Ieq Capital LLC Increases Stake in HF Sinclair Corporation $DINO

Key Points

• Ieq Capital LLC has increased its holdings in HF Sinclair Corporation by 59.5%, now owning about 0.09% of the company valued at $5.6 million.
• HF Sinclair reported a quarterly earnings per share of $1.70, significantly surpassing estimates, although revenue decreased by 13.5% year-over-year.
• The company announced a quarterly dividend of $0.50 per share, translating to an annualized yield of 4.0%, despite a high payout ratio of -434.78%.

Ieq Capital LLC grew its position in HF Sinclair Corporation (NYSE:DINO - Free Report) by 59.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,353 shares of the company's stock after acquiring an additional 63,580 shares during the quarter. Ieq Capital LLC owned 0.09% of HF Sinclair worth $5,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Southeastern Asset Management Inc. TN bought a new position in shares of HF Sinclair during the 4th quarter valued at approximately $96,344,000. Price T Rowe Associates Inc. MD increased its position in shares of HF Sinclair by 1,633.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,694,918 shares of the company's stock valued at $55,730,000 after purchasing an additional 1,597,152 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of HF Sinclair by 645.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,840,955 shares of the company's stock valued at $64,525,000 after purchasing an additional 1,593,875 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of HF Sinclair by 19.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,185,509 shares of the company's stock valued at $269,142,000 after purchasing an additional 1,337,093 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. Institutional investors own 88.29% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DINO shares. TD Cowen boosted their target price on HF Sinclair from $45.00 to $46.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Wolfe Research downgraded HF Sinclair from a "peer perform" rating to an "underperform" rating in a research report on Monday, July 14th. Barclays boosted their target price on HF Sinclair from $32.00 to $43.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Morgan Stanley boosted their price objective on 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 upgraded HF Sinclair from a "market perform" rating to a "strong-buy" rating and set a $54.00 price objective for the company in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, HF Sinclair presently has a consensus rating of "Moderate Buy" and an average price target of $50.55.

HF Sinclair Trading Down 0.5%

DINO traded down $0.25 during trading hours on Wednesday, reaching $51.83. 449,872 shares of the company's stock traded hands, compared to its average volume of 2,879,287. The firm has a 50-day moving average price of $44.98 and a 200 day moving average price of $37.71. HF Sinclair Corporation has a 52-week low of $24.66 and a 52-week high of $52.86. 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 firm has a market capitalization of $9.70 billion, a PE ratio of -112.65 and a beta of 1.07.

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

HF Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.50 per share. 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%.

Insider Activity at HF Sinclair

In other news, EVP Valerie Pompa sold 11,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $42.53, for a total transaction of $467,830.00. Following the transaction, the executive vice president owned 39,591 shares in the company, valued at approximately $1,683,805.23. This trade represents a 21.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.28% of the company's stock.

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.