HF Sinclair Corporation $DINO Stake Decreased by Adams Asset Advisors LLC

Key Points

• Adams Asset Advisors reduced its HF Sinclair stake by 6.3% in the third quarter, selling 15,462 shares and retaining 228,380 shares valued at approximately $24.5 million. Institutional investors collectively own 88.29% of the company.
• HF Sinclair reported quarterly earnings of $5.31 per share, exceeding estimates of $4.49, while revenue rose 53.2% year over year to $10.39 billion.
• The company raised its quarterly dividend to $0.525 per share, or $2.10 annually, representing a 1.7% yield. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $97.67.

Adams Asset Advisors LLC cut its stake in HF Sinclair Corporation (NYSE:DINO - Free Report) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 228,380 shares of the company's stock after selling 15,462 shares during the period. HF Sinclair makes up 2.3% of Adams Asset Advisors LLC's investment portfolio, making the stock its 10th largest position. Adams Asset Advisors LLC owned about 0.13% of HF Sinclair worth $24,510,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of HF Sinclair during the second quarter valued at about $1,291,602,000. Energy Income Partners LLC bought a new position in HF Sinclair in the 2nd quarter valued at about $5,210,000. Amundi increased its stake in HF Sinclair by 12.7% during the 2nd quarter. Amundi now owns 309,993 shares of the company's stock valued at $21,591,000 after buying an additional 35,049 shares during the period. State of Wyoming acquired a new position in HF Sinclair during the 2nd quarter valued at about $859,000. Finally, Corient Private Wealth LP bought a new stake in shares of HF Sinclair during the 2nd quarter worth about $913,000. 88.29% of the stock is currently owned by hedge funds and other institutional investors.

HF Sinclair Price Performance

DINO stock traded up $5.00 on Thursday, hitting $120.63. 2,431,127 shares of the company's stock traded hands, compared to its average volume of 2,694,082. The stock has a market cap of $21.45 billion, a price-to-earnings ratio of 11.51 and a beta of 0.72. HF Sinclair Corporation has a 1-year low of $45.71 and a 1-year high of $120.83. The company has a current ratio of 1.97, a quick ratio of 1.10 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average of $101.24 and a 200-day moving average of $80.83.

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 (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.82. HF Sinclair had a net margin of 6.13% and a return on equity of 18.21%. The firm had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.68 billion. During the same quarter in the previous year, the business posted $1.10 earnings per share. The firm's quarterly revenue was up 53.2% compared to the same quarter last year. On average, analysts forecast that HF Sinclair Corporation will post 18.15 EPS for the current fiscal year.

HF Sinclair Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.5250 per share. This is a positive change from HF Sinclair's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, August 11th. HF Sinclair's dividend payout ratio (DPR) is currently 20.04%.

Insider Activity at HF Sinclair

In related news, SVP Dale Kunneman sold 8,936 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $755,806.88. Following the completion of the transaction, the senior vice president owned 42,561 shares in the company, valued at $3,599,809.38. This trade represents a 17.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of HF Sinclair from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. The Goldman Sachs Group reissued a "buy" rating and set a $114.00 target price on shares of HF Sinclair in a report on Wednesday, July 29th. Wells Fargo & Company upped their target price on HF Sinclair from $67.00 to $93.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 1st. Barclays increased their price target on HF Sinclair from $81.00 to $86.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 29th. Finally, Raymond James Financial boosted their price objective on HF Sinclair from $105.00 to $140.00 and gave the stock a "strong-buy" rating in a research note on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $97.67.

HF Sinclair Company Profile

HF Sinclair Corporation is an independent energy company engaged in refining, marketing, and distributing petroleum products. The company produces gasoline, diesel fuel, jet fuel, asphalt, lubricants, and specialty products for commercial, industrial, and consumer markets. Its operations also include renewable energy activities, including the production and marketing of renewable diesel.

HF Sinclair markets fuel and related products through branded and unbranded channels under names that include Sinclair, HollyFrontier, and Petro-Canada Lubricants.

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