Charles Schwab Investment Management Inc. Acquires 415,206 Shares of HF Sinclair Corporation (NYSE:DINO)

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in HF Sinclair Corporation by 7.5%, holding approximately 5.93 million shares valued at $194.89 million.
• HF Sinclair recently announced a quarterly dividend of $0.50 per share, with a dividend yield of 4.6% based on an annualized payout of $2.00.
• The company reported earnings of $1.70 per share for the last quarter, surpassing analysts' estimates, despite a 13.5% decrease in revenue year-over-year.

Charles Schwab Investment Management Inc. boosted its stake in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 7.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,927,257 shares of the company's stock after buying an additional 415,206 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 3.15% of HF Sinclair worth $194,888,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DINO. Wellington Management Group LLP boosted its holdings in HF Sinclair by 457.7% in the fourth quarter. Wellington Management Group LLP now owns 50,482 shares of the company's stock valued at $1,769,000 after acquiring an additional 41,430 shares during the last quarter. Wells Fargo & Company MN lifted its stake in HF Sinclair by 2.6% in the fourth quarter. Wells Fargo & Company MN now owns 246,732 shares of the company's stock valued at $8,648,000 after buying an additional 6,162 shares during the period. Envestnet Asset Management Inc. lifted its stake in HF Sinclair by 24.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 119,704 shares of the company's stock valued at $4,196,000 after buying an additional 23,856 shares during the period. Cerity Partners LLC lifted its stake in HF Sinclair by 105.4% in the fourth quarter. Cerity Partners LLC now owns 64,809 shares of the company's stock valued at $2,351,000 after buying an additional 33,258 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in HF Sinclair by 80.9% in the fourth quarter. Renaissance Technologies LLC now owns 144,905 shares of the company's stock valued at $5,079,000 after buying an additional 64,800 shares during the period. Institutional investors own 88.29% of the company's stock.

Insider Transactions at HF Sinclair

In related news, EVP Valerie Pompa sold 11,000 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $42.53, for a total transaction of $467,830.00. Following the completion of the sale, the executive vice president owned 39,591 shares in the company, valued at approximately $1,683,805.23. This represents a 21.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on DINO. Wall Street Zen raised HF Sinclair from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Scotiabank boosted their price target on HF Sinclair from $49.00 to $61.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. TD Cowen boosted their price target on HF Sinclair from $45.00 to $46.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Morgan Stanley boosted their price target on HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, UBS Group reissued a "buy" rating and issued a $51.00 price target (up from $48.00) on shares of HF Sinclair in a research note on Monday, August 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $49.91.

HF Sinclair Stock Up 1.6%

Shares of NYSE:DINO traded up $0.70 during trading on Wednesday, reaching $45.03. 2,103,237 shares of the stock were exchanged, compared to its average volume of 2,508,309. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.82 and a quick ratio of 0.83. HF Sinclair Corporation has a 1-year low of $24.66 and a 1-year high of $49.92. The stock has a fifty day moving average of $42.56 and a two-hundred day moving average of $36.61. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of -97.88 and a beta of 0.97.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.61. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. HF Sinclair's revenue for the quarter was down 13.5% on a year-over-year basis. Research analysts anticipate that HF Sinclair Corporation will post 2.39 earnings per share for the current fiscal year.

HF Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, August 21st. This represents a $2.00 annualized dividend and a yield of 4.4%. HF Sinclair's dividend payout ratio is -434.78%.

HF Sinclair Company Profile

HF Sinclair Corporation operates as an independent energy company. The company produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, specialty and modified asphalt, and others. It owns and operates refineries located in Kansas, Oklahoma, New Mexico, Utah, Washington, and Wyoming; and markets its refined products principally in the Southwest United States and Rocky Mountains, Pacific Northwest, and in other neighboring Plains states.