HITE Hedge Asset Management LLC Buys New Holdings 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 its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 210,946 shares of the company's stock, valued at approximately $6,936,000. HITE Hedge Asset Management LLC owned about 0.11% of HF Sinclair at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Harbour Investments Inc. lifted its position in shares of HF Sinclair by 15.0% during the first quarter. Harbour Investments Inc. now owns 2,380 shares of the company's stock worth $78,000 after purchasing an additional 310 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in shares of HF Sinclair by 1.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,023 shares of the company's stock valued at $685,000 after acquiring an additional 379 shares in the last quarter. Bank & Trust Co raised its holdings in shares of HF Sinclair by 8.7% in the first quarter. Bank & Trust Co now owns 4,838 shares of the company's stock valued at $159,000 after acquiring an additional 389 shares in the last quarter. Financial Engines Advisors L.L.C. raised its holdings in shares of HF Sinclair by 1.5% in the first quarter. Financial Engines Advisors L.L.C. now owns 26,655 shares of the company's stock valued at $876,000 after acquiring an additional 392 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of HF Sinclair by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 44,800 shares of the company's stock valued at $1,473,000 after acquiring an additional 400 shares in the last quarter. 88.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DINO has been the subject of several recent research reports. Mizuho lifted their price objective on HF Sinclair from $50.00 to $52.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of HF Sinclair from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Scotiabank boosted their target price on shares of HF Sinclair from $49.00 to $61.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Piper Sandler downgraded shares of HF Sinclair from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $53.00 to $51.00 in a report on Tuesday, July 22nd. Finally, Barclays boosted their target price on shares of HF Sinclair from $32.00 to $43.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $49.91.

Insider Buying and Selling

In related news, EVP Valerie Pompa sold 11,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $42.53, for a total value of $467,830.00. Following the sale, the executive vice president owned 39,591 shares in the company, valued at $1,683,805.23. This represents a 21.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

HF Sinclair Stock Up 5.1%

Shares of DINO stock traded up $2.34 during trading hours on Friday, reaching $48.39. 3,217,368 shares of the company's stock were exchanged, compared to its average volume of 2,511,325. HF Sinclair Corporation has a 1 year low of $24.66 and a 1 year high of $49.92. The stock has a market cap of $9.05 billion, a PE ratio of -105.20 and a beta of 0.97. The company has a current ratio of 1.82, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The stock's fifty day moving average price is $43.70 and its two-hundred day moving average price is $37.06.

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 for the quarter, topping analysts' consensus estimates of $1.09 by $0.61. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%.The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The company's revenue was down 13.5% on a year-over-year basis. Research analysts predict that HF Sinclair Corporation will post 2.39 EPS for the current year.

HF Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a $0.50 dividend. The ex-dividend date is Thursday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.1%. HF Sinclair's dividend payout ratio is currently -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.