KLP Kapitalforvaltning AS Buys 19,200 Shares of HF Sinclair Corporation $DINO

Key Points

• KLP Kapitalforvaltning AS increased its ownership in HF Sinclair Corporation by 13.4%, acquiring an additional 19,200 shares, bringing its total to 162,700 shares valued at approximately $6.68 million.
• HF Sinclair's stock ratings are mixed, with analysts giving it a consensus rating of "Moderate Buy" and varying target prices, the highest being $61.00 from Goldman Sachs.
• The company declared a quarterly dividend of $0.50, translating to an annual yield of 4.0%, despite a heavily negative dividend payout ratio of -434.78%.

KLP Kapitalforvaltning AS boosted its stake in HF Sinclair Corporation (NYSE:DINO - Free Report) by 13.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,700 shares of the company's stock after purchasing an additional 19,200 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.09% of HF Sinclair worth $6,684,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. QRG Capital Management Inc. bought a new stake in shares of HF Sinclair in the second quarter worth $215,000. Hilltop National Bank bought a new stake in shares of HF Sinclair during the 2nd quarter valued at about $46,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of HF Sinclair by 11.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 147,321 shares of the company's stock valued at $6,052,000 after purchasing an additional 15,621 shares during the period. PFG Investments LLC bought a new stake in HF Sinclair during the second quarter valued at approximately $244,000. Finally, Greenleaf Trust bought a new stake in HF Sinclair during the second quarter valued at approximately $250,000. Institutional investors own 88.29% of the company's stock.

Insider Activity at HF Sinclair

In other news, EVP Valerie Pompa sold 11,000 shares of the firm'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 completion of the sale, the executive vice president directly owned 39,591 shares of the company's stock, valued at $1,683,805.23. This trade represents a 21.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

DINO has been the subject of several recent research reports. Barclays boosted their target price on shares of HF Sinclair from $45.00 to $54.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 1st. Zacks Research raised shares of HF Sinclair from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Wolfe Research lowered HF Sinclair from a "peer perform" rating to an "underperform" rating in a report on Monday, July 14th. Scotiabank reissued an "outperform" rating on shares of HF Sinclair in a report on Thursday. Finally, The Goldman Sachs Group boosted their price objective on HF Sinclair from $54.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.09.

HF Sinclair Trading Down 3.4%

DINO stock opened at $50.57 on Friday. HF Sinclair Corporation has a 1-year low of $24.66 and a 1-year high of $54.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.82 and a quick ratio of 0.83. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of -109.93 and a beta of 1.00. The business has a 50 day simple moving average of $49.67 and a two-hundred day simple moving average of $41.18.

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 for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the company posted $0.78 EPS. The firm's revenue for the quarter was down 13.5% compared to the same quarter last year. Research analysts anticipate that HF Sinclair Corporation will post 2.39 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.0%. HF Sinclair's dividend payout ratio (DPR) is presently -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.

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