Canada Pension Plan Investment Board Buys Shares of 155,700 HF Sinclair Corporation $DINO

Key Points

• Canada Pension Plan Investment Board acquired 155,700 shares of HF Sinclair, worth approximately $10.8 million, giving it a 0.09% stake. Institutional investors and hedge funds collectively own 88.29% of the company.
• HF Sinclair reported quarterly EPS of $5.31, beating estimates of $4.49, while revenue rose 53.2% year over year to $10.39 billion. Shares opened at $99.90, near their 12-month high of $100.13.
• The company increased its quarterly dividend from $0.50 to $0.525 per share, representing an annualized payout of $2.10 and a 2.1% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $81.25.

Canada Pension Plan Investment Board purchased a new position in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 155,700 shares of the company's stock, valued at approximately $10,845,000. Canada Pension Plan Investment Board owned approximately 0.09% of HF Sinclair at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of HF Sinclair in the second quarter valued at approximately $1,291,602,000. Bank of New York Mellon Corp bought a new stake in 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% during the fourth quarter. NFJ Investment Group LLC now owns 1,873,541 shares of the company's stock worth $86,333,000 after purchasing an additional 1,737,318 shares in the last quarter. Invesco Ltd. lifted its position in HF Sinclair by 104.3% in the third 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 period. Finally, Victory Capital Management Inc. lifted its position in HF Sinclair by 101.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,794,964 shares of the company's stock worth $82,712,000 after purchasing an additional 903,177 shares during the period. 88.29% of the stock is owned by institutional investors and hedge funds.

HF Sinclair Stock Up 3.0%

DINO stock opened at $99.90 on Friday. The firm has a market cap of $17.76 billion, a PE ratio of 9.53 and a beta of 0.70. HF Sinclair Corporation has a 12 month low of $45.71 and a 12 month high of $100.13. 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 firm has a 50 day simple moving average of $84.56 and a 200 day simple moving average of $70.10.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its quarterly 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 firm had revenue of $10.39 billion for 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 quarter in the previous year, the business posted $1.10 earnings per share. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.10 annualized dividend and a dividend yield of 2.1%. This is a boost from HF Sinclair's previous quarterly dividend of $0.50. HF Sinclair's dividend payout ratio is 20.04%.

Insider Buying and Selling

In other news, Director Manuel J. Fernandez sold 635 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $73.09, for a total transaction of $46,412.15. Following the completion of the sale, the director directly owned 16,543 shares of the company's stock, valued at $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 SEC, which is available at the SEC website. Also, Director Rhoman J. Hardy purchased 1,508 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The stock was bought at an average price of $66.32 per share, with a total value of $100,010.56. Following the transaction, the director directly owned 15,037 shares in the company, valued at $997,253.84. This trade represents a 11.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.26% of the company's stock.

Analyst Ratings Changes

DINO has been the topic of several research analyst reports. Wall Street Zen upgraded HF Sinclair from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Mizuho upped their price objective on HF Sinclair from $79.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. TD Cowen upped their price objective on HF Sinclair from $79.00 to $98.00 and gave the company a "hold" rating in a report on Tuesday, July 21st. Evercore assumed coverage on HF Sinclair in a research note on Friday, July 17th. They set an "in-line" rating and a $85.00 target price for the company. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $114.00 target price on shares of HF Sinclair in a report on Wednesday, July 29th. Two 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 company's stock. According to data from MarketBeat, HF Sinclair presently has a consensus rating of "Moderate Buy" and an average price target of $81.25.

HF Sinclair Company 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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