Allianz Asset Management GmbH Sells 169,785 Shares of HF Sinclair Corporation (NYSE:DINO)

Key Points

• Allianz Asset Management GmbH reduced its stake in HF Sinclair Corporation by 44.3% during Q1, now holding approximately 0.11% of the company worth $7 million.
• HF Sinclair's stock performance has been mixed, with the current share price at $44.96, while analysts have provided various ratings ranging from "sell" to "strong buy".
• The company recently announced a quarterly dividend of $0.50 per share, with a dividend yield of 4.45%, despite a negative dividend payout ratio.

Allianz Asset Management GmbH lessened its stake in HF Sinclair Corporation (NYSE:DINO - Free Report) by 44.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 213,215 shares of the company's stock after selling 169,785 shares during the period. Allianz Asset Management GmbH owned 0.11% of HF Sinclair worth $7,011,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Southeastern Asset Management Inc. TN purchased a new stake in shares of HF Sinclair in the 4th quarter valued at approximately $96,344,000. Balyasny Asset Management L.P. boosted its stake in shares of HF Sinclair by 645.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,840,955 shares of the company's stock valued at $64,525,000 after purchasing an additional 1,593,875 shares in the last quarter. Norges Bank bought a new position in shares of HF Sinclair in the fourth quarter valued at about $41,317,000. First Trust Advisors LP raised its holdings in shares of HF Sinclair by 53.7% in the fourth quarter. First Trust Advisors LP now owns 3,139,092 shares of the company's stock valued at $110,025,000 after buying an additional 1,096,485 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of HF Sinclair by 61.6% in the fourth quarter. AQR Capital Management LLC now owns 2,376,498 shares of the company's stock valued at $82,536,000 after buying an additional 906,225 shares during the last quarter. Institutional investors own 88.29% of the company's stock.

HF Sinclair Stock Performance

HF Sinclair stock traded up $0.39 during trading hours on Thursday, hitting $43.82. 990,006 shares of the stock traded hands, compared to its average volume of 2,958,792. HF Sinclair Corporation has a 1 year low of $24.66 and a 1 year high of $52.88. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.87 and a quick ratio of 0.76. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of -56.96 and a beta of 0.93. The firm's 50 day moving average price is $41.03 and its 200-day moving average price is $36.12.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.14. HF Sinclair had a negative net margin of 0.51% and a positive return on equity of 0.05%. The company had revenue of $6.37 billion during the quarter, compared to analysts' expectations of $6.72 billion. During the same period in the previous year, the company earned $0.71 EPS. The business's quarterly revenue was down 9.3% compared to the same quarter last year. As a group, equities analysts expect that HF Sinclair Corporation will post 2.39 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend was Thursday, May 15th. HF Sinclair's dividend payout ratio (DPR) is currently -259.74%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DINO. Mizuho raised HF Sinclair from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $40.00 to $47.00 in a report on Tuesday, May 13th. Piper Sandler lowered HF Sinclair from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $53.00 to $51.00 in a research report on Tuesday, July 22nd. Morgan Stanley upped their price target on HF Sinclair from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Raymond James Financial upgraded HF Sinclair from a "market perform" rating to a "strong-buy" rating and set a $54.00 price objective on the stock in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company upped their price objective on HF Sinclair from $34.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.27.

HF Sinclair Profile

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.