Oakmont Investment Advisors Inc. Acquires New Stake in HF Sinclair Corporation $DINO

Key Points

• Oakmont Investment Advisors acquired 9,185 HF Sinclair shares in the third quarter, valued at approximately $986,000. Institutional investors collectively own 88.29% of the company.
• HF Sinclair reported strong quarterly results, with earnings per share of $5.31 exceeding estimates of $4.49 and revenue rising 53.2% year over year to $10.39 billion.
• The company increased its quarterly dividend to $0.525 per share, or $2.10 annually, representing a 1.7% yield. Analysts hold a “Moderate Buy” consensus rating, with an average price target of $106.50.

Oakmont Investment Advisors Inc. bought a new stake in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,185 shares of the company's stock, valued at approximately $986,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of HF Sinclair in the second quarter worth $1,291,602,000. Bank of New York Mellon Corp purchased a new position in shares of HF Sinclair during the second quarter valued at $140,654,000. NFJ Investment Group LLC purchased a new position in shares of HF Sinclair during the second quarter valued at $97,422,000. Bank of America Corp DE acquired a new position in HF Sinclair during the second quarter valued at $89,846,000. Finally, First Trust Advisors LP raised its position in HF Sinclair by 161.5% during the first quarter. First Trust Advisors LP now owns 1,037,059 shares of the company's stock valued at $64,702,000 after buying an additional 640,455 shares during the period. Hedge funds and other institutional investors own 88.29% of the company's stock.

Insider Buying and Selling

In other HF Sinclair news, SVP Dale Kunneman sold 8,936 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $84.58, for a total value of $755,806.88. Following the transaction, the senior vice president owned 42,561 shares in the company, valued at $3,599,809.38. The trade was a 17.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

HF Sinclair Trading Up 0.3%

Shares of NYSE:DINO opened at $125.67 on Thursday. The firm has a fifty day moving average of $108.84 and a two-hundred day moving average of $85.27. The company has a quick ratio of 1.10, a current ratio of 1.97 and a debt-to-equity ratio of 0.27. HF Sinclair Corporation has a 12-month low of $45.71 and a 12-month high of $129.37. The firm has a market capitalization of $22.34 billion, a P/E ratio of 11.99 and a beta of 0.72.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share for the quarter, topping analysts' consensus estimates of $4.49 by $0.82. HF Sinclair had a net margin of 6.13% and a return on equity of 18.21%. The business had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $8.68 billion. During the same period in the prior year, the business posted $1.10 earnings per share. HF Sinclair's revenue for the quarter was up 53.2% compared to the same quarter last year. On average, equities analysts expect that HF Sinclair Corporation will post 18.65 EPS for the current fiscal year.

HF Sinclair Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Tuesday, August 11th were given a dividend of $0.5250 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This is a positive change from HF Sinclair's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 1.7%. HF Sinclair's payout ratio is 20.04%.

Wall Street Analyst Weigh In

DINO has been the subject of a number of research reports. UBS Group raised their price objective on HF Sinclair from $126.00 to $133.00 and gave the stock a "buy" rating in a research report on Saturday, October 3rd. Barclays lifted their target price on HF Sinclair from $86.00 to $122.00 and gave the company an "equal weight" rating in a research note on Monday, October 12th. Zacks Research upgraded HF Sinclair from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Morgan Stanley upped their target price on HF Sinclair from $78.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, September 14th. Finally, Wells Fargo & Company increased their price target on shares of HF Sinclair from $93.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, HF Sinclair has an average rating of "Moderate Buy" and a consensus price target of $106.50.

HF Sinclair Profile

HF Sinclair Corporation NYSE: DINO is an independent energy company engaged in refining, marketing and distributing petroleum products. The company operates refineries that process crude oil into gasoline, diesel, jet fuel, asphalt, lubricants and other specialty products. Its portfolio also includes renewable fuels activities and the production and marketing of base oils and other petroleum-based products.

HF Sinclair markets fuel under the Sinclair brand and supplies products to commercial customers, independent retailers and other wholesale and retail channels.

Want to see what other hedge funds are holding DINO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HF Sinclair Corporation (NYSE:DINO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.