Advisors Asset Management Inc. Increases Stock Holdings in HF Sinclair Corporation $DINO

Key Points

• Advisors Asset Management Inc. increased its stake in HF Sinclair Corporation by 175.2% during the first quarter, owning approximately 102,491 shares worth $3.37 million.
• Wall Street analysts are optimistic about HF Sinclair, with a consensus rating of "Moderate Buy" and a target price averaging around $50.55, as several firms have raised their price targets recently.
• The company reported earnings of $1.70 per share for the last quarter, exceeding analysts' expectations, although its revenue was down 13.5% year-over-year, totaling $6.78 billion.

Advisors Asset Management Inc. boosted its position in HF Sinclair Corporation (NYSE:DINO - Free Report) by 175.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,491 shares of the company's stock after purchasing an additional 65,250 shares during the period. Advisors Asset Management Inc. owned about 0.05% of HF Sinclair worth $3,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. American Trust Investment Advisors LLC purchased a new position in HF Sinclair in the first quarter worth about $830,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of HF Sinclair in the 1st quarter worth $684,000. Energy Income Partners LLC raised its holdings in HF Sinclair by 85.9% in the 1st quarter. Energy Income Partners LLC now owns 54,890 shares of the company's stock worth $1,805,000 after purchasing an additional 25,364 shares during the period. Twin Tree Management LP bought a new position in HF Sinclair in the 1st quarter worth $106,000. Finally, Ieq Capital LLC raised its holdings in HF Sinclair by 59.5% in the 1st quarter. Ieq Capital LLC now owns 170,353 shares of the company's stock worth $5,601,000 after purchasing an additional 63,580 shares during the period. 88.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays raised their target price on HF Sinclair from $32.00 to $43.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. TD Cowen raised their target price on HF Sinclair from $45.00 to $46.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Morgan Stanley raised their target price on HF Sinclair from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Raymond James Financial raised HF Sinclair from a "market perform" rating to a "strong-buy" rating and set a $54.00 target price on the stock in a report on Tuesday, July 15th. Finally, Wolfe Research cut HF Sinclair from a "peer perform" rating to an "underperform" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.55.

HF Sinclair Trading Down 0.9%

Shares of DINO stock opened at $51.09 on Friday. HF Sinclair Corporation has a 52-week low of $24.66 and a 52-week high of $52.86. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.82. The firm has a market capitalization of $9.56 billion, a PE ratio of -111.07 and a beta of 1.07. The stock has a fifty day simple moving average of $45.59 and a two-hundred day simple moving average of $37.98.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.61. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%.The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the business posted $0.78 EPS. HF Sinclair's revenue for the quarter was down 13.5% compared to the same quarter last year. On average, analysts predict that HF Sinclair Corporation will post 2.39 EPS for the current fiscal year.

HF Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Thursday, August 21st. HF Sinclair's dividend payout ratio is presently -434.78%.

Insider Buying and Selling at HF Sinclair

In other news, EVP Valerie Pompa sold 11,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $42.53, for a total transaction of $467,830.00. Following the completion of the transaction, the executive vice president owned 39,591 shares in the company, valued at $1,683,805.23. This trade represents a 21.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

About HF Sinclair

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.

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