🔴 HF Sinclair is trading 4% down today after $212M share repurchase and sector-wide energy decline

HF Sinclair is trading 4% down today at $84.72 following the announcement of a $212 million private share repurchase amid a broader selloff in the energy sector.

• The company is buying back 2.375 million shares from REH Advisors Inc. in a privately negotiated transaction funded with cash on hand.
• The energy sector is facing significant pressure, with the sector ETF down 1.8% as crude oil prices fall on optimism regarding a potential U.S.–Iran deal that could increase global supply.
• The downward move reflects a combination of company-specific news and a weak industry backdrop as energy names retreat across the board.