LSV Asset Management Reduces Stock Position in HF Sinclair Corporation (NYSE:DINO)

Key Points

• LSV Asset Management reduced its position in HF Sinclair Corporation by 4.5% during the first quarter, now holding approximately 3.75 million shares worth about $123.3 million.
• HF Sinclair's stock recently experienced multiple price target upgrades from several analysts, with Morgan Stanley raising its target from $44 to $50 and Scotiabank adjusting it from $49 to $61, indicating increasing confidence in the company's performance.
• The company announced a quarterly dividend of $0.50 per share, translating to an annualized yield of 4.7%, despite a negative dividend payout ratio of -434.78%.

LSV Asset Management decreased its stake in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,750,449 shares of the company's stock after selling 177,544 shares during the period. LSV Asset Management owned approximately 1.99% of HF Sinclair worth $123,315,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC acquired a new position in HF Sinclair during the fourth quarter worth $31,000. Byrne Asset Management LLC acquired a new position in HF Sinclair during the first quarter worth $35,000. Allworth Financial LP boosted its holdings 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 purchasing an additional 1,130 shares during the last quarter. UMB Bank n.a. boosted its holdings 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 purchasing an additional 1,498 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in HF Sinclair by 98.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,603 shares of the company's stock worth $56,000 after purchasing an additional 796 shares during the last quarter. Institutional investors own 88.29% of the company's stock.

HF Sinclair Price Performance

DINO stock traded up $0.10 during mid-day trading on Thursday, hitting $43.46. The stock had a trading volume of 149,495 shares, compared to its average volume of 2,951,442. 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 52 week low of $24.66 and a 52 week high of $49.92. The firm has a market capitalization of $8.13 billion, a P/E ratio of -94.38 and a beta of 0.97. The firm has a fifty day simple moving average of $41.78 and a 200 day simple moving average of $36.35.

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 for the quarter, beating 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 for the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the company posted $0.78 EPS. The firm's quarterly revenue was down 13.5% compared to the same quarter last year. As a group, research analysts forecast that HF Sinclair Corporation will post 2.39 EPS for the current year.

HF Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Thursday, August 21st. HF Sinclair's dividend payout ratio is presently -434.78%.

Wall Street Analyst Weigh In

A number of brokerages have commented on DINO. Wall Street Zen upgraded shares of HF Sinclair from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Barclays increased 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 note on Wednesday, July 9th. Piper Sandler cut shares of HF Sinclair from an "overweight" rating to a "neutral" rating and cut their price target for the company from $53.00 to $51.00 in a research note on Tuesday, July 22nd. Scotiabank increased their price target on shares of HF Sinclair from $49.00 to $61.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Finally, Morgan Stanley increased their price target on shares of HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.45.

Insider Transactions at HF Sinclair

In other HF Sinclair news, EVP Valerie Pompa sold 11,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $42.53, for a total value of $467,830.00. Following the completion of the sale, the executive vice president directly owned 39,591 shares of the company's stock, valued at approximately $1,683,805.23. This represents a 21.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

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.