VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Stake in HF Sinclair Corporation $DINO

Key Points

• Virginia Retirement Systems acquired a new stake in HF Sinclair Corporation, purchasing 310,500 shares valued at approximately $12.76 million, which represents about 0.16% ownership of the company.
• HF Sinclair reported a beat on earnings per share with $1.70 for the quarter, significantly exceeding analysts' estimates of $1.09, but its revenue dipped 13.5% year-over-year.
• The company recently announced a quarterly dividend of $0.50, leading to an annualized yield of 3.9%, despite a negative dividend payout ratio of -434.78%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in HF Sinclair Corporation (NYSE:DINO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 310,500 shares of the company's stock, valued at approximately $12,755,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.16% of HF Sinclair as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kiker Wealth Management LLC acquired a new stake in HF Sinclair during the second quarter worth $32,000. West Oak Capital LLC acquired a new stake in HF Sinclair during the second quarter worth $38,000. Hilltop National Bank acquired a new stake in HF Sinclair during the second quarter worth $46,000. Allworth Financial LP increased its stake in HF Sinclair by 553.9% during the first quarter. Allworth Financial LP now owns 1,334 shares of the company's stock worth $41,000 after acquiring an additional 1,130 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in HF Sinclair by 21.4% during the second quarter. IFP Advisors Inc now owns 1,694 shares of the company's stock worth $71,000 after acquiring an additional 299 shares during the last quarter. Institutional investors and hedge funds own 88.29% of the company's stock.

Insider Transactions at HF Sinclair

In related news, EVP Valerie Pompa sold 11,000 shares of HF Sinclair stock in a transaction on Friday, August 1st. The stock was sold at an average price of $42.53, for a total value of $467,830.00. Following the completion of the transaction, the executive vice president directly owned 39,591 shares in the company, valued at approximately $1,683,805.23. This trade represents a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.34% of the company's stock.

HF Sinclair Trading Up 2.4%

NYSE:DINO opened at $51.83 on Monday. The firm has a market cap of $9.70 billion, a PE ratio of -112.67 and a beta of 1.00. The stock has a fifty day moving average price of $50.50 and a 200 day moving average price of $41.97. HF Sinclair Corporation has a 12-month low of $24.66 and a 12-month 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.

HF Sinclair (NYSE:DINO - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.61. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.93 billion. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%.HF Sinclair's revenue was down 13.5% compared to the same quarter last year. During the same period last year, the business posted $0.78 earnings per share. Sell-side analysts anticipate 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. Investors of record on Thursday, August 21st were issued 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 -434.78%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group raised their target price on HF Sinclair from $58.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. The Goldman Sachs Group raised their price target on HF Sinclair from $54.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Wolfe Research lowered HF Sinclair from a "peer perform" rating to an "underperform" rating in a research report on Monday, July 14th. Wall Street Zen upgraded HF Sinclair from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Piper Sandler raised their price target on HF Sinclair from $51.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Two investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, HF Sinclair currently has an average rating of "Moderate Buy" and a consensus price target of $58.36.

HF Sinclair Company 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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