Engineers Gate Manager LP Sells 302,975 Shares of HF Sinclair Corporation $DINO

Key Points

• Engineers Gate Manager LP reduced its HF Sinclair stake by 68.8%, selling 302,975 shares and retaining 137,419 shares worth about $9.6 million. Institutional investors collectively own 88.29% of the company.
• HF Sinclair exceeded quarterly expectations, reporting $5.31 in earnings per share versus a $4.49 consensus estimate and $10.39 billion in revenue, up 53.2% year over year.
• The company raised its quarterly dividend to $0.525 per share, or $2.10 annually, representing a 1.9% yield. Analysts maintain a “Moderate Buy” consensus, though price targets and ratings remain mixed.

Engineers Gate Manager LP cut its holdings in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 68.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,419 shares of the company's stock after selling 302,975 shares during the period. Engineers Gate Manager LP owned about 0.08% of HF Sinclair worth $9,571,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DINO. Clearstead Trust LLC acquired a new position in HF Sinclair in the 2nd quarter valued at approximately $33,000. REAP Financial Group LLC acquired a new position in shares of HF Sinclair during the fourth quarter worth $29,000. Fairway Wealth LLC acquired a new position in shares of HF Sinclair during the first quarter worth $41,000. Nalls Sherbakoff Group LLC bought a new stake in shares of HF Sinclair in the fourth quarter worth $36,000. Finally, Main Street Group LTD bought a new stake in shares of HF Sinclair in the first quarter worth $54,000. 88.29% of the stock is owned by institutional investors.

HF Sinclair Stock Performance

Shares of DINO opened at $107.83 on Friday. 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 firm's fifty day simple moving average is $91.25 and its two-hundred day simple moving average is $73.36. HF Sinclair Corporation has a 12 month low of $45.71 and a 12 month high of $110.92. The stock has a market capitalization of $19.17 billion, a P/E ratio of 10.29 and a beta of 0.71.

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

HF Sinclair Increases Dividend

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

Insider Buying and Selling

In other HF Sinclair news, SVP Dale Kunneman sold 8,936 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $755,806.88. Following the transaction, the senior vice president directly owned 42,561 shares in the company, valued at approximately $3,599,809.38. This represents a 17.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rhoman J. Hardy acquired 1,508 shares of HF Sinclair stock in a transaction dated Tuesday, June 16th. The shares were bought at an average cost of $66.32 per share, with a total value of $100,010.56. Following the transaction, the director owned 15,037 shares in the company, valued at approximately $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.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Evercore began coverage on HF Sinclair in a research report on Friday, July 17th. They set an "in-line" rating and a $85.00 target price for the company. Mizuho upped their price target on HF Sinclair from $79.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. The Goldman Sachs Group reiterated a "buy" rating and issued a $114.00 price target on shares of HF Sinclair in a research report on Wednesday, July 29th. Weiss Ratings upgraded HF Sinclair from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Finally, Freedom Capital cut HF Sinclair from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $87.25.

HF Sinclair Company 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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