California State Teachers Retirement System Decreases Holdings in HF Sinclair Corporation $DINO

Key Points

• California State Teachers Retirement System reduced its HF Sinclair stake by 4.1% in the second quarter, selling 7,674 shares and retaining 177,686 shares valued at approximately $12.4 million. Institutional investors collectively own 88.29% of the company.
• HF Sinclair reported stronger-than-expected 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 also raised its quarterly dividend to $0.525 per share.
• Shares rose 5.1% to $112.41, near the 52-week high, while analysts maintained a consensus “Moderate Buy” rating and a $94.25 target price. UBS raised its target to $126, and Goldman Sachs reiterated its $114 target.

California State Teachers Retirement System lessened its stake in HF Sinclair Corporation (NYSE:DINO - Free Report) by 4.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 177,686 shares of the company's stock after selling 7,674 shares during the quarter. California State Teachers Retirement System owned 0.10% of HF Sinclair worth $12,375,830 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. HB Wealth Management LLC lifted its holdings in HF Sinclair by 2.3% during the 2nd quarter. HB Wealth Management LLC now owns 18,918 shares of the company's stock worth $1,318,000 after buying an additional 434 shares during the last quarter. Compass Financial Management LLC acquired a new stake in HF Sinclair during the 2nd quarter worth $325,000. AlphaGrep UK Ltd acquired a new stake in shares of HF Sinclair in the second quarter valued at approximately $209,000. denkapparat Operations GmbH increased its holdings in HF Sinclair by 26.4% in the 2nd quarter. denkapparat Operations GmbH now owns 15,868 shares of the company's stock worth $1,105,000 after purchasing an additional 3,310 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its stake in HF Sinclair by 5.4% in the second quarter. Concurrent Investment Advisors LLC now owns 5,794 shares of the company's stock valued at $404,000 after purchasing an additional 295 shares in the last quarter. 88.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at HF Sinclair

In other news, SVP Dale Kunneman sold 8,936 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $755,806.88. Following the transaction, the senior vice president 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DINO. Mizuho lifted their target price on shares of HF Sinclair from $79.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 4th. Zacks Research upgraded HF Sinclair from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. UBS Group boosted their target price on HF Sinclair from $105.00 to $126.00 and gave the company a "buy" rating in a research report on Tuesday, September 8th. Weiss Ratings raised shares of HF Sinclair from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $114.00 price target on shares of HF Sinclair in a research report on Wednesday, July 29th. Two equities 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $94.25.

HF Sinclair Trading Up 5.1%

NYSE:DINO traded up $5.50 during trading hours on Tuesday, hitting $112.41. 1,558,043 shares of the company were exchanged, compared to its average volume of 2,674,795. 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 simple moving average of $92.61 and a 200 day simple moving average of $74.17. HF Sinclair Corporation has a one year low of $45.71 and a one year high of $112.71. The stock has a market capitalization of $19.99 billion, a price-to-earnings ratio of 10.71 and a beta of 0.71.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.82. The company had revenue of $10.39 billion during the quarter, compared to analyst estimates of $8.68 billion. HF Sinclair had a net margin of 6.13% and a return on equity of 18.21%. The firm's quarterly revenue was up 53.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 earnings per share. Sell-side analysts expect that HF Sinclair Corporation will post 11.85 EPS for the current fiscal year.

HF Sinclair Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Tuesday, August 11th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 11th. This is an increase from HF Sinclair's previous quarterly dividend of $0.50. HF Sinclair's dividend payout ratio is 20.04%.

HF Sinclair Profile

HF Sinclair Corporation is an independent energy company engaged in refining, marketing and distributing petroleum products. The company operates refineries that process crude oil into transportation fuels, including gasoline, diesel and jet fuel, as well as asphalt, base oils and other specialty products.

Through its marketing operations, HF Sinclair supplies fuel and related products to commercial customers, wholesale distributors and retail locations under brands that include Sinclair, HollyFrontier and various regional fuel brands.

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