Bank of America Corp DE Sells 47,547 Shares of HF Sinclair Co. (NYSE:DINO)

Bank of America Corp DE trimmed its stake in HF Sinclair Co. (NYSE:DINO - Free Report) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 714,858 shares of the company's stock after selling 47,547 shares during the period. Bank of America Corp DE owned about 0.38% of HF Sinclair worth $25,056,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Gateway Investment Advisers LLC bought a new position in HF Sinclair during the fourth quarter worth about $222,000. Merit Financial Group LLC acquired a new stake in shares of HF Sinclair during the fourth quarter worth about $263,000. HB Wealth Management LLC raised its position in shares of HF Sinclair by 7.9% during the fourth quarter. HB Wealth Management LLC now owns 12,600 shares of the company's stock worth $442,000 after purchasing an additional 923 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of HF Sinclair by 68.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,378 shares of the company's stock worth $48,000 after purchasing an additional 558 shares during the period. Finally, Sugar Maple Asset Management LLC acquired a new stake in HF Sinclair in the 4th quarter valued at approximately $27,000. 88.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on DINO. Morgan Stanley lowered their price target on HF Sinclair from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Piper Sandler lowered their price target on HF Sinclair from $46.00 to $40.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Scotiabank lowered their price target on HF Sinclair from $51.00 to $49.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. TD Cowen boosted their price target on HF Sinclair from $27.00 to $29.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Finally, Wells Fargo & Company lowered their price target on HF Sinclair from $44.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, HF Sinclair presently has an average rating of "Moderate Buy" and an average target price of $43.30.

HF Sinclair Stock Performance

DINO traded up $0.13 during trading on Friday, hitting $35.58. The stock had a trading volume of 1,617,786 shares, compared to its average volume of 2,485,955. The company has a 50 day moving average price of $31.78 and a 200-day moving average price of $35.12. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 43.39 and a beta of 0.81. HF Sinclair Co. has a one year low of $24.66 and a one year high of $56.96. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.81 and a quick ratio of 0.90.

HF Sinclair (NYSE:DINO - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.27) earnings per share for the quarter, beating analysts' consensus estimates of ($0.41) by $0.14. HF Sinclair had a return on equity of 1.98% and a net margin of 0.62%. The firm had revenue of $6.37 billion during the quarter, compared to the consensus estimate of $6.72 billion. During the same period in the prior year, the company posted $0.71 EPS. The company's revenue was down 9.3% compared to the same quarter last year. As a group, research analysts predict that HF Sinclair Co. will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 5.62%. HF Sinclair's payout ratio is presently -259.74%.

Insiders Place Their Bets

In related news, Director Franklin Myers purchased 5,000 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $35.66 per share, with a total value of $178,300.00. Following the completion of the purchase, the director now owns 154,065 shares in the company, valued at approximately $5,493,957.90. This represents a 3.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.34% of the company's stock.

HF Sinclair Company 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.