Connor Clark & Lunn Investment Management Ltd. Has $10.45 Million Position in HF Sinclair Corporation (NYSE:DINO)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in HF Sinclair Corporation by 271.2%, owning approximately $10.45 million worth of shares as of its latest filing.
• HF Sinclair reported $1.70 earnings per share for the last quarter, exceeding analysts' expectations, although its quarterly revenue decreased by 13.5% compared to the previous year.
• The company announced a quarterly dividend of $0.50, resulting in an annualized dividend yield of 4.6%, although its payout ratio was -434.78%.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in HF Sinclair Corporation (NYSE:DINO - Free Report) by 271.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 317,782 shares of the company's stock after purchasing an additional 232,163 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of HF Sinclair worth $10,449,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Harbour Investments Inc. grew its position in shares of HF Sinclair by 15.0% in the first quarter. Harbour Investments Inc. now owns 2,380 shares of the company's stock valued at $78,000 after purchasing an additional 310 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of HF Sinclair by 1.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,023 shares of the company's stock valued at $685,000 after purchasing an additional 379 shares during the last quarter. Bank & Trust Co grew its position in shares of HF Sinclair by 8.7% in the first quarter. Bank & Trust Co now owns 4,838 shares of the company's stock valued at $159,000 after purchasing an additional 389 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of HF Sinclair by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 44,800 shares of the company's stock valued at $1,473,000 after purchasing an additional 400 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of HF Sinclair by 5.8% in the fourth quarter. ProShare Advisors LLC now owns 7,482 shares of the company's stock valued at $262,000 after purchasing an additional 412 shares during the last quarter. 88.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Valerie Pompa sold 11,000 shares of HF Sinclair stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $42.53, for a total value of $467,830.00. Following the completion of the transaction, the executive vice president owned 39,591 shares in the company, valued at approximately $1,683,805.23. The trade was a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.34% of the company's stock.

HF Sinclair Stock Down 0.2%

Shares of DINO opened at $43.45 on Monday. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of -94.46 and a beta of 0.97. The company has a quick ratio of 0.83, a current ratio of 1.82 and a debt-to-equity ratio of 0.29. HF Sinclair Corporation has a 12 month low of $24.66 and a 12 month high of $49.92. The company has a 50-day moving average price of $42.07 and a two-hundred day moving average price of $36.45.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.61. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.89%. The company had revenue of $6.78 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. HF Sinclair's quarterly revenue was down 13.5% compared to the same quarter last year. Equities analysts predict that HF Sinclair Corporation will post 2.39 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.50 dividend. The ex-dividend date is Thursday, August 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.6%. HF Sinclair's payout ratio is -434.78%.

Analyst Upgrades and Downgrades

DINO has been the subject of several research reports. UBS Group reiterated a "buy" rating and issued a $51.00 target price (up previously from $48.00) on shares of HF Sinclair in a research note on Monday, August 4th. Mizuho increased their target price on shares of HF Sinclair from $50.00 to $52.00 and gave the company an "outperform" rating in a research note on Friday. Wall Street Zen upgraded shares of HF Sinclair from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Piper Sandler cut shares of HF Sinclair from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $53.00 to $51.00 in a research note on Tuesday, July 22nd. Finally, Morgan Stanley increased their target price on shares of HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, HF Sinclair currently has an average rating of "Moderate Buy" and an average target price of $49.91.

HF Sinclair 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.

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