KLP Kapitalforvaltning AS Has $4.72 Million Stock Position in HF Sinclair Corporation (NYSE:DINO)

Key Points

• KLP Kapitalforvaltning AS has reduced its stake in HF Sinclair Corporation by 28.5%, selling 57,100 shares and now holding 143,500 shares valued at approximately $4.71 million.
• HF Sinclair recently reported a net loss of ($0.27) earnings per share for the quarter, exceeding estimates but showing a 9.3% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.50, translating to an annual yield of 4.63%, despite a negative dividend payout ratio.

KLP Kapitalforvaltning AS lowered its position in HF Sinclair Corporation (NYSE:DINO - Free Report) by 28.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,500 shares of the company's stock after selling 57,100 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.08% of HF Sinclair worth $4,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of HF Sinclair in the first quarter valued at about $1,585,000. Mader & Shannon Wealth Management Inc. raised its position in HF Sinclair by 28.2% during the 1st quarter. Mader & Shannon Wealth Management Inc. now owns 67,246 shares of the company's stock worth $2,211,000 after buying an additional 14,777 shares during the last quarter. South Dakota Investment Council raised its position in HF Sinclair by 59.7% during the 1st quarter. South Dakota Investment Council now owns 401,143 shares of the company's stock worth $13,190,000 after buying an additional 149,995 shares during the last quarter. Buckhead Capital Management LLC raised its position in HF Sinclair by 6.3% during the 1st quarter. Buckhead Capital Management LLC now owns 71,558 shares of the company's stock worth $2,353,000 after buying an additional 4,237 shares during the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in HF Sinclair during the 1st quarter worth $274,000. Hedge funds and other institutional investors own 88.29% of the company's stock.

HF Sinclair Price Performance

Shares of NYSE DINO traded down $0.61 during midday trading on Tuesday, reaching $44.38. The company's stock had a trading volume of 357,048 shares, compared to its average volume of 2,959,146. The company has a market cap of $8.36 billion, a price-to-earnings ratio of -57.66 and a beta of 0.93. HF Sinclair Corporation has a one year low of $24.66 and a one year high of $52.88. The company has a 50 day moving average price of $40.68 and a 200 day moving average price of $36.00. The company has a current ratio of 1.87, a quick ratio of 0.76 and a debt-to-equity ratio of 0.29.

HF Sinclair (NYSE:DINO - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.41) by $0.14. The business had revenue of $6.37 billion for the quarter, compared to analyst estimates of $6.72 billion. HF Sinclair had a negative net margin of 0.51% and a positive return on equity of 0.05%. The firm's revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, equities research analysts expect that HF Sinclair Corporation will post 2.39 EPS for the current year.

HF Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.51%. The ex-dividend date was Thursday, May 15th. HF Sinclair's payout ratio is currently -259.74%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DINO. Raymond James Financial raised HF Sinclair from a "market perform" rating to a "strong-buy" rating and set a $54.00 price objective for the company in a research note on Tuesday, July 15th. Piper Sandler downgraded HF Sinclair from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $53.00 to $51.00 in a research report on Tuesday, July 22nd. Mizuho upgraded HF Sinclair from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $40.00 to $47.00 in a research report on Tuesday, May 13th. Barclays lifted their price target on HF Sinclair from $32.00 to $43.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Finally, TD Cowen boosted their target price on shares of HF Sinclair from $27.00 to $29.00 and gave the company a "hold" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.27.

HF Sinclair Company 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.