Oppenheimer & Co. Inc. Sells 12,800 Shares of HF Sinclair Corporation $DINO

Key Points

• Oppenheimer & Co. reduced its HF Sinclair stake by 41.8% in the third quarter, selling 12,800 shares and retaining 17,841 shares valued at approximately $1.92 million. Hedge funds and institutional investors collectively own 88.29% of DINO.
• Analysts maintain a generally positive outlook, with HF Sinclair receiving a consensus “Moderate Buy” rating and an average price target of $115.75; several firms recently raised their targets.
• HF Sinclair reported quarterly EPS of $11.75, well above the $7.83 consensus estimate, while revenue rose 49.7% year over year to $10.86 billion. The company also declared a quarterly dividend of $0.525 per share, representing a 1.8% yield.

Oppenheimer & Co. Inc. trimmed its holdings in HF Sinclair Corporation (NYSE:DINO - Free Report) by 41.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,841 shares of the company's stock after selling 12,800 shares during the period. Oppenheimer & Co. Inc.'s holdings in HF Sinclair were worth $1,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in DINO. Reyes Financial Architecture Inc. acquired a new position in HF Sinclair during the third quarter worth about $29,000. Bullock Wealth Management Group acquired a new stake in shares of HF Sinclair in the third quarter valued at approximately $41,000. Clearstead Trust LLC acquired a new stake in shares of HF Sinclair in the second quarter valued at approximately $33,000. Fortitude Family Office LLC increased its stake in shares of HF Sinclair by 112.6% during the 3rd quarter. Fortitude Family Office LLC now owns 674 shares of the company's stock worth $72,000 after purchasing an additional 357 shares in the last quarter. Finally, Main Street Group LTD purchased a new position in shares of HF Sinclair during the 1st quarter worth approximately $54,000. 88.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on HF Sinclair from $114.00 to $142.00 and gave the company a "buy" rating in a research note on Friday, October 9th. Barclays raised their price target on HF Sinclair from $86.00 to $122.00 and gave the stock an "equal weight" rating in a research report on Monday, October 12th. Morgan Stanley boosted their price target on HF Sinclair from $78.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, September 14th. Weiss Ratings upgraded HF Sinclair from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Finally, Mizuho upped their price objective on HF Sinclair from $85.00 to $119.00 and gave the company a "neutral" rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, HF Sinclair presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.75.

HF Sinclair Stock Performance

Shares of NYSE DINO opened at $115.01 on Friday. The company has a 50-day simple moving average of $111.90 and a 200-day simple moving average of $78.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.27 and a quick ratio of 1.10. The company has a market cap of $19.71 billion, a PE ratio of 5.84 and a beta of 0.72. HF Sinclair Corporation has a 12 month low of $45.71 and a 12 month high of $129.37.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $11.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.83 by $3.92. HF Sinclair had a net margin of 10.12% and a return on equity of 32.95%. The business had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. The company's quarterly revenue was up 49.7% compared to the same quarter last year. On average, equities analysts anticipate that HF Sinclair Corporation will post 21.09 earnings per share for the current year.

HF Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Thursday, November 12th will be issued a $0.5250 dividend. The ex-dividend date is Thursday, November 12th. This represents a $2.10 annualized dividend and a yield of 1.8%. HF Sinclair's payout ratio is 10.65%.

Insiders Place Their Bets

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

About HF Sinclair

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.

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