California State Teachers Retirement System Boosts Stake in HF Sinclair Corporation $DINO

Key Points

• California State Teachers Retirement System increased its HF Sinclair stake by 6,576.6% in the second quarter, owning 12.38 million shares worth approximately $862 million, or 6.96% of the company.
• Institutional investors and hedge funds collectively own 88.29% of HF Sinclair, with BlackRock, Bank of New York Mellon and Bank of America among firms establishing or expanding positions.
• HF Sinclair reported quarterly EPS of $5.31, exceeding estimates by $0.82, while revenue rose 53.2% year over year to $10.39 billion. The company also raised its quarterly dividend to $0.525 per share, representing a 1.9% annualized yield.

California State Teachers Retirement System lifted its position in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 6,576.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 12,375,830 shares of the company's stock after buying an additional 12,190,470 shares during the period. California State Teachers Retirement System owned 6.96% of HF Sinclair worth $861,977,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of HF Sinclair in the second quarter worth about $1,291,602,000. Bank of New York Mellon Corp acquired a new position in shares of HF Sinclair during the second quarter worth approximately $140,654,000. NFJ Investment Group LLC raised its holdings in HF Sinclair by 1,275.3% in the 4th quarter. NFJ Investment Group LLC now owns 1,873,541 shares of the company's stock valued at $86,333,000 after acquiring an additional 1,737,318 shares in the last quarter. Bank of America Corp DE bought a new stake in HF Sinclair in the 2nd quarter valued at $89,846,000. Finally, Invesco Ltd. grew its stake 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 valued at $101,910,000 after purchasing an additional 994,090 shares during the period. Institutional investors and hedge funds own 88.29% of the company's stock.

HF Sinclair Price Performance

Shares of DINO opened at $108.10 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.97 and a quick ratio of 1.10. The company has a market capitalization of $19.22 billion, a price-to-earnings ratio of 10.31 and a beta of 0.71. The business has a 50-day moving average of $91.96 and a 200-day moving average of $73.77. HF Sinclair Corporation has a 1 year low of $45.71 and a 1 year high of $112.17.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.68 billion. During the same period in the previous year, the firm earned $1.10 earnings per share. The company's revenue was up 53.2% compared to the same quarter last year. As a group, equities research analysts anticipate that HF Sinclair Corporation will post 11.85 earnings per share for the current year.

HF Sinclair Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays raised their price target on HF Sinclair from $81.00 to $86.00 and gave the company an "equal weight" rating in a report on Wednesday, July 29th. Mizuho increased their price target on HF Sinclair from $79.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $114.00 target price on shares of HF Sinclair in a research note on Wednesday, July 29th. UBS Group upped their target price on HF Sinclair from $105.00 to $126.00 and gave the stock a "buy" rating in a report on Tuesday, September 8th. Finally, Morgan Stanley raised their price objective on HF Sinclair from $69.00 to $78.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, HF Sinclair has an average rating of "Moderate Buy" and a consensus price target of $87.25.

Insider Buying and Selling

In other news, Director Rhoman J. Hardy bought 1,508 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was acquired at an average cost of $66.32 per share, with a total value of $100,010.56. Following the completion of the transaction, the director directly owned 15,037 shares of the company's stock, valued at $997,253.84. This represents a 11.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Dale Kunneman sold 8,936 shares of HF Sinclair stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $755,806.88. Following the completion of the transaction, the senior vice president owned 42,561 shares of the company's stock, valued at $3,599,809.38. The trade was a 17.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.26% of the stock is owned by insiders.

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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