Summit Street Capital Management LLC Invests $18.32 Million in HF Sinclair Corporation $DINO

Key Points

• Summit Street Capital Management acquired 263,017 HF Sinclair shares worth approximately $18.32 million, representing about 2.6% of its portfolio and 0.15% of HF Sinclair’s outstanding stock.
• HF Sinclair reported quarterly EPS of $5.31, beating 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 raised its quarterly dividend from $0.50 to $0.525 per share, implying an annualized dividend of $2.10 and a 2.2% yield; shares opened at $96.77, near their 52-week high.

Summit Street Capital Management LLC bought a new position in HF Sinclair Corporation (NYSE:DINO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 263,017 shares of the company's stock, valued at approximately $18,319,000. HF Sinclair accounts for approximately 2.6% of Summit Street Capital Management LLC's holdings, making the stock its 21st biggest position. Summit Street Capital Management LLC owned about 0.15% of HF Sinclair as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DINO. Virtus Investment Advisers LLC raised its holdings in shares of HF Sinclair by 5.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 3,489 shares of the company's stock worth $161,000 after purchasing an additional 195 shares during the period. D.A. Davidson & CO. lifted its stake in shares of HF Sinclair by 3.8% in the 4th quarter. D.A. Davidson & CO. now owns 5,791 shares of the company's stock valued at $267,000 after purchasing an additional 210 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of HF Sinclair by 4.9% during the 4th quarter. Parallel Advisors LLC now owns 4,769 shares of the company's stock worth $220,000 after purchasing an additional 221 shares during the period. Blue Trust Inc. grew its holdings in shares of HF Sinclair by 4.7% during the 1st quarter. Blue Trust Inc. now owns 5,109 shares of the company's stock worth $319,000 after purchasing an additional 228 shares during the period. Finally, Unison Advisors LLC raised its holdings in HF Sinclair by 1.0% in the first quarter. Unison Advisors LLC now owns 23,549 shares of the company's stock valued at $1,469,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 88.29% of the company's stock.

Insider Buying and Selling at HF Sinclair

In other news, Director Manuel J. Fernandez sold 635 shares of HF Sinclair stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $73.09, for a total transaction of $46,412.15. Following the sale, the director directly owned 16,543 shares of the company's stock, valued at approximately $1,209,127.87. The trade was a 3.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rhoman J. Hardy purchased 1,508 shares of HF Sinclair stock in a transaction that occurred on Tuesday, June 16th. The stock was acquired at an average cost of $66.32 per share, with a total value of $100,010.56. Following the acquisition, the director directly owned 15,037 shares of the company's stock, valued at $997,253.84. The trade was a 11.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $114.00 price target on shares of HF Sinclair in a research report on Wednesday, July 29th. TD Cowen increased their price objective on shares of HF Sinclair from $79.00 to $98.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. Raymond James Financial set a $105.00 target price on shares of HF Sinclair in a report on Wednesday, July 29th. Morgan Stanley upped their price target on shares of HF Sinclair from $69.00 to $78.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Finally, Weiss Ratings upgraded HF Sinclair from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Two investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, HF Sinclair has a consensus rating of "Moderate Buy" and an average price target of $81.25.

HF Sinclair Stock Up 3.8%

NYSE DINO opened at $96.77 on Thursday. 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 fifty-two week low of $45.71 and a fifty-two week high of $98.39. The business has a 50 day moving average price of $83.19 and a two-hundred day moving average price of $69.62. The stock has a market cap of $17.20 billion, a PE ratio of 9.23 and a beta of 0.70.

HF Sinclair (NYSE:DINO - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $5.31 EPS for the quarter, topping 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 revenue for the quarter was up 53.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 earnings per share. As a group, sell-side analysts predict that HF Sinclair Corporation will post 11.85 EPS for the current fiscal year.

HF Sinclair Increases Dividend

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

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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