Alliancebernstein L.P. Decreases Stake in HF Sinclair Corporation $DINO

Key Points

• Alliancebernstein L.P. reduced its stake in HF Sinclair Corporation by 10.7%, selling 126,678 shares and now owns 1,062,343 shares worth approximately $34.93 million.
• HF Sinclair reported earnings of $1.70 per share, surpassing analyst expectations, although revenue declined by 13.5% year-over-year, totaling $6.78 billion.
• The company recently declared a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 3.9% despite a negative payout ratio.

Alliancebernstein L.P. trimmed its holdings in HF Sinclair Corporation (NYSE:DINO - Free Report) by 10.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,062,343 shares of the company's stock after selling 126,678 shares during the period. Alliancebernstein L.P. owned about 0.56% of HF Sinclair worth $34,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWA Asset Management Group LLC purchased a new stake in HF Sinclair during the first quarter worth about $421,000. Pacific Heights Asset Management LLC lifted its position in HF Sinclair by 9.1% during the first quarter. Pacific Heights Asset Management LLC now owns 240,000 shares of the company's stock valued at $7,891,000 after purchasing an additional 20,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in HF Sinclair by 72.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 51,230 shares of the company's stock valued at $1,684,000 after purchasing an additional 21,597 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of HF Sinclair by 2.2% during the first quarter. Principal Financial Group Inc. now owns 1,289,510 shares of the company's stock worth $42,399,000 after acquiring an additional 27,764 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of HF Sinclair by 7.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 131,700 shares of the company's stock worth $4,354,000 after acquiring an additional 9,070 shares in the last quarter. Hedge funds and other institutional investors own 88.29% of the company's stock.

Insider Buying and Selling

In other HF Sinclair news, EVP Valerie Pompa sold 11,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $42.53, for a total value of $467,830.00. Following the sale, the executive vice president owned 39,591 shares in the company, valued at approximately $1,683,805.23. This represents a 21.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company's stock.

Analyst Ratings Changes

DINO has been the topic of several research analyst reports. Mizuho boosted their price target on shares of HF Sinclair from $50.00 to $52.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Barclays boosted their target price on shares of HF Sinclair from $32.00 to $43.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Scotiabank lifted their price target on shares of HF Sinclair from $49.00 to $61.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Wells Fargo & Company lifted their price target on shares of HF Sinclair from $34.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday, June 11th. Finally, Morgan Stanley lifted their price objective on shares of HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.82.

HF Sinclair Stock Down 1.2%

NYSE:DINO traded down $0.62 during mid-day trading on Friday, reaching $51.10. The company's stock had a trading volume of 1,246,751 shares, compared to its average volume of 2,868,986. The firm has a market capitalization of $9.56 billion, a PE ratio of -110.99 and a beta of 1.07. The company has a quick ratio of 0.83, a current ratio of 1.82 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average of $46.29 and a 200-day moving average of $38.38. HF Sinclair Corporation has a 1 year low of $24.66 and a 1 year high of $53.14.

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

HF Sinclair Dividend Announcement

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

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.