HITE Hedge Asset Management LLC Makes New Investment in HF Sinclair Corporation $DINO

Key Points

• HITE Hedge Asset Management LLC acquired a new position in HF Sinclair Corporation, purchasing 210,946 shares valued at approximately $6.94 million in the first quarter.
• HF Sinclair recently reported earnings per share (EPS) of $1.70 for the most recent quarter, exceeding analysts' estimates of $1.09, with a quarterly revenue of $6.78 billion, which fell short of expectations.
• The company declared a quarterly dividend of $0.50 per share, which translates to an annualized yield of 4.5%, with eligibility for stockholders of record on August 21st.

HITE Hedge Asset Management LLC bought a new position in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 210,946 shares of the company's stock, valued at approximately $6,936,000. HITE Hedge Asset Management LLC owned approximately 0.11% of HF Sinclair at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC bought a new stake in HF Sinclair during the fourth quarter valued at $31,000. Byrne Asset Management LLC acquired a new position in HF Sinclair during the first quarter worth $35,000. Allworth Financial LP raised its holdings in shares of HF Sinclair by 553.9% in the 1st quarter. Allworth Financial LP now owns 1,334 shares of the company's stock worth $41,000 after acquiring an additional 1,130 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of HF Sinclair by 2,202.9% in the first quarter. UMB Bank n.a. now owns 1,566 shares of the company's stock valued at $51,000 after purchasing an additional 1,498 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in HF Sinclair by 98.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,603 shares of the company's stock worth $56,000 after acquiring an additional 796 shares during the last quarter. Institutional investors own 88.29% of the company's stock.

Analyst Upgrades and Downgrades

DINO has been the subject of a number of recent analyst reports. Mizuho upped their price objective on HF Sinclair from $50.00 to $52.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Piper Sandler lowered shares of HF Sinclair from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $53.00 to $51.00 in a research report on Tuesday, July 22nd. Barclays boosted their target price on shares of HF Sinclair from $32.00 to $43.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. TD Cowen lifted their price target on HF Sinclair from $45.00 to $46.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company increased their price objective on HF Sinclair from $34.00 to $38.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, HF Sinclair currently has an average rating of "Moderate Buy" and a consensus target price of $49.91.

Insider Activity

In other HF Sinclair news, EVP Valerie Pompa sold 11,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $42.53, for a total value of $467,830.00. Following the transaction, the executive vice president owned 39,591 shares of the company's stock, valued at approximately $1,683,805.23. This represents a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is currently owned by insiders.

HF Sinclair Stock Performance

Shares of DINO opened at $44.77 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.82 and a debt-to-equity ratio of 0.29. The stock has a market cap of $8.38 billion, a P/E ratio of -97.33 and a beta of 0.97. The business's 50 day moving average price is $42.89 and its 200-day moving average price is $36.73. HF Sinclair Corporation has a 52 week low of $24.66 and a 52 week high of $49.92.

HF Sinclair (NYSE:DINO - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.61. The firm had revenue of $6.78 billion for the quarter, compared to analysts' expectations of $6.93 billion. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%. The company's quarterly revenue was down 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 earnings per share. Equities research analysts anticipate that HF Sinclair Corporation will post 2.39 earnings per share for the current fiscal year.

HF Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, August 21st. HF Sinclair's dividend payout ratio is presently -434.78%.

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.

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