Viking Fund Management LLC Lowers Stock Holdings in HF Sinclair Corporation $DINO

Key Points

• Viking Fund Management LLC reduced its stake in HF Sinclair Corporation by 37.5%, holding 25,000 shares valued at approximately $1,027,000 after selling 15,000 shares in the second quarter.
• HF Sinclair reported earnings of $1.70 per share, exceeding estimates of $1.09, and generated $6.78 billion in revenue, though this was lower than the $6.93 billion forecasted by analysts.
• Several research firms adjusted their price targets for HF Sinclair, with Goldman Sachs raising it from $54 to $61 and maintaining a buy rating, while Wolfe Research downgraded it to underperform.

Viking Fund Management LLC decreased its position in HF Sinclair Corporation (NYSE:DINO - Free Report) by 37.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,000 shares of the company's stock after selling 15,000 shares during the quarter. Viking Fund Management LLC's holdings in HF Sinclair were worth $1,027,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. CWA Asset Management Group LLC acquired a new position in shares of HF Sinclair in the 1st quarter worth approximately $421,000. Pacific Heights Asset Management LLC grew its holdings in HF Sinclair by 9.1% during the 1st quarter. Pacific Heights Asset Management LLC now owns 240,000 shares of the company's stock worth $7,891,000 after acquiring an additional 20,000 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of HF Sinclair by 72.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 51,230 shares of the company's stock worth $1,684,000 after buying an additional 21,597 shares during the period. Principal Financial Group Inc. grew its holdings in shares of HF Sinclair by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,289,510 shares of the company's stock valued at $42,399,000 after buying an additional 27,764 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of HF Sinclair by 7.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 131,700 shares of the company's stock valued at $4,354,000 after purchasing an additional 9,070 shares during the period. 88.29% of the stock is currently owned by institutional investors and hedge funds.

HF Sinclair Stock Performance

Shares of HF Sinclair stock traded up $0.71 during trading on Tuesday, hitting $53.12. 486,757 shares of the company's stock traded hands, compared to its average volume of 2,846,621. HF Sinclair Corporation has a 1 year low of $24.66 and a 1 year high of $53.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.82 and a quick ratio of 0.83. The business has a 50-day simple moving average of $47.34 and a 200-day simple moving average of $39.37. The stock has a market capitalization of $9.94 billion, a P/E ratio of -115.50 and a beta of 1.07.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.61. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.89%. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm's revenue was down 13.5% compared to the same quarter last year. As a group, analysts forecast that HF Sinclair Corporation will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, August 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.8%. HF Sinclair's payout ratio is presently -434.78%.

Insider Buying and Selling 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 $1,683,805.23. This represents a 21.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. The Goldman Sachs Group raised their price target on HF Sinclair from $54.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Piper Sandler increased their price objective on shares of HF Sinclair from $51.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Morgan Stanley raised their price objective on HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Barclays boosted their price target on shares of HF Sinclair from $32.00 to $43.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Finally, Mizuho upped their price target on HF Sinclair from $52.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.25.

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.