HF Sinclair Corporation $DINO Holdings Cut by Sound Income Strategies LLC
by Danessa Lincoln · The Markets DailySound Income Strategies LLC lowered its stake in shares of HF Sinclair Corporation (NYSE:DINO – Free Report) by 18.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,942 shares of the company’s stock after selling 27,712 shares during the period. Sound Income Strategies LLC owned 0.07% of HF Sinclair worth $12,872,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in HF Sinclair during the second quarter valued at about $1,291,602,000. Dimensional Fund Advisors LP lifted its position in shares of HF Sinclair by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 9,249,939 shares of the company’s stock valued at $577,114,000 after buying an additional 103,135 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of HF Sinclair during the second quarter valued at about $140,654,000. NFJ Investment Group LLC bought a new stake in shares of HF Sinclair in the 2nd quarter valued at about $97,422,000. Finally, Bank of America Corp DE purchased a new position in shares of HF Sinclair in the 2nd quarter worth approximately $89,846,000. 88.29% of the stock is owned by institutional investors.
HF Sinclair Stock Performance
HF Sinclair stock traded up $0.20 during mid-day trading on Friday, reaching $120.92. 3,079,292 shares of the company traded hands, compared to its average volume of 2,696,075. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.97 and a quick ratio of 1.10. HF Sinclair Corporation has a fifty-two week low of $45.71 and a fifty-two week high of $124.22. The company has a market capitalization of $21.50 billion, a price-to-earnings ratio of 11.54 and a beta of 0.72. The firm’s fifty day moving average is $102.40 and its two-hundred day moving average is $81.53.
HF Sinclair (NYSE:DINO – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $5.31 EPS for the quarter, topping the consensus estimate of $4.49 by $0.82. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.68 billion. HF Sinclair had a net margin of 6.13% and a return on equity of 18.21%. The business’s revenue for the quarter was up 53.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share. On average, equities research analysts expect that HF Sinclair Corporation will post 18.15 earnings per share for the current fiscal year.
HF Sinclair Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 11th were given a dividend of $0.5250 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $2.10 dividend on an annualized basis and a yield of 1.7%. This is an increase from HF Sinclair’s previous quarterly dividend of $0.50. HF Sinclair’s payout ratio is presently 20.04%.
Insider Buying and Selling
In other HF Sinclair news, SVP Dale Kunneman sold 8,936 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $755,806.88. Following the sale, the senior vice president owned 42,561 shares in the company, valued at approximately $3,599,809.38. The trade was a 17.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. Raymond James Financial raised their target price on shares of HF Sinclair from $105.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Monday, September 14th. Morgan Stanley raised their price objective on HF Sinclair from $78.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, September 14th. Barclays boosted their target price on HF Sinclair from $81.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. TD Cowen upped their target price on HF Sinclair from $79.00 to $98.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, UBS Group increased their price target on HF Sinclair from $126.00 to $133.00 and gave the company a “buy” rating in a research note on Saturday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.00.
Get Our Latest Stock Analysis on HF Sinclair
HF Sinclair Profile
HF Sinclair Corporation is an independent energy company engaged in refining, marketing, and distributing petroleum products. The company produces gasoline, diesel fuel, jet fuel, asphalt, lubricants, and specialty products for commercial, industrial, and consumer markets. Its operations also include renewable energy activities, including the production and marketing of renewable diesel.
HF Sinclair markets fuel and related products through branded and unbranded channels under names that include Sinclair, HollyFrontier, and Petro-Canada Lubricants.
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