Assenagon Asset Management S.A. Sells 105,683 Shares of HF Sinclair Corporation $DINO

Key Points

• Assenagon Asset Management cut its HF Sinclair stake by 69.8%, selling 105,683 shares during the second quarter and retaining 45,800 shares worth approximately $3.19 million.
• HF Sinclair reported strong quarterly results, with EPS of $5.31 versus the $4.49 consensus and revenue of $10.39 billion, up 53.2% year over year. Analysts have a “Moderate Buy” consensus rating and an average price target of $81.25.
• The company raised its quarterly dividend to $0.525 per share, or $2.10 annualized, representing a 2.3% yield; shares recently traded near $92.02, close to their 12-month high of $94.22.

Assenagon Asset Management S.A. lessened its stake in HF Sinclair Corporation (NYSE:DINO - Free Report) by 69.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,800 shares of the company's stock after selling 105,683 shares during the quarter. Assenagon Asset Management S.A.'s holdings in HF Sinclair were worth $3,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. REAP Financial Group LLC purchased a new position in shares of HF Sinclair in the fourth quarter worth $29,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of HF Sinclair during the fourth quarter valued at $36,000. Fairway Wealth LLC purchased a new stake in shares of HF Sinclair during the first quarter valued at $41,000. State of Wyoming bought a new stake in HF Sinclair in the 2nd quarter worth about $41,000. Finally, IFC & Insurance Marketing Inc. bought a new stake in HF Sinclair in the 4th quarter worth about $43,000. Institutional investors own 88.29% of the company's stock.

Analyst Upgrades and Downgrades

DINO has been the topic of several research analyst reports. Scotiabank upped their target price on shares of HF Sinclair from $53.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Weiss Ratings upgraded shares of HF Sinclair from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 4th. Barclays boosted their price objective on shares of HF Sinclair from $81.00 to $86.00 and gave the company an "equal weight" rating in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of HF Sinclair from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Finally, Evercore assumed coverage on shares of HF Sinclair in a report on Friday, July 17th. They issued an "in-line" rating and a $85.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $81.25.

HF Sinclair Stock Performance

NYSE DINO opened at $92.02 on Friday. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 8.78 and a beta of 0.70. The company has a quick ratio of 1.10, a current ratio of 1.97 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $78.60 and a 200-day moving average price of $66.93. HF Sinclair Corporation has a twelve month low of $43.97 and a twelve month high of $94.22.

HF Sinclair (NYSE:DINO - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.82. HF Sinclair had a return on equity of 18.21% and a net margin of 6.13%.The firm had revenue of $10.39 billion during the quarter, compared to analysts' expectations of $8.68 billion. During the same quarter last year, the business posted $1.10 earnings per share. The firm's revenue was up 53.2% on a year-over-year basis. As a group, equities research analysts predict that HF Sinclair Corporation will post 11.85 EPS for the current fiscal year.

HF Sinclair Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 11th will be given a dividend of $0.525 per share. The ex-dividend date is Tuesday, August 11th. This is an increase from HF Sinclair's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 2.3%. HF Sinclair's dividend payout ratio (DPR) is 20.04%.

Insider Transactions at HF Sinclair

In other news, SVP Dale Kunneman sold 8,936 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $755,806.88. Following the transaction, the senior vice president owned 42,561 shares of the company's stock, valued at approximately $3,599,809.38. The trade was a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rhoman J. Hardy bought 1,508 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average price of $66.32 per share, with a total value of $100,010.56. Following the transaction, the director owned 15,037 shares of the company's stock, valued at $997,253.84. The trade was a 11.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 12,672 shares of company stock valued at $1,020,000. 0.26% of the stock is owned by corporate insiders.

HF Sinclair Profile

HF Sinclair Corporation is a diversified energy manufacturing company engaged in the refining, marketing, and transportation of petroleum products across the United States. The company operates a network of refineries and processing facilities that convert crude oil and other feedstocks into fuels and specialty products. Its integrated model encompasses upstream supply agreements, midstream logistics, and downstream marketing channels, positioning HF Sinclair as a key supplier of refined products to wholesale and retail markets.

The company’s core product slate includes gasoline, diesel, jet fuel, and renewable fuels such as renewable diesel and biodiesel.

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