their price objective on shares of HF Sinclair from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, HF Sinclair has an average rating of “Hold” and a consensus price target of $51.00.

Insiders Place Their Bets

In other news, CFO Atanas H. Atanasov bought 5,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were bought at an average cost of $33.77 per share, for a total transaction of $168,850.00. Following the completion of the transaction, the chief financial officer now owns 78,927 shares in the company, valued at $2,665,364.79. This trade represents a 6.76 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is currently owned by company insiders.

Institutional Trading of HF Sinclair

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new position in HF Sinclair during the third quarter worth $27,000. Sugar Maple Asset Management LLC purchased a new position in HF Sinclair in the 4th quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of HF Sinclair during the 4th quarter worth about $31,000. Lee Danner & Bass Inc. acquired a new stake in shares of HF Sinclair during the 4th quarter worth about $32,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of HF Sinclair by 53.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 934 shares of the company’s stock worth $33,000 after buying an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 88.29% of the company’s stock.

HF Sinclair Trading Down 2.0 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.81 and a quick ratio of 0.90. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 22.99 and a beta of 1.22. The business’s 50-day moving average price is $36.02 and its two-hundred day moving average price is $41.37.

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.