43,105 HF Sinclair Corporation $DINO Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its HF Sinclair stake by 41.3%, selling 43,105 shares in the third quarter and ending the period with 61,277 shares worth about $6.6 million. Institutional investors collectively own 88.29% of the company.
• HF Sinclair reported quarterly earnings of $11.75 per share, beating the $7.83 consensus estimate, while revenue rose 49.7% year over year to $10.86 billion. Analysts’ consensus rating was “Moderate Buy,” with a $116 target price.
• The company declared a quarterly dividend of $0.525 per share, equivalent to $2.10 annually and a 2.1% yield.

Ethic Inc. cut its position in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 41.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,277 shares of the company's stock after selling 43,105 shares during the period. Ethic Inc.'s holdings in HF Sinclair were worth $6,576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Counterpoint Mutual Funds LLC bought a new stake in HF Sinclair in the 3rd quarter valued at $9,191,000. BlackRock Inc. bought a new position in HF Sinclair in the 2nd quarter valued at about $1,291,602,000. Amundi lifted its position in HF Sinclair by 12.7% during the second quarter. Amundi now owns 309,993 shares of the company's stock worth $21,591,000 after acquiring an additional 35,049 shares during the last quarter. Energy Income Partners LLC acquired a new stake in HF Sinclair during the second quarter worth approximately $5,210,000. Finally, State of Wyoming acquired a new stake in HF Sinclair during the second quarter worth approximately $859,000. 88.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DINO has been the topic of a number of recent research reports. Morgan Stanley increased their target price on HF Sinclair from $127.00 to $130.00 and gave the stock an "overweight" rating in a research note on Monday, November 2nd. Raymond James Financial set a $150.00 target price on HF Sinclair in a research note on Wednesday, October 28th. Wells Fargo & Company raised their price objective on HF Sinclair from $93.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, October 14th. Barclays boosted their target price on shares of HF Sinclair from $86.00 to $122.00 and gave the stock an "equal weight" rating in a report on Monday, October 12th. Finally, Piper Sandler started coverage on HF Sinclair in a research note on Tuesday, October 27th. They issued an "overweight" rating and a $152.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $116.00.

HF Sinclair Price Performance

Shares of DINO opened at $99.82 on Tuesday. HF Sinclair Corporation has a 12-month low of $45.71 and a 12-month high of $129.37. The business's fifty day moving average is $112.80 and its 200 day moving average is $79.84. The company has a quick ratio of 1.40, a current ratio of 2.27 and a debt-to-equity ratio of 0.24. The stock has a market cap of $17.11 billion, a P/E ratio of 5.52 and a beta of 0.73.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $11.75 EPS for the quarter, topping the consensus estimate of $7.83 by $3.92. HF Sinclair had a net margin of 10.12% and a return on equity of 32.95%. The company had revenue of $10.86 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The firm's revenue for the quarter was up 49.7% on a year-over-year basis. Sell-side analysts anticipate that HF Sinclair Corporation will post 22.32 earnings per share for the current fiscal year.

HF Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.5250 per share. The ex-dividend date is Thursday, November 12th. This represents a $2.10 dividend on an annualized basis and a yield of 2.1%. HF Sinclair's payout ratio is 10.65%.

HF Sinclair Profile

HF Sinclair Corporation is an energy company that refines crude oil and sells fuels and other petroleum products. Its offerings include gasoline, diesel, jet fuel, asphalt, and specialty products such as lubricants and chemicals.

The company also operates midstream businesses, including pipelines, terminals, and other infrastructure that support the transportation and storage of crude oil and refined products. Its operations include renewable fuels, and its products are marketed under brands that include Sinclair.

HF Sinclair was formed in 2022 through the combination of HollyFrontier Corporation and Sinclair Oil Corporation.

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