Price T Rowe Associates Inc. MD Buys 1,597,152 Shares of HF Sinclair Corporation $DINO

Key Points

• Price T Rowe Associates Inc. increased its holding in HF Sinclair Corporation by 1,633.6% during the first quarter, acquiring a total of 1,694,918 shares valued at approximately $55.73 million.
• HF Sinclair's latest quarterly earnings report showed an EPS of $1.70, beating estimates, although revenue decreased by 13.5% year-over-year.
• The company recently declared a quarterly dividend of $0.50, resulting in an annualized dividend yield of 4.1%.

Price T Rowe Associates Inc. MD increased its stake in HF Sinclair Corporation (NYSE:DINO - Free Report) by 1,633.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,694,918 shares of the company's stock after buying an additional 1,597,152 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.90% of HF Sinclair worth $55,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Byrne Asset Management LLC purchased a new position in shares of HF Sinclair in the 1st quarter worth about $35,000. Allworth Financial LP boosted its holdings in shares of HF Sinclair by 553.9% in the 1st quarter. Allworth Financial LP now owns 1,334 shares of the company's stock worth $41,000 after buying an additional 1,130 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of HF Sinclair by 2,202.9% in the 1st quarter. UMB Bank n.a. now owns 1,566 shares of the company's stock worth $51,000 after buying an additional 1,498 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of HF Sinclair by 193.6% in the 4th quarter. True Wealth Design LLC now owns 1,732 shares of the company's stock worth $61,000 after buying an additional 1,142 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in HF Sinclair by 15.0% during 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. 88.29% of the stock is owned by hedge funds and other institutional investors.

HF Sinclair Price Performance

Shares of DINO traded up $0.43 during midday trading on Friday, hitting $50.97. 1,748,196 shares of the company traded hands, compared to its average volume of 2,268,491. The stock has a 50-day moving average of $44.56 and a 200-day moving average of $37.51. HF Sinclair Corporation has a one year low of $24.66 and a one year high of $51.19. The firm has a market cap of $9.53 billion, a P/E ratio of -110.79 and a beta of 0.97. 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 (NYSE:DINO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $6.78 billion for the quarter, compared to analysts' expectations of $6.93 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The company's revenue was down 13.5% on a year-over-year basis. As a group, sell-side analysts predict that HF Sinclair Corporation will post 2.39 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, August 21st. This represents a $2.00 annualized dividend and a dividend yield of 3.9%. HF Sinclair's dividend payout ratio is currently -434.78%.

Wall Street Analyst Weigh In

DINO has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of HF Sinclair from $34.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday, June 11th. Morgan Stanley upped their price objective on shares of HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Raymond James Financial raised shares of HF Sinclair from a "market perform" rating to a "strong-buy" rating and set a $54.00 price objective on the stock in a report on Tuesday, July 15th. Scotiabank upped their price objective on shares of HF Sinclair from $49.00 to $61.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Finally, Wolfe Research downgraded shares of HF Sinclair from a "peer perform" rating to an "underperform" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, HF Sinclair presently has an average rating of "Moderate Buy" and an average price target of $50.55.

Insider Buying and Selling at HF Sinclair

In other news, EVP Valerie Pompa sold 11,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $42.53, for a total transaction of $467,830.00. Following the sale, the executive vice president directly owned 39,591 shares in the company, valued at $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 is available at this link. 0.34% of the stock is currently owned by corporate insiders.

About HF Sinclair

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.