HF Sinclair Corporation $DINO Shares Sold by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors reduced its HF Sinclair stake by 8.9% during the third quarter, selling 12,400 shares and retaining 126,700 shares worth approximately $13.6 million. Institutional investors collectively own 88.29% of the company.
• HF Sinclair reported quarterly EPS of $11.75, exceeding estimates of $7.83, while revenue rose 49.7% year over year to $10.86 billion. Shares opened at $115.01, with a market capitalization of $19.71 billion.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $115.75. The company also declared a quarterly dividend of $0.525 per share, representing a 1.8% yield.

Hennessy Advisors Inc. lessened its stake in HF Sinclair Corporation (NYSE:DINO - Free Report) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,700 shares of the company's stock after selling 12,400 shares during the quarter. Hennessy Advisors Inc. owned about 0.07% of HF Sinclair worth $13,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of DINO. BlackRock Inc. acquired a new position in shares of HF Sinclair during the second quarter worth approximately $1,291,602,000. Dimensional Fund Advisors LP increased its holdings in shares of HF Sinclair by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 9,249,939 shares of the company's stock valued at $577,114,000 after purchasing an additional 103,135 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of HF Sinclair in the second quarter valued at approximately $140,654,000. NFJ Investment Group LLC bought a new position in HF Sinclair in the 2nd quarter worth approximately $97,422,000. Finally, Bank of America Corp DE bought a new position in HF Sinclair in the 2nd quarter worth approximately $89,846,000. 88.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Raymond James Financial set a $150.00 price objective on HF Sinclair in a research report on Wednesday. Zacks Research raised shares of HF Sinclair from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. The Goldman Sachs Group increased their target price on HF Sinclair from $114.00 to $142.00 and gave the company a "buy" rating in a research note on Friday, October 9th. TD Cowen lifted their price target on shares of HF Sinclair from $100.00 to $110.00 and gave the stock a "hold" rating in a research report on Thursday, October 22nd. Finally, UBS Group lifted their price objective on HF Sinclair from $126.00 to $133.00 and gave the company a "buy" rating in a report on Saturday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, HF Sinclair presently has an average rating of "Moderate Buy" and a consensus target price of $115.75.

HF Sinclair Trading Up 0.0%

Shares of DINO stock opened at $115.01 on Monday. The firm has a 50 day moving average price of $111.90 and a two-hundred day moving average price of $78.21. The company has a quick ratio of 1.40, a current ratio of 2.27 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $19.71 billion, a PE ratio of 5.84 and a beta of 0.73. HF Sinclair Corporation has a 12-month low of $45.71 and a 12-month high of $129.37.

HF Sinclair (NYSE:DINO - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $11.75 earnings per share for the quarter, topping the consensus estimate of $7.83 by $3.92. HF Sinclair had a return on equity of 32.95% and a net margin of 10.12%. The business had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $8.89 billion. During the same period last year, the firm posted $2.44 EPS. The firm's revenue for the quarter was up 49.7% compared to the same quarter last year. As a group, analysts predict that HF Sinclair Corporation will post 21.09 earnings per share for the current year.

HF Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Thursday, November 12th will be given a $0.5250 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, November 12th. HF Sinclair's payout ratio is presently 10.65%.

Insider Activity

In related news, SVP Dale Kunneman sold 8,936 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $755,806.88. Following the completion of the sale, the senior vice president directly owned 42,561 shares in the company, valued at approximately $3,599,809.38. The trade was a 17.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company's stock.

About HF Sinclair

HF Sinclair Corporation NYSE: DINO is an independent energy company engaged in refining, marketing and distributing petroleum products. The company operates refineries that process crude oil into gasoline, diesel, jet fuel, asphalt, lubricants and other specialty products. Its portfolio also includes renewable fuels activities and the production and marketing of base oils and other petroleum-based products.

HF Sinclair markets fuel under the Sinclair brand and supplies products to commercial customers, independent retailers and other wholesale and retail channels.

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