Assetmark Inc. Raises Position in HF Sinclair Corporation (NYSE:DINO)

Key Points

• Assetmark Inc. increased its stake in HF Sinclair Corporation by 9.8% during the first quarter, now owning approximately 0.05% of the company's stock worth $3.35 million.
• Analysts have mixed views on HF Sinclair, with Barclays raising their price target to $43.00, while Piper Sandler lowered their rating from "overweight" to "neutral."
• HF Sinclair recently declared a dividend of $0.50 per share, yielding 4.44%, despite a negative dividend payout ratio of -259.74%.

Assetmark Inc. increased its holdings in HF Sinclair Corporation (NYSE:DINO - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 101,884 shares of the company's stock after buying an additional 9,079 shares during the period. Assetmark Inc. owned 0.05% of HF Sinclair worth $3,350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Southeastern Asset Management Inc. TN purchased a new position in HF Sinclair during the fourth quarter valued at approximately $96,344,000. Balyasny Asset Management L.P. boosted its holdings in shares of HF Sinclair by 645.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,840,955 shares of the company's stock worth $64,525,000 after purchasing an additional 1,593,875 shares in the last quarter. Norges Bank bought a new position in shares of HF Sinclair during the 4th quarter valued at about $41,317,000. First Trust Advisors LP increased its position in shares of HF Sinclair by 53.7% during the 4th quarter. First Trust Advisors LP now owns 3,139,092 shares of the company's stock valued at $110,025,000 after purchasing an additional 1,096,485 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of HF Sinclair by 61.6% during the 4th quarter. AQR Capital Management LLC now owns 2,376,498 shares of the company's stock valued at $82,536,000 after purchasing an additional 906,225 shares during the last quarter. 88.29% of the stock is owned by institutional investors.

HF Sinclair Trading Down 3.6%

NYSE DINO traded down $1.60 during trading on Friday, hitting $42.34. The company had a trading volume of 2,694,511 shares, compared to its average volume of 2,471,429. The company has a current ratio of 1.87, a quick ratio of 0.76 and a debt-to-equity ratio of 0.29. HF Sinclair Corporation has a one year low of $24.66 and a one year high of $49.92. The company has a market cap of $7.98 billion, a price-to-earnings ratio of -92.04 and a beta of 0.97. The company's fifty day moving average is $41.33 and its 200-day moving average is $36.21.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.70 earnings per share (EPS) 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 1.88%. HF Sinclair's quarterly revenue was down 13.5% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. On average, sell-side analysts predict that HF Sinclair Corporation will post 2.39 earnings per share for the current year.

HF Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Thursday, August 21st. HF Sinclair's dividend payout ratio (DPR) is presently -434.78%.

Analyst Ratings Changes

DINO has been the subject of a number of research reports. Scotiabank upped their price objective 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. Wolfe Research cut shares of HF Sinclair from a "peer perform" rating to an "underperform" rating in a research note on Monday, July 14th. Wells Fargo & Company upped their price objective on shares of HF Sinclair from $34.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 11th. Morgan Stanley upped their price target on shares of HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Raymond James Financial raised shares of HF Sinclair from a "market perform" rating to a "strong-buy" rating and set a $54.00 price target for the company in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.82.

About HF Sinclair

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.