Brevan Howard Capital Management LP Cuts Stock Position in HF Sinclair Corporation $DINO

Key Points

• Brevan Howard Capital Management LP cut its stake in HF Sinclair by 60.3% in Q3, selling 114,905 shares and retaining 75,725 shares worth about $3.96 million.
• Other large investors—including Invesco, Encompass Capital, Engineers Gate and Norges Bank—added or opened sizable positions, leaving institutional ownership at 88.29% of the company.
• HF Sinclair posted a quarterly earnings beat ($1.20 vs. $0.83 expected), pays a $0.50 quarterly dividend (annualized yield ~3.6%), and has a market cap of roughly $10.05 billion with a P/E of 18.16.

Brevan Howard Capital Management LP lessened its stake in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 60.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,725 shares of the company's stock after selling 114,905 shares during the period. Brevan Howard Capital Management LP's holdings in HF Sinclair were worth $3,963,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DINO. Encompass Capital Advisors LLC bought a new position in shares of HF Sinclair during the second quarter valued at $70,437,000. Invesco Ltd. raised its position in shares of HF Sinclair by 104.3% in the 3rd quarter. Invesco Ltd. now owns 1,947,075 shares of the company's stock worth $101,910,000 after purchasing an additional 994,090 shares during the last quarter. Engineers Gate Manager LP boosted its stake in HF Sinclair by 1,068.6% in the 2nd quarter. Engineers Gate Manager LP now owns 786,606 shares of the company's stock worth $32,314,000 after purchasing an additional 719,292 shares in the last quarter. Merewether Investment Management LP bought a new position in HF Sinclair in the 3rd quarter worth about $35,717,000. Finally, Norges Bank purchased a new stake in HF Sinclair during the 2nd quarter valued at about $25,531,000. Hedge funds and other institutional investors own 88.29% of the company's stock.

HF Sinclair Stock Performance

Shares of DINO stock opened at $55.76 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $52.72 and a 200-day moving average price of $51.94. HF Sinclair Corporation has a 52 week low of $24.66 and a 52 week high of $59.33. The firm has a market capitalization of $10.05 billion, a PE ratio of 18.16 and a beta of 0.83.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.37. HF Sinclair had a net margin of 2.15% and a return on equity of 10.20%. The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the firm earned ($1.02) earnings per share. The firm's revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts expect that HF Sinclair Corporation will post 2.39 earnings per share for the current year.

HF Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, March 2nd. HF Sinclair's dividend payout ratio (DPR) is 65.15%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DINO shares. Barclays reduced their price objective on shares of HF Sinclair from $54.00 to $51.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 13th. TD Cowen increased their price target on shares of HF Sinclair from $44.00 to $50.00 and gave the company a "hold" rating in a report on Thursday, February 19th. Wall Street Zen downgraded shares of HF Sinclair from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 19th. Weiss Ratings restated a "hold (c)" rating on shares of HF Sinclair in a report on Monday, December 29th. Finally, BMO Capital Markets lowered their price objective on HF Sinclair from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, HF Sinclair presently has a consensus rating of "Hold" and an average target price of $58.73.

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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