Invenomic Capital Management LP Trims Stake in HF Sinclair Corporation $DINO

Key Points

• Invenomic Capital Management LP has reduced its holdings in HF Sinclair Corporation by 37%, now owning approximately $5.26 million worth of shares.
• Several institutional investors have significantly increased their stakes in HF Sinclair, with Captrust Financial Advisors growing theirs by 282.9% during the last quarter.
• Analysts have raised the price targets for HF Sinclair, with UBS Group increasing theirs from $51.00 to $58.00 and maintaining a "buy" rating for the stock.

Invenomic Capital Management LP decreased its position in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 37.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,031 shares of the company's stock after selling 94,084 shares during the quarter. Invenomic Capital Management LP owned about 0.08% of HF Sinclair worth $5,262,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Byrne Asset Management LLC bought a new stake in shares of HF Sinclair during the first quarter valued at approximately $35,000. Allworth Financial LP increased its holdings 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 acquiring an additional 1,130 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of HF Sinclair by 2,202.9% during the first quarter. UMB Bank n.a. now owns 1,566 shares of the company's stock valued at $51,000 after acquiring an additional 1,498 shares in the last quarter. Harbour Investments Inc. increased its holdings 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 valued at $78,000 after acquiring an additional 310 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of HF Sinclair by 1,265.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,554 shares of the company's stock valued at $84,000 after acquiring an additional 2,367 shares in the last quarter. Institutional investors own 88.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Scotiabank boosted their price objective on HF Sinclair from $49.00 to $61.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. TD Cowen lifted 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. Morgan Stanley lifted their target price on HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of HF Sinclair in a research report on Tuesday. Finally, Wall Street Zen raised HF Sinclair from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $51.82.

HF Sinclair Stock Up 0.4%

NYSE:DINO traded up $0.20 during trading hours on Thursday, reaching $51.37. 947,779 shares of the company traded hands, compared to its average volume of 2,865,180. The company has a current ratio of 1.82, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. HF Sinclair Corporation has a 1 year low of $24.66 and a 1 year high of $53.14. The stock has a market capitalization of $9.61 billion, a P/E ratio of -111.70 and a beta of 1.07. The business's 50-day moving average price is $46.14 and its two-hundred day moving average price is $38.28.

HF Sinclair (NYSE:DINO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.61. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. Analysts predict that HF Sinclair Corporation will post 2.39 earnings per share for the current year.

HF Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.9%. HF Sinclair's dividend payout ratio is presently -434.78%.

Insider Transactions at HF Sinclair

In other news, EVP Valerie Pompa sold 11,000 shares of HF Sinclair 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 completion of the transaction, the executive vice president owned 39,591 shares in the company, valued at approximately $1,683,805.23. The trade was a 21.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

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.