HF Sinclair Corporation $DINO Shares Sold 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 cut its stake in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 12.4% in the first quarter, according to its most recent disclosure with the 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 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Byrne Asset Management LLC acquired a new position in HF Sinclair during the first quarter worth $35,000. Allworth Financial LP raised its position in HF Sinclair by 553.9% during the first quarter. Allworth Financial LP now owns 1,334 shares of the company's stock worth $41,000 after acquiring an additional 1,130 shares during the period. UMB Bank n.a. raised its position in HF Sinclair by 2,202.9% during the first quarter. UMB Bank n.a. now owns 1,566 shares of the company's stock worth $51,000 after acquiring an additional 1,498 shares during the period. Harbour Investments Inc. raised its position in HF Sinclair by 15.0% during the first quarter. Harbour Investments Inc. now owns 2,380 shares of the company's stock worth $78,000 after acquiring an additional 310 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in HF Sinclair by 1,265.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,554 shares of the company's stock worth $84,000 after acquiring an additional 2,367 shares during the period. 88.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at HF Sinclair

In other HF Sinclair news, EVP Valerie Pompa sold 11,000 shares of the 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 sale, the executive vice president owned 39,591 shares of the company's stock, valued at $1,683,805.23. This trade represents a 21.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by corporate insiders.

HF Sinclair Trading Down 2.4%

Shares of DINO opened at $51.17 on Thursday. The company has a current ratio of 1.82, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. HF Sinclair Corporation has a 12-month low of $24.66 and a 12-month high of $53.14. The firm has a 50-day moving average price of $46.14 and a 200 day moving average price of $38.28. The firm has a market capitalization of $9.57 billion, a P/E ratio of -111.23 and a beta of 1.07.

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

HF Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.9%. HF Sinclair's dividend payout ratio (DPR) is currently -434.78%.

Analysts Set New Price Targets

DINO has been the subject of a number of recent research reports. Piper Sandler cut shares of HF Sinclair from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $53.00 to $51.00 in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their target price on shares of HF Sinclair from $34.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 11th. Mizuho increased their target price on shares of HF Sinclair from $50.00 to $52.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Scotiabank increased their target price on shares of HF Sinclair from $49.00 to $61.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Finally, Morgan Stanley increased their target price on shares of HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. One investment 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 given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $51.09.

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.

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