Balyasny Asset Management L.P. Buys 1,593,875 Shares of HF Sinclair Co. (NYSE:DINO)

Balyasny Asset Management L.P. raised its holdings in shares of HF Sinclair Co. (NYSE:DINO - Free Report) by 645.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,840,955 shares of the company's stock after acquiring an additional 1,593,875 shares during the period. Balyasny Asset Management L.P. owned approximately 0.98% of HF Sinclair worth $64,525,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Virtu Financial LLC bought a new position in HF Sinclair during the third quarter worth about $298,000. World Investment Advisors LLC bought a new position in HF Sinclair during the 3rd quarter worth approximately $654,000. Wilmington Savings Fund Society FSB acquired a new position in HF Sinclair during the third quarter valued at approximately $134,000. JPMorgan Chase & Co. increased its stake in HF Sinclair by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 849,117 shares of the company's stock valued at $37,845,000 after purchasing an additional 33,373 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of HF Sinclair by 10.9% during the fourth quarter. Nordea Investment Management AB now owns 281,675 shares of the company's stock worth $9,828,000 after purchasing an additional 27,733 shares in the last quarter. 88.29% of the stock is currently owned by institutional investors.

HF Sinclair Price Performance

DINO remained flat at $34.12 during trading hours on Friday. 1,650,294 shares of the company traded hands, compared to its average volume of 2,444,735. The company has a market capitalization of $6.43 billion, a PE ratio of 41.61 and a beta of 0.81. HF Sinclair Co. has a fifty-two week low of $24.66 and a fifty-two week high of $58.73. The firm has a fifty day moving average price of $30.93 and a 200-day moving average price of $35.45. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.81.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.27) EPS for the quarter, topping analysts' consensus estimates of ($0.41) by $0.14. The company had revenue of $6.37 billion during the quarter, compared to the consensus estimate of $6.72 billion. HF Sinclair had a net margin of 0.62% and a return on equity of 1.98%. The company's quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 EPS. On average, equities research analysts anticipate that HF Sinclair Co. will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.86%. The ex-dividend date of this dividend is Thursday, May 15th. HF Sinclair's dividend payout ratio (DPR) is -259.74%.

Insider Transactions at HF Sinclair

In other news, Director Franklin Myers acquired 5,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were bought at an average cost of $35.66 per share, for a total transaction of $178,300.00. Following the purchase, the director now directly owns 154,065 shares of the company's stock, valued at approximately $5,493,957.90. This trade represents a 3.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Piper Sandler dropped their price objective on HF Sinclair from $46.00 to $40.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley cut their price objective on HF Sinclair from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. TD Cowen increased their target price on HF Sinclair from $27.00 to $29.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Mizuho cut their price target on shares of HF Sinclair from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company reduced their price target on shares of HF Sinclair from $44.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $42.30.

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.