1,289,961 Shares in HF Sinclair Corporation $DINO Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 1.29 million HF Sinclair shares during the second quarter, valued at approximately $89.8 million and representing 0.73% of the company. Institutional investors collectively own 88.29% of DINO.
• HF Sinclair reported strong quarterly results, with EPS of $5.31 beating estimates by $0.82 and revenue rising 53.2% year over year to $10.39 billion.
• The company increased its quarterly dividend to $0.525 per share, or $2.10 annually, while analysts maintained a “Moderate Buy” consensus and a $94.25 average price target.

Bank of America Corp DE acquired a new stake in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,289,961 shares of the company's stock, valued at approximately $89,846,000. Bank of America Corp DE owned about 0.73% of HF Sinclair as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Summit Street Capital Management LLC purchased a new stake in shares of HF Sinclair during the 2nd quarter valued at about $18,319,000. Man Group plc bought a new position in shares of HF Sinclair during the 2nd quarter valued at $6,962,000. Jupiter Topco LLC purchased a new position in shares of HF Sinclair in the 2nd quarter worth $21,046,000. J. Goldman & Co LP purchased a new position in shares of HF Sinclair in the 2nd quarter worth $1,114,000. Finally, Hsbc Holdings PLC bought a new stake in shares of HF Sinclair in the second quarter worth $2,012,000. 88.29% of the stock is currently owned by institutional investors.

HF Sinclair Stock Performance

Shares of NYSE DINO opened at $116.00 on Friday. The company has a market cap of $20.62 billion, a P/E ratio of 11.07 and a beta of 0.71. HF Sinclair Corporation has a 52-week low of $45.71 and a 52-week high of $117.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.10 and a current ratio of 1.97. The firm's fifty day moving average is $95.63 and its two-hundred day moving average is $75.81.

HF Sinclair (NYSE:DINO - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $5.31 EPS for the quarter, beating 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 was up 53.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 EPS. As a group, analysts anticipate that HF Sinclair Corporation will post 17.51 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. Investors of record on Tuesday, August 11th were given a $0.525 dividend. This is a boost from HF Sinclair's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, August 11th. HF Sinclair's dividend payout ratio (DPR) is presently 20.04%.

Insider Transactions at HF Sinclair

In other HF Sinclair news, SVP Dale Kunneman sold 8,936 shares of the stock in a transaction on Wednesday, August 5th. The shares were 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 in the company, valued at $3,599,809.38. This trade represents a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on DINO shares. TD Cowen upped their price objective on HF Sinclair from $79.00 to $98.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Freedom Capital cut shares of HF Sinclair from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Wells Fargo & Company upped their price objective on HF Sinclair from $67.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 1st. Zacks Research raised HF Sinclair from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Finally, Morgan Stanley lifted their target price on HF Sinclair from $78.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued 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 $94.25.

HF Sinclair Profile

HF Sinclair Corporation is an independent energy company engaged in refining, marketing and distributing petroleum products. The company operates refineries that process crude oil into transportation fuels, including gasoline, diesel and jet fuel, as well as asphalt, base oils and other specialty products.

Through its marketing operations, HF Sinclair supplies fuel and related products to commercial customers, wholesale distributors and retail locations under brands that include Sinclair, HollyFrontier and various regional fuel brands.

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