HF Sinclair Corporation $DINO Shares Purchased by Comerica Bank

Key Points

• Comerica Bank increased its stake in HF Sinclair Corporation by 27.1% during the first quarter, owning a total of 74,268 shares valued at approximately $2.44 million.
• HF Sinclair's recent quarterly earnings exceeded analysts' expectations with $1.70 EPS, while revenue dropped 13.5% year-over-year.
• The company announced a $0.50 quarterly dividend, representing an annualized yield of 3.9%, with an ex-dividend date on August 21st.

Comerica Bank boosted its stake in HF Sinclair Corporation (NYSE:DINO - Free Report) by 27.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,268 shares of the company's stock after acquiring an additional 15,848 shares during the quarter. Comerica Bank's holdings in HF Sinclair were worth $2,442,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Byrne Asset Management LLC acquired a new stake in HF Sinclair during the 1st quarter valued at $35,000. Allworth Financial LP lifted its stake in shares of HF Sinclair by 553.9% in the first quarter. Allworth Financial LP now owns 1,334 shares of the company's stock worth $41,000 after acquiring an additional 1,130 shares in the last quarter. UMB Bank n.a. grew its stake in HF Sinclair by 2,202.9% during the 1st quarter. UMB Bank n.a. now owns 1,566 shares of the company's stock valued at $51,000 after purchasing an additional 1,498 shares in the last quarter. Harbour Investments Inc. increased its holdings in HF Sinclair by 15.0% during the 1st quarter. Harbour Investments Inc. now owns 2,380 shares of the company's stock worth $78,000 after purchasing an additional 310 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of HF Sinclair by 1,265.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,554 shares of the company's stock valued at $84,000 after purchasing an additional 2,367 shares in the last quarter. Hedge funds and other institutional investors own 88.29% of the company's stock.

Insider Activity at HF Sinclair

In other news, EVP Valerie Pompa sold 11,000 shares of HF Sinclair stock in a transaction that occurred 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 sale, the executive vice president owned 39,591 shares of the company's stock, 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 filing with the SEC, which is accessible through the SEC website. Insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DINO. Morgan Stanley upped their price target 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. Wolfe Research downgraded HF Sinclair from a "peer perform" rating to an "underperform" rating in a report on Monday, July 14th. Raymond James Financial upgraded HF Sinclair from a "market perform" rating to a "strong-buy" rating and set a $54.00 target price for the company in a research report on Tuesday, July 15th. Piper Sandler lowered HF Sinclair from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $53.00 to $51.00 in a research report on Tuesday, July 22nd. Finally, Mizuho raised their price objective on HF Sinclair from $50.00 to $52.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.55.

HF Sinclair Stock Up 0.8%

NYSE:DINO opened at $50.97 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average of $44.76 and a 200-day moving average of $37.61. The firm has a market capitalization of $9.53 billion, a PE ratio of -110.79 and a beta of 1.07. HF Sinclair Corporation has a 52 week low of $24.66 and a 52 week high of $51.19.

HF Sinclair (NYSE:DINO - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.93 billion. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%.The business's revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. Analysts predict that HF Sinclair Corporation will post 2.39 EPS for the current year.

HF Sinclair Dividend Announcement

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

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.

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