7 Worst Beaten Down Stocks to Invest In

2. HF Sinclair (NYSE:DINO)

Current share price: $44.57

52 Week Range: $44.07 – $64.16

Year to date Gain as of October 1: – 20.21%

Number of Hedge Fund Holders: 30

HF Sinclair Corporation (NYSE:DINO) is an independent energy company that produces and markets gasoline, diesel fuel, jet fuel, and renewable diesel and speciality lubricant products. The company has felt the full brunt of the energy sector coming under pressure amid a slowing global economy.

Wider economic factors and volatile gasoline margins continue to pressure the refining sector. These market dynamics significantly impact how well businesses like HF Sinclair Corporation (NYSE:DINO) perform, consequently affecting their performance.

While the company has been under pressure owing to the overall energy sector struggling amid the high interest rates environment, it delivered solid second-quarter results. Earnings totalled $0.78 a share in the second quarter, above the $0.72 that analysts expected. Revenues were also up at $7.85 billion, better than the expected $7.83 billion.

HollyFrontier has become a fully integrated energy company after its acquisition of Sinclair Oil. With the addition of the recently acquired Puget Sound refinery, its refining footprint has expanded significantly to seven facilities. The acquisitions also expanded its reach to the West Coast, entering a more challenging refining market with fewer competitive advantages beyond its historical roots in the mid-continent and the Rockies.

Nonetheless, given the region’s expanding biofuel mandates, the foothold on the West Coast should aid with the expanding renewable diesel business. By adding a production facility and pretreatment project, the Sinclair acquisition expands HF Sinclair Corporation (NYSE:DINO)’s efforts towards renewable energy.

Although the company’s wide range of operations offers some protection from industry-specific difficulties, macroeconomic variables and industry trends still impact its overall performance. Nevertheless, HF Sinclair Corporation (NYSE:DINO) remains in a solid financial position, as evidenced by its 4.49% dividend yield, which affirms why it is one of the worst beaten-down stocks to invest in for passive income—additionally, the stock trades at a discount with a price-to-earnings multiple of 8.