Artemis Investment Management LLP Boosts Position in HF Sinclair Corporation $DINO

Key Points

• Artemis Investment Management increased its HF Sinclair stake by 33.6% in the third quarter, acquiring 110,661 additional shares for a total holding of 439,739 shares valued at approximately $47.2 million. Institutional investors collectively own 88.29% of the company.
• HF Sinclair reported stronger-than-expected quarterly results, with earnings of $5.31 per share versus the $4.49 consensus estimate and revenue of $10.39 billion, up 53.2% year over year.
• Analysts give HF Sinclair a consensus “Moderate Buy” rating with an average price target of $97.67, while the company raised its quarterly dividend to $0.525 per share, or $2.10 annually.

Artemis Investment Management LLP grew its stake in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 33.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,739 shares of the company's stock after acquiring an additional 110,661 shares during the period. Artemis Investment Management LLP owned about 0.25% of HF Sinclair worth $47,193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Clearstead Trust LLC bought a new position in shares of HF Sinclair during the second quarter worth about $33,000. Fairway Wealth LLC bought a new position in HF Sinclair during the 1st quarter worth approximately $41,000. Nalls Sherbakoff Group LLC bought a new position in HF Sinclair during the 4th quarter worth approximately $36,000. Main Street Group LTD acquired a new position in shares of HF Sinclair in the 1st quarter worth approximately $54,000. Finally, Core Capital Management & Research inc. acquired a new position in shares of HF Sinclair in the 2nd quarter worth approximately $67,000. Institutional investors own 88.29% of the company's stock.

Insider Buying and Selling at HF Sinclair

In related news, SVP Dale Kunneman sold 8,936 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $755,806.88. Following the completion of the sale, the senior vice president owned 42,561 shares of the company's stock, valued at $3,599,809.38. This represents a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DINO shares. Barclays raised their price objective on HF Sinclair from $81.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 29th. Raymond James Financial raised their price target on shares of HF Sinclair from $105.00 to $140.00 and gave the stock a "strong-buy" rating in a research report on Monday, September 14th. Evercore initiated coverage on shares of HF Sinclair in a research report on Friday, July 17th. They set an "in-line" rating and a $85.00 price objective for the company. Freedom Capital lowered shares of HF Sinclair from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings upgraded HF Sinclair from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, HF Sinclair has an average rating of "Moderate Buy" and an average target price of $97.67.

HF Sinclair Stock Performance

Shares of NYSE:DINO traded up $4.17 during trading hours on Thursday, hitting $119.80. The stock had a trading volume of 966,772 shares, compared to its average volume of 2,686,054. 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 stock's fifty day simple moving average is $101.24 and its 200 day simple moving average is $80.83. The firm has a market capitalization of $21.30 billion, a price-to-earnings ratio of 11.44 and a beta of 0.72. HF Sinclair Corporation has a 1-year low of $45.71 and a 1-year high of $120.54.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $5.31 EPS for the quarter, beating the consensus estimate of $4.49 by $0.82. The firm had revenue of $10.39 billion for the quarter, compared to analysts' expectations of $8.68 billion. HF Sinclair had a return on equity of 18.21% and a net margin of 6.13%.The firm's revenue was up 53.2% compared to the same quarter last year. During the same period last year, the firm earned $1.10 EPS. Sell-side analysts anticipate that HF Sinclair Corporation will post 18.15 earnings per share for the current fiscal year.

HF Sinclair Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Tuesday, August 11th were paid a dividend of $0.5250 per share. This is an increase from HF Sinclair's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Tuesday, August 11th. HF Sinclair's dividend payout ratio (DPR) is presently 20.04%.

HF Sinclair Company Profile

HF Sinclair Corporation is an independent energy company engaged in refining, marketing, and distributing petroleum products. The company produces gasoline, diesel fuel, jet fuel, asphalt, lubricants, and specialty products for commercial, industrial, and consumer markets. Its operations also include renewable energy activities, including the production and marketing of renewable diesel.

HF Sinclair markets fuel and related products through branded and unbranded channels under names that include Sinclair, HollyFrontier, and Petro-Canada Lubricants.

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