Hsbc Holdings PLC Has $2.01 Million Position in HF Sinclair Corporation $DINO

Key Points

• HSBC Holdings reduced its HF Sinclair position by 74% in the second quarter, selling 81,028 shares and retaining 28,438 shares worth approximately $2.01 million. Institutional investors collectively own 88.29% of DINO stock.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $87.25; individual targets range from $85 to $105, although one firm downgraded the stock to “Strong Sell.”
• HF Sinclair reported quarterly EPS of $5.31, beating estimates of $4.49, while revenue rose 53.2% year over year to $10.39 billion. The company also increased its quarterly dividend to $0.525 per share, or $2.10 annually.

Hsbc Holdings PLC lowered its position in HF Sinclair Corporation (NYSE:DINO - Free Report) by 74.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,438 shares of the company's stock after selling 81,028 shares during the period. Hsbc Holdings PLC's holdings in HF Sinclair were worth $2,012,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in HF Sinclair during the second quarter worth about $1,291,602,000. Dimensional Fund Advisors LP grew its position in HF Sinclair by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,249,939 shares of the company's stock worth $577,114,000 after acquiring an additional 103,135 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of HF Sinclair by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,364,158 shares of the company's stock valued at $293,260,000 after buying an additional 48,103 shares during the period. State Street Corp boosted its holdings in HF Sinclair by 0.4% in the fourth quarter. State Street Corp now owns 6,142,078 shares of the company's stock valued at $283,027,000 after acquiring an additional 22,150 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in HF Sinclair by 13.7% during the fourth quarter. AQR Capital Management LLC now owns 4,359,370 shares of the company's stock worth $200,880,000 after purchasing an additional 523,709 shares during the period. Institutional investors and hedge funds own 88.29% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on DINO. Freedom Capital cut HF Sinclair from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Wells Fargo & Company boosted their target price on shares of HF Sinclair from $67.00 to $93.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 1st. Evercore initiated coverage on shares of HF Sinclair in a research note on Friday, July 17th. They set an "in-line" rating and a $85.00 price target for the company. Raymond James Financial set a $105.00 price target on HF Sinclair in a research report on Wednesday, July 29th. Finally, Barclays increased their price objective on HF Sinclair from $81.00 to $86.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, HF Sinclair has an average rating of "Moderate Buy" and an average target price of $87.25.

Insider Transactions at HF Sinclair

In other HF Sinclair news, Director Rhoman J. Hardy bought 1,508 shares of HF Sinclair stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average price of $66.32 per share, with a total value of $100,010.56. Following the completion of the acquisition, the director directly owned 15,037 shares in the company, valued at approximately $997,253.84. This trade represents a 11.15% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dale Kunneman sold 8,936 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total transaction of $755,806.88. Following the sale, the senior vice president directly owned 42,561 shares in the company, valued at approximately $3,599,809.38. The trade was a 17.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.26% of the company's stock.

HF Sinclair Trading Up 0.4%

Shares of DINO stock opened at $108.10 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.97 and a quick ratio of 1.10. The company has a market cap of $19.22 billion, a PE ratio of 10.31 and a beta of 0.71. HF Sinclair Corporation has a 1 year low of $45.71 and a 1 year high of $112.17. The stock's 50 day simple moving average is $91.96 and its two-hundred day simple moving average is $73.60.

HF Sinclair (NYSE:DINO - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.82. The company had revenue of $10.39 billion during the quarter, compared to analysts' expectations of $8.68 billion. HF Sinclair had a net margin of 6.13% and a return on equity of 18.21%. The firm's quarterly revenue was up 53.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. Research analysts predict that HF Sinclair Corporation will post 11.85 earnings per share for the current year.

HF Sinclair Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 11th were issued a $0.525 dividend. This is an increase from HF Sinclair's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 11th. HF Sinclair's dividend payout ratio is 20.04%.

HF Sinclair Profile

HF Sinclair Corporation is an independent energy company engaged in refining, marketing and distributing petroleum products. The company operates refineries that process crude oil into transportation fuels, including gasoline, diesel and jet fuel, as well as asphalt, base oils and other specialty products.

Through its marketing operations, HF Sinclair supplies fuel and related products to commercial customers, wholesale distributors and retail locations under brands that include Sinclair, HollyFrontier and various regional fuel brands.

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