Canada Pension Plan Investment Board Lowers Holdings in HF Sinclair Corporation $DINO

Key Points

• Canada Pension Plan Investment Board reduced its stake in HF Sinclair Corporation by 34.0% in Q1, now holding approximately 0.12% of the company valued at $7.29 million.
• HF Sinclair reported an earnings per share (EPS) of $1.70 for the last quarter, topping estimates, but revenue declined by 13.5% year-over-year.
• HF Sinclair announced a quarterly dividend of $0.50 per share, yielding 3.8%, with an ex-dividend date set for August 21st.

Canada Pension Plan Investment Board decreased its position in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 34.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,700 shares of the company's stock after selling 114,300 shares during the period. Canada Pension Plan Investment Board owned 0.12% of HF Sinclair worth $7,289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Byrne Asset Management LLC acquired a new position in HF Sinclair during the 1st quarter worth $35,000. Allworth Financial LP increased its holdings in shares of HF Sinclair by 553.9% during the 1st quarter. Allworth Financial LP now owns 1,334 shares of the company's stock worth $41,000 after purchasing an additional 1,130 shares during the period. UMB Bank n.a. increased its holdings in shares of HF Sinclair by 2,202.9% during the 1st quarter. UMB Bank n.a. now owns 1,566 shares of the company's stock worth $51,000 after purchasing an additional 1,498 shares during the period. Harbour Investments Inc. increased its holdings in shares of 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 period. Finally, Exchange Traded Concepts LLC increased its holdings in shares of HF Sinclair by 1,265.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,554 shares of the company's stock worth $84,000 after purchasing an additional 2,367 shares during the period. Institutional investors and hedge funds own 88.29% of the company's stock.

HF Sinclair Trading Down 0.9%

NYSE:DINO traded down $0.47 during trading hours on Friday, hitting $51.09. The stock had a trading volume of 1,614,597 shares, compared to its average volume of 2,113,323. The business's 50 day moving average is $45.59 and its 200-day moving average is $37.98. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.82. HF Sinclair Corporation has a one year low of $24.66 and a one year high of $52.86. The company has a market cap of $9.56 billion, a price-to-earnings ratio of -111.07 and a beta of 1.07.

HF Sinclair (NYSE:DINO - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.70 earnings per share 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 the consensus estimate of $6.93 billion. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.89%. The firm's revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. Sell-side analysts anticipate that HF Sinclair Corporation will post 2.39 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, August 21st. HF Sinclair's payout ratio is presently -434.78%.

Insider Transactions at HF Sinclair

In other news, EVP Valerie Pompa sold 11,000 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 39,591 shares of the company's stock, valued at approximately $1,683,805.23. This represents a 21.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of HF Sinclair from $50.00 to $52.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Wells Fargo & Company lifted their target price on shares of HF Sinclair from $34.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 11th. Barclays lifted their target price on shares of HF Sinclair from $32.00 to $43.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Raymond James Financial upgraded shares of HF Sinclair from a "market perform" rating to a "strong-buy" rating and set a $54.00 target price on the stock in a research report on Tuesday, July 15th. Finally, TD Cowen lifted their target price on shares of HF Sinclair from $45.00 to $46.00 and gave the company a "hold" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, HF Sinclair currently has an average rating of "Moderate Buy" and a consensus price target of $50.55.

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.