Pacific Heights Asset Management LLC Invests $31.34 Million in HF Sinclair Corporation $DINO

Key Points

• Pacific Heights Asset Management acquired 450,000 HF Sinclair shares valued at approximately $31.34 million, representing 0.25% of the company and 1% of the firm’s portfolio. Institutional investors collectively own 88.29% of DINO.
• HF Sinclair reported quarterly EPS of $5.31, exceeding estimates of $4.49, while revenue rose 53.2% year over year to $10.39 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $81.25.
• The company increased its quarterly dividend from $0.50 to $0.525 per share, or $2.10 annualized, representing a 2.2% yield and a 20.04% payout ratio.

Pacific Heights Asset Management LLC acquired a new position in HF Sinclair Corporation (NYSE:DINO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 450,000 shares of the company's stock, valued at approximately $31,342,000. HF Sinclair makes up 1.0% of Pacific Heights Asset Management LLC's holdings, making the stock its 29th largest holding. Pacific Heights Asset Management LLC owned 0.25% of HF Sinclair as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of HF Sinclair in the 2nd quarter valued at about $1,291,602,000. Bank of New York Mellon Corp bought a new stake in shares of HF Sinclair during the 2nd quarter valued at about $140,654,000. NFJ Investment Group LLC grew its holdings in shares of HF Sinclair by 1,275.3% during the fourth quarter. NFJ Investment Group LLC now owns 1,873,541 shares of the company's stock worth $86,333,000 after purchasing an additional 1,737,318 shares in the last quarter. Bank of America Corp DE bought a new position in shares of HF Sinclair in the second quarter worth approximately $89,846,000. Finally, Invesco Ltd. increased its position in shares of HF Sinclair by 104.3% in the third quarter. Invesco Ltd. now owns 1,947,075 shares of the company's stock worth $101,910,000 after purchasing an additional 994,090 shares during the last quarter. 88.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DINO has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a "buy" rating and set a $114.00 target price on shares of HF Sinclair in a research report on Wednesday, July 29th. Mizuho increased their price target on shares of HF Sinclair from $79.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Morgan Stanley raised their price objective on shares of HF Sinclair from $69.00 to $78.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Wall Street Zen raised shares of HF Sinclair from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Finally, Barclays upped their target price on shares of HF Sinclair from $81.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, HF Sinclair has an average rating of "Moderate Buy" and an average target price of $81.25.

HF Sinclair Stock Performance

NYSE:DINO opened at $97.23 on Friday. The business has a 50 day moving average of $83.85 and a 200 day moving average of $69.89. The company has a market capitalization of $17.29 billion, a price-to-earnings ratio of 9.28 and a beta of 0.70. HF Sinclair Corporation has a 1-year low of $45.71 and a 1-year high of $98.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.97 and a quick ratio of 1.10.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $5.31 EPS for the quarter, beating analysts' consensus estimates of $4.49 by $0.82. The business had revenue of $10.39 billion for the quarter, compared to analysts' expectations of $8.68 billion. HF Sinclair had a net margin of 6.13% and a return on equity of 18.21%. The business's quarterly revenue was up 53.2% on a year-over-year basis. During the same period last year, the business earned $1.10 earnings per share. On average, sell-side analysts predict that HF Sinclair Corporation will post 11.85 earnings per share for the current fiscal year.

HF Sinclair Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 11th will be paid a $0.525 dividend. This is a positive change from HF Sinclair's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.2%. HF Sinclair's dividend payout ratio is currently 20.04%.

Insider Activity at HF Sinclair

In other HF Sinclair news, Director Rhoman J. Hardy bought 1,508 shares of HF Sinclair stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average price of $66.32 per share, with a total value of $100,010.56. Following the acquisition, the director owned 15,037 shares in the company, valued at approximately $997,253.84. This trade represents a 11.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dale Kunneman sold 8,936 shares of HF Sinclair 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 completion of the transaction, the senior vice president owned 42,561 shares in the company, valued at approximately $3,599,809.38. The trade was a 17.35% decrease in their position. The SEC filing for this sale provides additional information. 0.26% of the stock is owned by insiders.

HF Sinclair Company Profile

HF Sinclair Corporation is a diversified energy manufacturing company engaged in the refining, marketing, and transportation of petroleum products across the United States. The company operates a network of refineries and processing facilities that convert crude oil and other feedstocks into fuels and specialty products. Its integrated model encompasses upstream supply agreements, midstream logistics, and downstream marketing channels, positioning HF Sinclair as a key supplier of refined products to wholesale and retail markets.

The company’s core product slate includes gasoline, diesel, jet fuel, and renewable fuels such as renewable diesel and biodiesel.

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