HF Sinclair Corporation $DINO Shares Sold by Icon Advisers Inc. Co.

Key Points

• Icon Advisers Inc. Co. cut its HF Sinclair position by 16% in the first quarter, selling 28,000 shares and leaving it with 147,300 shares worth about $9.19 million.
• HF Sinclair reported strong quarterly results, posting EPS of $0.69 versus an expected loss and revenue of $7.12 billion, both better than analyst estimates.
• The company continues to reward shareholders with a $0.50 quarterly dividend ($2.00 annualized), while analysts currently have a consensus Hold rating and an average price target of $79.08.

Icon Advisers Inc. Co. reduced its holdings in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 16.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 147,300 shares of the company's stock after selling 28,000 shares during the period. HF Sinclair makes up 2.1% of Icon Advisers Inc. Co.'s investment portfolio, making the stock its 6th largest holding. Icon Advisers Inc. Co. owned about 0.08% of HF Sinclair worth $9,190,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DINO. NFJ Investment Group LLC boosted its stake in shares of HF Sinclair by 1,275.3% during the fourth quarter. NFJ Investment Group LLC now owns 1,873,541 shares of the company's stock worth $86,333,000 after buying an additional 1,737,318 shares during the period. Invesco Ltd. increased its position in HF Sinclair by 104.3% in the 3rd quarter. Invesco Ltd. now owns 1,947,075 shares of the company's stock valued at $101,910,000 after acquiring an additional 994,090 shares during the period. Victory Capital Management Inc. increased its position in HF Sinclair by 101.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,794,964 shares of the company's stock valued at $82,712,000 after acquiring an additional 903,177 shares during the period. Merewether Investment Management LP purchased a new stake in HF Sinclair during the 3rd quarter valued at approximately $35,717,000. Finally, First Trust Advisors LP raised its stake in HF Sinclair by 161.5% during the 1st quarter. First Trust Advisors LP now owns 1,037,059 shares of the company's stock valued at $64,702,000 after acquiring an additional 640,455 shares during the last quarter. 88.29% of the stock is currently owned by institutional investors and hedge funds.

HF Sinclair Stock Performance

NYSE DINO opened at $91.06 on Thursday. The stock has a market capitalization of $16.41 billion, a price-to-earnings ratio of 13.69 and a beta of 0.72. The business's 50 day moving average is $72.98 and its two-hundred day moving average is $62.58. HF Sinclair Corporation has a 12-month low of $42.16 and a 12-month high of $93.66. The company has a current ratio of 1.79, a quick ratio of 0.88 and a debt-to-equity ratio of 0.28.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.69 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.75. HF Sinclair had a return on equity of 11.94% and a net margin of 4.46%.The business had revenue of $7.12 billion during the quarter, compared to analysts' expectations of $6.83 billion. During the same period last year, the firm earned ($0.27) EPS. The company's quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts expect that HF Sinclair Corporation will post 10.81 EPS for the current year.

HF Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 11th were given a $0.50 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.00 annualized dividend and a yield of 2.2%. HF Sinclair's dividend payout ratio is presently 30.08%.

Insider Transactions at HF Sinclair

In other HF Sinclair news, CFO Vivek Garg sold 717 shares of the firm's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $71.89, for a total value of $51,545.13. Following the completion of the sale, the chief financial officer owned 11,475 shares of the company's stock, valued at approximately $824,937.75. This trade represents a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Manuel J. Fernandez sold 635 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $73.09, for a total transaction of $46,412.15. Following the sale, the director owned 16,543 shares in the company, valued at $1,209,127.87. The trade was a 3.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,736 shares of company stock valued at $954,694 in the last three months. Insiders own 0.26% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on DINO. Weiss Ratings cut HF Sinclair from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. Morgan Stanley boosted their target price on HF Sinclair from $69.00 to $78.00 and gave the company an "overweight" rating in a report on Friday, June 12th. Barclays upped their price target on HF Sinclair from $71.00 to $81.00 and gave the stock an "equal weight" rating in a research note on Monday, July 13th. Zacks Research lowered shares of HF Sinclair from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Finally, TD Cowen boosted their price objective on shares of HF Sinclair from $79.00 to $98.00 and gave the company a "hold" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $79.08.

HF Sinclair Company Profile

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.

Want to see what other hedge funds are holding DINO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HF Sinclair Corporation (NYSE:DINO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.