HF Sinclair: Initiation of Coverage- A Solid Renewable Diesel Play That Is Poised to Turn Regulatory Shifts Into Big Wins!

HF Sinclair Corporation reported its financial results for the second quarter of 2025, showing a mixture of progress and challenges across its various business segments. In the Refining segment, HF Sinclair demonstrated strong operational performance. The company completed significant turnaround activities at its Tulsa and Parco refineries, which contributed to sequential improvements in capture and crude throughput. However, the segment faced headwinds from weaker crude differentials and a rising Renewable Identification Numbers (RIN) price environment. Despite these challenges, the company’s refining operations showed notable progress with an operating expense reduction to $7.32 per throughput barrel, nearing their short-term target of $7.25.