Gotham Asset Management LLC Raises Stock Position in HF Sinclair Corporation $DINO

Key Points

• Gotham Asset Management raised its stake in HF Sinclair by 68.5% in Q3, adding 276,306 shares to hold 679,788 shares (about 0.37% of the company) worth roughly $35.6 million.
• HF Sinclair reported quarterly EPS of $1.20 versus analysts' $0.83 estimate and revenue of $6.46 billion, reversing a year-ago loss and with analysts projecting about $2.39 EPS for the fiscal year.
• The company pays a quarterly dividend of $0.50 (annualized $2.00) for a 3.6% yield, and institutional ownership is very high at 88.29% as several large funds (Invesco, Encompass, Engineers Gate, Norges Bank) added or initiated positions.

Gotham Asset Management LLC raised its holdings in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 68.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 679,788 shares of the company's stock after acquiring an additional 276,306 shares during the quarter. Gotham Asset Management LLC owned approximately 0.37% of HF Sinclair worth $35,580,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DINO. Encompass Capital Advisors LLC purchased a new stake in shares of HF Sinclair during the second quarter worth about $70,437,000. Invesco Ltd. raised its stake in HF Sinclair by 104.3% during 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. Engineers Gate Manager LP lifted its holdings in HF Sinclair by 1,068.6% in the 2nd quarter. Engineers Gate Manager LP now owns 786,606 shares of the company's stock worth $32,314,000 after purchasing an additional 719,292 shares in the last quarter. Merewether Investment Management LP bought a new position in HF Sinclair in the 3rd quarter worth approximately $35,717,000. Finally, Norges Bank bought a new position in HF Sinclair in the 2nd quarter worth approximately $25,531,000. 88.29% of the stock is currently owned by hedge funds and other institutional investors.

HF Sinclair Stock Down 2.7%

Shares of DINO opened at $55.76 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.90. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 18.16 and a beta of 0.83. HF Sinclair Corporation has a 1 year low of $24.66 and a 1 year high of $59.33. The business's 50 day simple moving average is $52.72 and its 200-day simple moving average is $51.94.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.37. HF Sinclair had a net margin of 2.15% and a return on equity of 10.20%. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the firm posted ($1.02) earnings per share. HF Sinclair's revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts expect that HF Sinclair Corporation will post 2.39 earnings per share for the current fiscal year.

HF Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, March 2nd. HF Sinclair's dividend payout ratio (DPR) is presently 65.15%.

Wall Street Analyst Weigh In

DINO has been the topic of several recent analyst reports. Argus upgraded shares of HF Sinclair to a "hold" rating in a research report on Tuesday, February 24th. Morgan Stanley set a $57.00 target price on shares of HF Sinclair in a research report on Thursday, February 19th. BMO Capital Markets cut their target price on shares of HF Sinclair from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday, February 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of HF Sinclair in a report on Monday, December 29th. Finally, TD Cowen boosted their price target on shares of HF Sinclair from $44.00 to $50.00 and gave the stock a "hold" rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, HF Sinclair currently has a consensus rating of "Hold" and a consensus target price of $58.73.

About HF Sinclair

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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