Northern Trust Corp Reduces Stake in HF Sinclair Corporation $DINO

Key Points

• Northern Trust Corp has decreased its stake in HF Sinclair Corporation by 20.9%, owning approximately 0.72% of the company after selling 361,366 shares in Q1.
• HF Sinclair's stock has received mixed ratings from analysts, with a current consensus rating of "Moderate Buy" and a price target of $50.55.
• The company recently announced a quarterly dividend of $0.50 per share, translating to an annualized yield of 4.0%.

Northern Trust Corp reduced its position in HF Sinclair Corporation (NYSE:DINO - Free Report) by 20.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,364,313 shares of the company's stock after selling 361,366 shares during the period. Northern Trust Corp owned approximately 0.72% of HF Sinclair worth $44,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of HF Sinclair by 19.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,185,509 shares of the company's stock worth $269,142,000 after buying an additional 1,337,093 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in HF Sinclair by 7.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,927,257 shares of the company's stock worth $194,888,000 after acquiring an additional 415,206 shares during the period. Southeastern Asset Management Inc. TN bought a new position in HF Sinclair in the fourth quarter worth approximately $96,344,000. AQR Capital Management LLC raised its position in HF Sinclair by 61.6% in the fourth quarter. AQR Capital Management LLC now owns 2,376,498 shares of the company's stock worth $82,536,000 after acquiring an additional 906,225 shares during the period. Finally, Invesco Ltd. raised its position in HF Sinclair by 46.4% in the first quarter. Invesco Ltd. now owns 1,927,890 shares of the company's stock worth $63,389,000 after acquiring an additional 610,688 shares during the period. 88.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler downgraded shares of HF Sinclair from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $53.00 to $51.00 in a research report on Tuesday, July 22nd. Morgan Stanley increased their price target on shares of HF Sinclair from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded shares of HF Sinclair from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company increased their price target on shares of HF Sinclair from $34.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 11th. Finally, Barclays raised their price objective on shares of HF Sinclair from $32.00 to $43.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.55.

Insiders Place Their Bets

In related news, EVP Valerie Pompa sold 11,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $42.53, for a total transaction of $467,830.00. Following the completion of the transaction, the executive vice president directly owned 39,591 shares of the company's stock, 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 SEC, which is accessible through this link. Insiders own 0.34% of the company's stock.

HF Sinclair Stock Up 2.3%

Shares of DINO stock opened at $50.22 on Thursday. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of -109.17 and a beta of 0.97. HF Sinclair Corporation has a one year low of $24.66 and a one year high of $50.55. The company's fifty day moving average price is $44.19 and its 200-day moving average price is $37.32. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.82 and a quick ratio of 0.83.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.09 by $0.61. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.93 billion. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.89%. The company's revenue was down 13.5% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. Sell-side analysts expect that HF Sinclair Corporation will post 2.39 EPS for the current fiscal year.

HF Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 21st. HF Sinclair's dividend payout ratio (DPR) is presently -434.78%.

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.

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