NorthCrest Asset Manangement LLC Invests $419,000 in HF Sinclair Corporation $DINO

Key Points

• NorthCrest Asset Management LLC acquired a new stake in HF Sinclair Corporation during the 2nd quarter, purchasing 9,492 shares valued at approximately $419,000.
• HF Sinclair's stock received mixed ratings from analysts, with target price updates from firms like Morgan Stanley increasing it to $50, while Wolfe Research downgraded it to "underperform."
• The company announced a quarterly dividend of $0.50, with a current yield of 3.8%, though it reported a significant negative dividend payout ratio of -434.78%.

NorthCrest Asset Manangement LLC bought a new position in HF Sinclair Corporation (NYSE:DINO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,492 shares of the company's stock, valued at approximately $419,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Byrne Asset Management LLC acquired a new stake in shares of HF Sinclair in the first quarter worth $35,000. Allworth Financial LP boosted its position in shares of HF Sinclair by 553.9% in the first quarter. Allworth Financial LP now owns 1,334 shares of the company's stock worth $41,000 after buying an additional 1,130 shares during the period. UMB Bank n.a. boosted its position in 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 purchasing an additional 1,498 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in HF Sinclair by 111.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,031 shares of the company's stock valued at $83,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in 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 purchasing an additional 310 shares during the last quarter. Institutional investors and hedge funds own 88.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DINO shares. Barclays lifted their price objective 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. TD Cowen lifted their price objective 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 cut HF Sinclair from a "peer perform" rating to an "underperform" rating in a research report on Monday, July 14th. Wells Fargo & Company lifted their price objective on HF Sinclair from $34.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 11th. Finally, The Goldman Sachs Group raised their target price on HF Sinclair from $54.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $53.25.

HF Sinclair Price Performance

NYSE DINO traded up $0.32 during trading on Tuesday, reaching $52.73. 791,455 shares of the company traded hands, compared to its average volume of 2,848,343. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.82. The stock's 50 day moving average price is $47.34 and its two-hundred day moving average price is $39.37. The company has a market cap of $9.86 billion, a price-to-earnings ratio of -114.64 and a beta of 1.07. HF Sinclair Corporation has a 1-year low of $24.66 and a 1-year high of $53.89.

HF Sinclair (NYSE:DINO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.61. The company 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 company's quarterly revenue was down 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. As a group, analysts anticipate that HF Sinclair Corporation will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, August 21st. HF Sinclair's payout ratio is presently -434.78%.

Insiders Place Their Bets

In other HF Sinclair 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 transaction of $467,830.00. Following the sale, the executive vice president directly owned 39,591 shares of the company's stock, valued at approximately $1,683,805.23. The trade was a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.