iA Global Asset Management Inc. Reduces Stock Position in HF Sinclair Co. (NYSE:DINO)

iA Global Asset Management Inc. cut its stake in HF Sinclair Co. (NYSE:DINO) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,540 shares of the company’s stock after selling 301 shares during the period. iA Global Asset Management Inc.’s holdings in HF Sinclair were worth $274,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of HF Sinclair by 9.3% during the 4th quarter. Vanguard Group Inc. now owns 18,214,568 shares of the company’s stock worth $1,012,184,000 after purchasing an additional 1,549,091 shares in the last quarter. Norges Bank purchased a new position in shares of HF Sinclair during the 4th quarter worth approximately $65,774,000. Janus Henderson Group PLC increased its stake in shares of HF Sinclair by 15,066.7% during the 1st quarter. Janus Henderson Group PLC now owns 665,365 shares of the company’s stock worth $40,168,000 after purchasing an additional 660,978 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in HF Sinclair by 261.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 436,739 shares of the company’s stock worth $26,366,000 after acquiring an additional 315,783 shares during the period. Finally, KBC Group NV grew its stake in HF Sinclair by 537.0% in the 4th quarter. KBC Group NV now owns 357,929 shares of the company’s stock worth $19,890,000 after acquiring an additional 301,742 shares during the period. 88.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on DINO. Barclays lowered their target price on shares of HF Sinclair from $56.00 to $51.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Piper Sandler lowered their target price on shares of HF Sinclair from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. JPMorgan Chase & Co. lowered their target price on shares of HF Sinclair from $61.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Scotiabank lifted their price target on shares of HF Sinclair from $58.00 to $66.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, Wolfe Research began coverage on shares of HF Sinclair in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.58.

Insider Buying and Selling

In other news, Director Franklin Myers purchased 6,500 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average price of $57.37 per share, with a total value of $372,905.00. Following the purchase, the director now directly owns 138,293 shares of the company’s stock, valued at approximately $7,933,869.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.28% of the stock is currently owned by insiders.

HF Sinclair Stock Down 5.8 %

Shares of NYSE:DINO traded down $2.92 during midday trading on Friday, hitting $47.14. 1,082,339 shares of the company’s stock traded hands, compared to its average volume of 1,971,983. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.09 and a current ratio of 2.17. The company has a market cap of $9.06 billion, a PE ratio of 5.81 and a beta of 1.19. The firm’s fifty day moving average price is $51.81 and its two-hundred day moving average price is $55.59. HF Sinclair Co. has a twelve month low of $46.92 and a twelve month high of $64.16.

HF Sinclair (NYSE:DINO) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. HF Sinclair had a net margin of 4.94% and a return on equity of 15.10%. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the firm posted $2.60 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts anticipate that HF Sinclair Co. will post 3.85 EPS for the current fiscal year.

HF Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Wednesday, August 21st. HF Sinclair’s dividend payout ratio (DPR) is 24.75%.

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.