Hsbc Holdings PLC Trims Position in HF Sinclair Corporation $DINO

Key Points

• HSBC Holdings PLC sold 217,605 shares of HF Sinclair Corporation, reducing its stake by 61.7%, leaving it with 135,131 shares worth approximately $4.47 million.
• HF Sinclair's quarterly earnings exceeded analysts' expectations, reporting earnings of $1.70 per share against an estimated $1.09, despite a 13.5% year-over-year revenue decline to $6.78 billion.
• HF Sinclair announced a quarterly dividend of $0.50, equating to an annualized yield of 4.1%, with an ex-dividend date of August 21st.

Hsbc Holdings PLC lowered its position in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 61.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,131 shares of the company's stock after selling 217,605 shares during the quarter. Hsbc Holdings PLC owned about 0.07% of HF Sinclair worth $4,471,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Byrne Asset Management LLC acquired a new position in shares of HF Sinclair during the 1st quarter valued at $35,000. Allworth Financial LP lifted its position in shares of HF Sinclair by 553.9% during the first quarter. Allworth Financial LP now owns 1,334 shares of the company's stock valued at $41,000 after purchasing an additional 1,130 shares in the last quarter. UMB Bank n.a. lifted its position in shares of HF Sinclair by 2,202.9% during the 1st quarter. UMB Bank n.a. now owns 1,566 shares of the company's stock worth $51,000 after buying an additional 1,498 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in HF Sinclair by 98.6% in 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. Finally, True Wealth Design LLC boosted its holdings in shares of HF Sinclair by 193.6% in the 4th quarter. True Wealth Design LLC now owns 1,732 shares of the company's stock worth $61,000 after buying an additional 1,142 shares during the last quarter. 88.29% of the stock is owned by institutional investors.

Insider Activity at HF Sinclair

In related news, EVP Valerie Pompa sold 11,000 shares of HF Sinclair stock in a transaction on Friday, August 1st. The shares were sold at an average price of $42.53, for a total value of $467,830.00. Following the transaction, the executive vice president directly owned 39,591 shares of the company's stock, valued at $1,683,805.23. The trade was 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 through this link. 0.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DINO has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on HF Sinclair from $34.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 11th. Mizuho raised their price target on shares of HF Sinclair from $50.00 to $52.00 and gave the company an "outperform" rating in a report on Friday, August 8th. UBS Group upped their price target on shares of HF Sinclair from $51.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Piper Sandler cut 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 report on Tuesday, July 22nd. Finally, Morgan Stanley increased their target price on HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One research 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 given a Sell rating to the company. According to MarketBeat, HF Sinclair has an average rating of "Moderate Buy" and a consensus target price of $50.55.

HF Sinclair Trading Up 0.8%

Shares of DINO traded up $0.43 during trading hours on Friday, hitting $50.97. The company had a trading volume of 1,748,196 shares, compared to its average volume of 2,221,175. HF Sinclair Corporation has a 52-week low of $24.66 and a 52-week high of $51.19. 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's 50 day moving average price is $44.56 and its 200 day moving average price is $37.52. The firm has a market cap of $9.53 billion, a P/E ratio of -110.79 and a beta of 1.07.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.61. The company had revenue of $6.78 billion during 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%.HF Sinclair's quarterly revenue was down 13.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. On average, research analysts predict that HF Sinclair Corporation will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be issued a $0.50 dividend. The ex-dividend date is Thursday, August 21st. This represents a $2.00 annualized dividend and a dividend yield of 3.9%. HF Sinclair's dividend payout ratio (DPR) is currently -434.78%.

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.