HF Sinclair Corporation $DINO Stock Position Reduced by WBI Investments LLC

Key Points

• WBI Investments LLC reduced its stake in HF Sinclair Corporation by 12.4%, selling 6,024 shares, resulting in a remaining ownership of 42,383 shares valued at approximately $1.39 million.
• HF Sinclair reported a significant earnings per share of $1.70 for the last quarter, exceeding analysts' expectations, but its revenue dropped 13.5% compared to the same period last year.
• The company declared a quarterly dividend of $0.50 per share, reflecting a 3.9% yield on an annualized basis despite a negative dividend payout ratio.

WBI Investments LLC trimmed its position in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 12.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,383 shares of the company's stock after selling 6,024 shares during the period. WBI Investments LLC's holdings in HF Sinclair were worth $1,394,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DINO. Southeastern Asset Management Inc. TN acquired a new position in HF Sinclair in the fourth quarter worth about $96,344,000. AQR Capital Management LLC lifted its position in HF Sinclair by 109.8% in the 1st quarter. AQR Capital Management LLC now owns 4,986,355 shares of the company's stock valued at $163,951,000 after acquiring an additional 2,609,857 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in HF Sinclair by 1,633.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,694,918 shares of the company's stock valued at $55,730,000 after acquiring an additional 1,597,152 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of HF Sinclair by 19.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,185,509 shares of the company's stock valued at $269,142,000 after acquiring an additional 1,337,093 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of HF Sinclair by 207.5% during the 1st quarter. Millennium Management LLC now owns 1,970,006 shares of the company's stock worth $64,774,000 after purchasing an additional 1,329,408 shares during the last quarter. Institutional investors own 88.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DINO shares. Scotiabank upped their price target on shares of HF Sinclair from $49.00 to $61.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Barclays raised their price target 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. Wall Street Zen raised shares of HF Sinclair from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley upped their price target on shares of HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company upped their target price on shares of HF Sinclair from $34.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, HF Sinclair has an average rating of "Moderate Buy" and an average price target of $52.55.

Insider Buying and Selling

In other news, EVP Valerie Pompa sold 11,000 shares of HF Sinclair stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $42.53, for a total value of $467,830.00. Following the completion of the transaction, the executive vice president owned 39,591 shares in the company, valued at approximately $1,683,805.23. This trade represents a 21.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is owned by company insiders.

HF Sinclair Stock Up 1.9%

HF Sinclair stock traded up $1.00 during trading hours on Tuesday, reaching $52.64. The stock had a trading volume of 767,229 shares, compared to its average volume of 2,856,860. The company has a market cap of $9.85 billion, a price-to-earnings ratio of -114.48 and a beta of 1.07. 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's 50 day moving average price is $46.58 and its 200-day moving average price is $38.65. HF Sinclair Corporation has a 52 week low of $24.66 and a 52 week high of $53.33.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the firm posted $0.78 EPS. HF Sinclair's revenue for the quarter was down 13.5% compared to the same quarter last year. Sell-side analysts anticipate that HF Sinclair Corporation will post 2.39 EPS for the current year.

HF Sinclair Dividend Announcement

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

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.