Ballentine Partners LLC Buys New Stake in HF Sinclair Corporation $DINO

Key Points

• Ballentine Partners LLC acquired a new stake in HF Sinclair Corporation (NYSE:DINO), purchasing 5,659 shares valued at approximately $232,000 in the second quarter.
• HF Sinclair reported $1.70 earnings per share for the last quarter, significantly exceeding the forecast of $1.09, although its revenue fell by 13.5% year-over-year.
• The company recently declared a quarterly dividend of $0.50, resulting in an annualized yield of 3.8%, despite having a highly negative payout ratio of -434.78%.

Ballentine Partners LLC bought a new stake in HF Sinclair Corporation (NYSE:DINO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,659 shares of the company's stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DINO. AQR Capital Management LLC grew its holdings in shares of HF Sinclair by 109.8% in the first quarter. AQR Capital Management LLC now owns 4,986,355 shares of the company's stock valued at $163,951,000 after purchasing an additional 2,609,857 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of HF Sinclair by 1,633.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,694,918 shares of the company's stock valued at $55,730,000 after purchasing an additional 1,597,152 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in HF Sinclair by 19.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,185,509 shares of the company's stock valued at $269,142,000 after buying an additional 1,337,093 shares during the period. Millennium Management LLC raised its holdings in HF Sinclair by 207.5% during the 1st quarter. Millennium Management LLC now owns 1,970,006 shares of the company's stock valued at $64,774,000 after buying an additional 1,329,408 shares during the period. Finally, Nuveen LLC purchased a new stake in HF Sinclair during the 1st quarter valued at $25,051,000. 88.29% of the stock is owned by hedge funds and other institutional investors.

HF Sinclair Stock Down 1.4%

NYSE:DINO opened at $52.52 on Tuesday. HF Sinclair Corporation has a twelve month low of $24.66 and a twelve month high of $54.73. The company has a market cap of $9.83 billion, a price-to-earnings ratio of -114.17 and a beta of 1.07. The stock has a fifty day simple moving average of $48.27 and a 200-day simple moving average of $40.13. The company has a current ratio of 1.82, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29.

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

HF Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, August 21st. HF Sinclair's payout ratio is presently -434.78%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Scotiabank increased their price target on HF Sinclair from $49.00 to $61.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. The Goldman Sachs Group increased their price target on HF Sinclair from $54.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, September 18th. UBS Group increased their price target on HF Sinclair from $51.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Wolfe Research lowered HF Sinclair from a "peer perform" rating to an "underperform" rating in a report on Monday, July 14th. Finally, Barclays increased their price target on HF Sinclair from $32.00 to $43.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $53.25.

Insider Buying and Selling at HF Sinclair

In related news, EVP Valerie Pompa sold 11,000 shares of HF Sinclair stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $42.53, for a total value of $467,830.00. Following the completion of the sale, the executive vice president directly owned 39,591 shares in the company, valued at $1,683,805.23. The trade was a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.28% of the stock is 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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