Mitsubishi UFJ Asset Management Co. Ltd. Trims Position in HF Sinclair Corporation $DINO

Key Points

• Mitsubishi UFJ Asset Management significantly reduced its stake in HF Sinclair Corporation by 96.4%, leaving it with 4,884 shares valued at approximately $161,000.
• Analysts have mixed opinions on HF Sinclair, with a consensus rating of "Moderate Buy" and an average target price of $49.91 amidst several upgrades and downgrades from different research firms.
• The company reported earnings of $1.70 per share, exceeding estimates, but its revenue decreased by 13.5% year-over-year, indicating potential volatility in its financial performance.

Mitsubishi UFJ Asset Management Co. Ltd. lessened its holdings in HF Sinclair Corporation (NYSE:DINO - Free Report) by 96.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,884 shares of the company's stock after selling 130,430 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in HF Sinclair were worth $161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of DINO. Southeastern Asset Management Inc. TN purchased a new stake in HF Sinclair in the fourth quarter worth about $96,344,000. Balyasny Asset Management L.P. grew its holdings in shares of HF Sinclair by 645.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,840,955 shares of the company's stock valued at $64,525,000 after buying an additional 1,593,875 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of HF Sinclair by 53.7% during the fourth quarter. First Trust Advisors LP now owns 3,139,092 shares of the company's stock valued at $110,025,000 after buying an additional 1,096,485 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of HF Sinclair by 61.6% during the fourth quarter. AQR Capital Management LLC now owns 2,376,498 shares of the company's stock valued at $82,536,000 after buying an additional 906,225 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of HF Sinclair by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,848,416 shares of the company's stock valued at $240,026,000 after buying an additional 737,696 shares during the last quarter. Hedge funds and other institutional investors own 88.29% of the company's stock.

HF Sinclair Stock Performance

DINO traded up $0.9140 during trading on Tuesday, hitting $45.5540. The company's stock had a trading volume of 485,685 shares, compared to its average volume of 2,903,756. The company has a quick ratio of 0.83, a current ratio of 1.82 and a debt-to-equity ratio of 0.29. HF Sinclair Corporation has a one year low of $24.66 and a one year high of $49.92. The firm has a market cap of $8.52 billion, a PE ratio of -99.04 and a beta of 0.97. The business's 50 day simple moving average is $43.05 and its 200-day simple moving average is $36.79.

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 for the quarter, topping the consensus estimate of $1.09 by $0.61. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.89%. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the firm earned $0.78 earnings per share. The company's quarterly revenue was down 13.5% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a $0.50 dividend. The ex-dividend date is Thursday, August 21st. This represents a $2.00 annualized dividend and a yield of 4.4%. HF Sinclair's dividend payout ratio (DPR) is presently -434.78%.

Analyst Upgrades and Downgrades

DINO has been the topic of a number of recent analyst reports. Raymond James Financial upgraded shares of HF Sinclair from a "market perform" rating to a "strong-buy" rating and set a $54.00 price target on the stock in a report on Tuesday, July 15th. Piper Sandler cut shares of HF Sinclair from an "overweight" rating to a "neutral" rating and cut their price target for the company from $53.00 to $51.00 in a report on Tuesday, July 22nd. Scotiabank increased their price target on shares of HF Sinclair from $49.00 to $61.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Wall Street Zen upgraded shares of HF Sinclair from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley increased their price objective on shares of HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, HF Sinclair has a consensus rating of "Moderate Buy" and an average price target of $49.91.

Insiders Place Their Bets

In other HF Sinclair news, EVP Valerie Pompa sold 11,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $1,683,805.23. This trade represents a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.28% of the company's stock.

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.