Bank of New York Mellon Corp Invests $140.65 Million in HF Sinclair Corporation $DINO

Key Points

• Bank of New York Mellon acquired 2.02 million HF Sinclair shares worth approximately $140.65 million, giving it a 1.14% stake. Institutional investors collectively own 88.29% of DINO.
• HF Sinclair reported strong quarterly results, with EPS of $5.31 versus the $4.49 consensus estimate and revenue of $10.39 billion, up 53.2% year over year.
• The company raised its quarterly dividend to $0.525 per share, or $2.10 annualized, representing a 2.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $81.25.

Bank of New York Mellon Corp bought a new position in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,019,443 shares of the company's stock, valued at approximately $140,654,000. Bank of New York Mellon Corp owned about 1.14% of HF Sinclair as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of DINO. Kingsview Wealth Management LLC grew its stake in shares of HF Sinclair by 1,451.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 61,345 shares of the company's stock valued at $2,827,000 after buying an additional 57,391 shares during the period. Jefferies Financial Group Inc. acquired a new position in HF Sinclair during the 4th quarter worth approximately $6,194,000. Hillsdale Investment Management Inc. raised its stake in HF Sinclair by 317.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 84,000 shares of the company's stock worth $3,871,000 after buying an additional 63,900 shares during the period. State of Wyoming bought a new position in HF Sinclair in the second quarter worth approximately $859,000. Finally, Prudential PLC bought a new position in HF Sinclair in the fourth quarter worth approximately $5,505,000. Institutional investors and hedge funds own 88.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DINO shares. Barclays boosted their price objective on HF Sinclair from $81.00 to $86.00 and gave the company an "equal weight" rating in a report on Wednesday, July 29th. Raymond James Financial set a $105.00 target price on HF Sinclair in a report on Wednesday, July 29th. Evercore initiated coverage on shares of HF Sinclair in a research report on Friday, July 17th. They issued an "in-line" rating and a $85.00 price target 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, The Goldman Sachs Group restated a "buy" rating and set a $114.00 price objective on shares of HF Sinclair in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, HF Sinclair currently has an average rating of "Moderate Buy" and an average price target of $81.25.

HF Sinclair Trading Down 0.2%

Shares of HF Sinclair stock opened at $97.13 on Monday. The stock has a fifty day simple moving average of $81.48 and a 200 day simple moving average of $68.79. HF Sinclair Corporation has a 12-month low of $45.71 and a 12-month high of $97.63. The company has a market capitalization of $17.27 billion, a P/E ratio of 9.27 and a beta of 0.70. The company has a current ratio of 1.97, a quick ratio of 1.10 and a debt-to-equity ratio of 0.27.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.82. The business 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 business's revenue was up 53.2% on a year-over-year basis. During the same period last year, the business earned $1.10 EPS. On average, sell-side analysts anticipate that HF Sinclair Corporation will post 11.85 earnings per share for the current fiscal year.

HF Sinclair Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 11th will be issued a $0.525 dividend. 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 2.2%. The ex-dividend date is Tuesday, August 11th. HF Sinclair's dividend payout ratio is currently 20.04%.

Insider Activity

In related news, Director Manuel J. Fernandez sold 635 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $73.09, for a total transaction of $46,412.15. Following the transaction, the director directly owned 16,543 shares of the company's stock, valued at $1,209,127.87. This trade represents a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rhoman J. Hardy purchased 1,508 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average price of $66.32 per share, for a total transaction of $100,010.56. Following the completion of the acquisition, 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 11,955 shares of company stock worth $968,455. Company insiders own 0.26% of the company's stock.

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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