114,605 HF Sinclair Corporation $DINO Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its HF Sinclair stake by 250.2% in the third quarter, acquiring 114,605 additional shares and ending the period with 160,405 shares worth approximately $17.2 million.
• Institutional investors own 88.29% of HF Sinclair, while insider ownership is 0.26%; senior vice president Dale Kunneman separately sold 8,936 shares for about $755,807.
• HF Sinclair reported quarterly EPS of $5.31, exceeding estimates by $0.82, while revenue rose 53.2% year over year to $10.39 billion. The company also raised its quarterly dividend to $0.525 per share, and analysts maintain a consensus “Moderate Buy” rating.

Assenagon Asset Management S.A. boosted its stake in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 250.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,405 shares of the company's stock after purchasing an additional 114,605 shares during the quarter. Assenagon Asset Management S.A. owned about 0.09% of HF Sinclair worth $17,215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of HF Sinclair during the second quarter worth approximately $1,291,602,000. Amundi grew its position in shares of HF Sinclair by 12.7% in the second quarter. Amundi now owns 309,993 shares of the company's stock valued at $21,591,000 after purchasing an additional 35,049 shares during the last quarter. Energy Income Partners LLC acquired a new stake in HF Sinclair during the 2nd quarter worth approximately $5,210,000. State of Wyoming acquired a new stake in HF Sinclair during the 2nd quarter worth approximately $859,000. Finally, Corient Private Wealth LP bought a new stake in HF Sinclair in the 2nd quarter valued at $913,000. 88.29% of the stock is owned by institutional investors.

Insider Activity at HF Sinclair

In other news, SVP Dale Kunneman sold 8,936 shares of the business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $755,806.88. Following the completion of the transaction, the senior vice president owned 42,561 shares of the company's stock, valued at approximately $3,599,809.38. The trade was a 17.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company's stock.

HF Sinclair Price Performance

Shares of NYSE:DINO opened at $125.70 on Monday. The firm has a 50 day moving average of $106.50 and a 200-day moving average of $83.92. The stock has a market capitalization of $22.35 billion, a PE ratio of 11.99 and a beta of 0.72. The company has a current ratio of 1.97, a quick ratio of 1.10 and a debt-to-equity ratio of 0.27. HF Sinclair Corporation has a 12 month low of $45.71 and a 12 month high of $129.37.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share for the quarter, topping analysts' consensus estimates of $4.49 by $0.82. The company 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 firm's quarterly revenue was up 53.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 EPS. On average, equities research analysts predict that HF Sinclair Corporation will post 18.15 EPS for the current fiscal year.

HF Sinclair Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.5250 per share. This is an increase from HF Sinclair's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.7%. HF Sinclair's payout ratio is presently 20.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DINO shares. Evercore assumed coverage on shares of HF Sinclair in a research report on Friday, July 17th. They issued an "in-line" rating and a $85.00 target price for the company. Barclays upped their price target on shares of HF Sinclair from $86.00 to $122.00 and gave the company an "equal weight" rating in a research note on Monday, October 12th. The Goldman Sachs Group raised their price target on shares of HF Sinclair from $114.00 to $142.00 and gave the stock a "buy" rating in a research report on Friday, October 9th. UBS Group raised their price target on shares of HF Sinclair from $126.00 to $133.00 and gave the stock a "buy" rating in a research report on Saturday, October 3rd. Finally, TD Cowen lifted their price objective on shares of HF Sinclair from $79.00 to $98.00 and gave the stock a "hold" rating in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $106.50.

HF Sinclair Profile

HF Sinclair Corporation NYSE: DINO is an independent energy company engaged in refining, marketing and distributing petroleum products. The company operates refineries that process crude oil into gasoline, diesel, jet fuel, asphalt, lubricants and other specialty products. Its portfolio also includes renewable fuels activities and the production and marketing of base oils and other petroleum-based products.

HF Sinclair markets fuel under the Sinclair brand and supplies products to commercial customers, independent retailers and other wholesale and retail channels.

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