HF Sinclair Corporation $DINO Stock: Deroy & Devereaux Private Investment Counsel Inc. Reduces Holdings

Key Points

• Deroy & Devereaux reduced its HF Sinclair stake by 44.2% in the third quarter, selling 20,110 shares and retaining 25,409 shares valued at approximately $2.73 million.
• Institutional ownership remains high at 88.29%, with several major investors—including BlackRock, Bank of New York Mellon and Bank of America—building new positions in the company.
• HF Sinclair reported quarterly EPS of $5.31, exceeding estimates of $4.49, while revenue rose 53.2% year over year to $10.39 billion. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $107.50.

Deroy & Devereaux Private Investment Counsel Inc. trimmed its position in HF Sinclair Corporation (NYSE:DINO - Free Report) by 44.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,409 shares of the company's stock after selling 20,110 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in HF Sinclair were worth $2,727,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DINO. BlackRock Inc. acquired a new position in shares of HF Sinclair during the second quarter worth about $1,291,602,000. Bank of New York Mellon Corp acquired a new stake in HF Sinclair during the 2nd quarter valued at $140,654,000. NFJ Investment Group LLC purchased a new stake in shares of HF Sinclair during the second quarter worth about $97,422,000. Bank of America Corp DE purchased a new stake in HF Sinclair during the 2nd quarter worth approximately $89,846,000. Finally, First Trust Advisors LP increased its stake in shares of HF Sinclair by 161.5% in the first quarter. First Trust Advisors LP now owns 1,037,059 shares of the company's stock worth $64,702,000 after buying an additional 640,455 shares during the last quarter. Institutional investors and hedge funds own 88.29% of the company's stock.

HF Sinclair Price Performance

DINO opened at $125.40 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.97 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $22.29 billion, a P/E ratio of 11.97 and a beta of 0.72. The stock has a fifty day moving average of $109.76 and a 200-day moving average of $76.55. HF Sinclair Corporation has a 12-month low of $45.71 and a 12-month high of $129.37.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $5.31 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $8.68 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The firm's revenue was up 53.2% on a year-over-year basis. Equities analysts forecast that HF Sinclair Corporation will post 19.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DINO. Mizuho upped their price objective on HF Sinclair from $85.00 to $119.00 and gave the company a "neutral" rating in a research note on Thursday, October 8th. Zacks Research raised shares of HF Sinclair from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Barclays lifted their target price on HF Sinclair from $86.00 to $122.00 and gave the company an "equal weight" rating in a research note on Monday, October 12th. Morgan Stanley boosted their price target on shares of HF Sinclair from $78.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, September 14th. Finally, Freedom Capital cut HF Sinclair from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Two investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $107.50.

Insider Activity

In other news, SVP Dale Kunneman sold 8,936 shares of the company'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 completion of the sale, the senior vice president owned 42,561 shares in the company, valued at approximately $3,599,809.38. This represents a 17.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company's stock.

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.

Want to see what other hedge funds are holding DINO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HF Sinclair Corporation (NYSE:DINO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.