Pacific Heights Asset Management LLC Has $12.32 Million Stock Position in HF Sinclair Corporation $DINO

Key Points

• Pacific Heights Asset Management LLC increased its stake in HF Sinclair Corporation by 25% during the second quarter, owning a total of 300,000 shares valued at approximately $12.32 million.
• HF Sinclair announced a quarterly dividend of $0.50, reflecting an annualized dividend of $2.00 with a yield of 3.9%.
• The company reported $1.70 earnings per share for the last quarter, exceeding analysts' expectations by $0.61, despite experiencing a 13.5% decline in revenues year-over-year.

Pacific Heights Asset Management LLC lifted its holdings in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 25.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,000 shares of the company's stock after purchasing an additional 60,000 shares during the quarter. Pacific Heights Asset Management LLC owned 0.16% of HF Sinclair worth $12,324,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DINO. GAMMA Investing LLC increased its holdings in shares of HF Sinclair by 152.4% during the first quarter. GAMMA Investing LLC now owns 4,467 shares of the company's stock worth $147,000 after purchasing an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of HF Sinclair by 72.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 51,230 shares of the company's stock worth $1,684,000 after purchasing an additional 21,597 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of HF Sinclair by 1,265.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,554 shares of the company's stock worth $84,000 after purchasing an additional 2,367 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of HF Sinclair by 28.5% during the first quarter. Janney Montgomery Scott LLC now owns 88,448 shares of the company's stock worth $2,908,000 after purchasing an additional 19,641 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of HF Sinclair by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 21,621 shares of the company's stock worth $710,000 after purchasing an additional 505 shares during the period. 88.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other HF Sinclair news, EVP Valerie Pompa sold 11,000 shares of the firm's 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 sale, the executive vice president owned 39,591 shares in the company, valued at $1,683,805.23. This trade represents a 21.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.28% of the stock is owned by corporate insiders.

HF Sinclair Stock Performance

NYSE DINO opened at $51.07 on Wednesday. HF Sinclair Corporation has a 1 year low of $24.66 and a 1 year high of $54.73. The company has a current ratio of 1.82, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of -111.02 and a beta of 1.00. The firm's 50 day simple moving average is $50.82 and its 200 day simple moving average is $42.21.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its earnings results 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. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.89%. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business posted $0.78 earnings per share. The company's quarterly revenue was down 13.5% on a year-over-year basis. As a group, research analysts expect that HF Sinclair Corporation will post 2.39 earnings per share for the current fiscal year.

HF Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a $0.50 dividend. The ex-dividend date was Thursday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.9%. HF Sinclair's dividend payout ratio (DPR) is currently -434.78%.

Analyst Upgrades and Downgrades

DINO has been the topic of several recent research reports. Wall Street Zen raised shares of HF Sinclair from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Morgan Stanley raised their target price on shares of HF Sinclair from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, October 3rd. Piper Sandler raised their target price on shares of HF Sinclair from $51.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, September 11th. Weiss Ratings reiterated a "hold (c-)" rating on shares of HF Sinclair in a research report on Wednesday, October 8th. Finally, TD Cowen increased their price target on shares of HF Sinclair from $45.00 to $46.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $58.36.

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.

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