Bank of Nova Scotia Buys New Position in HF Sinclair Corporation $DINO

Bank of Nova Scotia bought a new stake in HF Sinclair Corporation (NYSE:DINO - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 183,315 shares of the company's stock, valued at approximately $12,768,000. Bank of Nova Scotia owned approximately 0.10% of HF Sinclair at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of DINO. Clearstead Trust LLC acquired a new stake in HF Sinclair during the second quarter worth approximately $33,000. REAP Financial Group LLC purchased a new position in HF Sinclair during the fourth quarter worth about $29,000. Fairway Wealth LLC purchased a new position in HF Sinclair during the first quarter worth about $41,000. Nalls Sherbakoff Group LLC acquired a new stake in HF Sinclair in the 4th quarter worth about $36,000. Finally, Main Street Group LTD acquired a new stake in HF Sinclair in the 1st quarter worth about $54,000. Hedge funds and other institutional investors own 88.29% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of HF Sinclair from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 4th. Zacks Research raised shares of HF Sinclair from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. UBS Group boosted their price objective on shares of HF Sinclair from $65.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Evercore started coverage on HF Sinclair in a report on Friday, July 17th. They set an "in-line" rating and a $85.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on HF Sinclair from $69.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $81.25.

Insider Transactions at HF Sinclair

In other news, Director Manuel J. Fernandez sold 635 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $73.09, for a total value of $46,412.15. Following the completion of the transaction, the director directly owned 16,543 shares in the company, valued at approximately $1,209,127.87. This represents a 3.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Dale Kunneman sold 8,936 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $755,806.88. Following the sale, the senior vice president directly 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.26% of the company's stock.

HF Sinclair Stock Down 2.3%

Shares of HF Sinclair stock opened at $95.12 on Tuesday. HF Sinclair Corporation has a twelve month low of $45.71 and a twelve month high of $98.39. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 9.08 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. The company has a fifty day moving average price of $82.04 and a 200 day moving average price of $69.08.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share 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 company had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.68 billion. During the same quarter in the prior year, the business earned $1.10 earnings per share. The company's revenue was up 53.2% compared to the same quarter last year. Equities research analysts forecast 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 given a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This is an increase from HF Sinclair's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.2%. HF Sinclair's dividend payout ratio is presently 20.04%.

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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