HF Sinclair Corporation $DINO Shares Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management cut its HF Sinclair stake by 80.2% in the third quarter, selling 35,419 shares and retaining 8,767 shares valued at approximately $941,000.
• HF Sinclair reported strong quarterly results, with earnings per share of $5.31 exceeding estimates of $4.49 and revenue rising 53.2% year over year to $10.39 billion.
• Analysts remain generally positive, assigning the stock a “Moderate Buy” consensus rating and an average price target of $114.92; shares recently traded at $113.82.

Sterling Capital Management LLC lessened its stake in HF Sinclair Corporation (NYSE:DINO - Free Report) by 80.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,767 shares of the company's stock after selling 35,419 shares during the period. Sterling Capital Management LLC's holdings in HF Sinclair were worth $941,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of HF Sinclair in the 2nd quarter valued at $1,291,602,000. Counterpoint Mutual Funds LLC acquired a new position in shares of HF Sinclair during the third quarter valued at $9,191,000. Amundi lifted its stake in shares of HF Sinclair by 12.7% during the second quarter. Amundi now owns 309,993 shares of the company's stock valued at $21,591,000 after acquiring an additional 35,049 shares during the period. Energy Income Partners LLC acquired a new position in shares of HF Sinclair during the second quarter valued at $5,210,000. Finally, State of Wyoming acquired a new position in shares of HF Sinclair during the second quarter valued at $859,000. Institutional investors and hedge funds own 88.29% of the company's stock.

HF Sinclair Stock Performance

Shares of HF Sinclair stock opened at $113.82 on Wednesday. The firm has a fifty day moving average of $110.78 and a two-hundred day moving average of $77.26. The stock has a market capitalization of $20.24 billion, a price-to-earnings ratio of 10.86 and a beta of 0.72. HF Sinclair Corporation has a 52 week low of $45.71 and a 52 week high of $129.37.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $4.49 by $0.82. The company had revenue of $10.39 billion during the quarter, compared to analyst estimates of $8.68 billion. During the same period last year, the company earned $1.10 EPS. The business's revenue for the quarter was up 53.2% compared to the same quarter last year. As a group, research analysts forecast that HF Sinclair Corporation will post 19.22 EPS for the current fiscal year.

Analysts Set New Price Targets

DINO has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on HF Sinclair from $93.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 14th. Morgan Stanley boosted their price objective on HF Sinclair from $78.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, September 14th. Weiss Ratings upgraded shares of HF Sinclair from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Mizuho raised their target price on shares of HF Sinclair from $85.00 to $119.00 and gave the company a "neutral" rating in a research note on Thursday, October 8th. Finally, TD Cowen raised their target price on shares of HF Sinclair from $100.00 to $110.00 and gave the company a "hold" rating in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $114.92.

Insider Activity at HF Sinclair

In other HF Sinclair news, SVP Dale Kunneman sold 8,936 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $755,806.88. Following the transaction, the senior vice president owned 42,561 shares in the company, valued at approximately $3,599,809.38. This trade represents a 17.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

HF Sinclair Company Profile

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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