Bank of America Corp DE Cuts Stock Position in HF Sinclair Corporation $DINO

Key Points

• Bank of America reduced its HF Sinclair stake by 14.4% in the first quarter, selling 232,356 shares and retaining 1.38 million shares worth approximately $86 million. Institutional investors collectively own 88.29% of DINO.
• 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. Shares opened at $81.46, while analysts’ average rating remains “Hold” with a consensus price target of $81.25.
• The company raised its quarterly dividend from $0.50 to $0.525 per share, equivalent to an annualized $2.10 dividend and a 2.6% yield.

Bank of America Corp DE cut its holdings in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 14.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,378,546 shares of the company's stock after selling 232,356 shares during the quarter. Bank of America Corp DE owned approximately 0.76% of HF Sinclair worth $86,008,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in HF Sinclair by 14.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 939,764 shares of the company's stock valued at $30,899,000 after purchasing an additional 119,832 shares during the period. Focus Partners Wealth boosted its stake in HF Sinclair by 71.7% in the 1st quarter. Focus Partners Wealth now owns 19,400 shares of the company's stock worth $638,000 after purchasing an additional 8,102 shares during the period. Amundi boosted its stake in HF Sinclair by 7.7% in the 2nd quarter. Amundi now owns 174,199 shares of the company's stock worth $7,588,000 after purchasing an additional 12,387 shares during the period. Jump Financial LLC bought a new position in HF Sinclair in the 2nd quarter worth approximately $209,000. Finally, Cerity Partners LLC grew its holdings in HF Sinclair by 25.7% during the 2nd quarter. Cerity Partners LLC now owns 145,047 shares of the company's stock valued at $5,959,000 after buying an additional 29,635 shares in the last quarter. 88.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DINO shares. Weiss Ratings upgraded shares of HF Sinclair from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday. Barclays upped their target price on shares of HF Sinclair from $81.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. The Goldman Sachs Group reiterated a "buy" rating and issued a $114.00 price target on shares of HF Sinclair 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 note on Saturday, May 9th. Finally, Scotiabank boosted their price target on shares of HF Sinclair from $53.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $81.25.

Insider Activity at HF Sinclair

In other HF Sinclair news, Director Rhoman J. Hardy acquired 1,508 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was acquired at an average cost of $66.32 per share, with a total value of $100,010.56. Following the purchase, the director directly owned 15,037 shares of the company's stock, valued at approximately $997,253.84. This represents a 11.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Manuel J. Fernandez sold 635 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $73.09, for a total transaction of $46,412.15. Following the completion of the sale, the director owned 16,543 shares in the company, valued at approximately $1,209,127.87. This trade represents a 3.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,672 shares of company stock valued at $1,710,500 over the last quarter. 0.26% of the stock is currently owned by insiders.

HF Sinclair Stock Performance

NYSE:DINO opened at $81.46 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.97 and a quick ratio of 1.10. HF Sinclair Corporation has a 1 year low of $42.82 and a 1 year high of $94.22. The stock's 50 day simple moving average is $77.39 and its two-hundred day simple moving average is $65.73. The company has a market cap of $14.48 billion, a price-to-earnings ratio of 7.77 and a beta of 0.70.

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 analysts' consensus estimates of $4.49 by $0.82. The firm had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.68 billion. HF Sinclair had a return on equity of 18.21% and a net margin of 6.13%.The company's quarterly revenue was up 53.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. As a group, equities analysts anticipate that HF Sinclair Corporation will post 11.85 earnings per share for the current fiscal year.

HF Sinclair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 11th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This is a positive change from HF Sinclair's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 2.6%. HF Sinclair's payout ratio is currently 19.08%.

About HF Sinclair

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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