HF Sinclair Corporation $DINO Stock: Kornitzer Capital Management Inc. KS Cuts Holdings

Key Points

• Kornitzer Capital Management cut its HF Sinclair stake by 3.0% in the third quarter, selling 13,877 shares; it still held 449,218 shares valued at about $48.2 million. Institutional investors and hedge funds collectively owned 88.29% of the stock.
• HF Sinclair reported quarterly EPS of $11.75, beating the $7.83 consensus, while revenue of $10.86 billion exceeded estimates and rose 49.7% year over year. The company also declared a quarterly dividend of $0.525 per share, equivalent to a 2.2% annualized yield.
• Analysts’ average rating was Moderate Buy, with an average price target of $116. Recent calls included buy ratings and higher targets from UBS and Goldman Sachs, alongside a downgrade to strong sell from Freedom Capital.

Kornitzer Capital Management Inc. KS trimmed its holdings in HF Sinclair Corporation (NYSE:DINO - Free Report) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 449,218 shares of the company's stock after selling 13,877 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.26% of HF Sinclair worth $48,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pictet Asset Management Holding SA boosted its stake in HF Sinclair by 1.9% during the third quarter. Pictet Asset Management Holding SA now owns 24,382 shares of the company's stock worth $2,617,000 after buying an additional 461 shares during the last quarter. Parallel Advisors LLC grew its holdings in HF Sinclair by 2.2% in the 3rd quarter. Parallel Advisors LLC now owns 5,921 shares of the company's stock valued at $635,000 after buying an additional 125 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of HF Sinclair in the 3rd quarter worth $583,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of HF Sinclair in the 3rd quarter worth $1,000,000. Finally, CenterBook Partners LP acquired a new stake in shares of HF Sinclair in the 3rd quarter worth $441,000. 88.29% of the stock is currently owned by institutional investors and hedge funds.

HF Sinclair Stock Down 0.4%

Shares of NYSE:DINO opened at $97.34 on Friday. The firm has a market capitalization of $16.68 billion, a PE ratio of 4.94 and a beta of 0.73. HF Sinclair Corporation has a 1 year low of $45.71 and a 1 year high of $129.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.27 and a quick ratio of 1.40. The firm's 50-day moving average is $112.80 and its two-hundred day moving average is $79.60.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $11.75 EPS for the quarter, beating the consensus estimate of $7.83 by $3.92. The business had revenue of $10.86 billion during the quarter, compared to analyst estimates of $8.89 billion. HF Sinclair had a net margin of 10.12% and a return on equity of 32.95%. The business's revenue for the quarter was up 49.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 earnings per share. Analysts predict that HF Sinclair Corporation will post 22.32 EPS for the current year.

HF Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Thursday, November 12th will be issued a dividend of $0.5250 per share. The ex-dividend date is Thursday, November 12th. This represents a $2.10 dividend on an annualized basis and a yield of 2.2%. HF Sinclair's dividend payout ratio is 10.65%.

Analyst Ratings Changes

DINO has been the topic of several analyst reports. UBS Group lifted their price target on HF Sinclair from $126.00 to $133.00 and gave the stock a "buy" rating in a report on Saturday, October 3rd. The Goldman Sachs Group raised their price objective on shares of HF Sinclair from $114.00 to $142.00 and gave the stock a "buy" rating in a research report on Friday, October 9th. TD Cowen raised their price objective on shares of HF Sinclair from $100.00 to $110.00 and gave the stock a "hold" rating in a research report on Thursday, October 22nd. Freedom Capital downgraded shares of HF Sinclair from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Finally, Evercore assumed coverage on shares of HF Sinclair in a report on Friday, July 17th. They issued an "in-line" rating and a $85.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $116.00.

HF Sinclair Company Profile

HF Sinclair Corporation is an energy company that refines crude oil and sells fuels and other petroleum products. Its offerings include gasoline, diesel, jet fuel, asphalt, and specialty products such as lubricants and chemicals.

The company also operates midstream businesses, including pipelines, terminals, and other infrastructure that support the transportation and storage of crude oil and refined products. Its operations include renewable fuels, and its products are marketed under brands that include Sinclair.

HF Sinclair was formed in 2022 through the combination of HollyFrontier Corporation and Sinclair Oil Corporation.

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