HITE Hedge Asset Management LLC Boosts Holdings in HF Sinclair Corporation $DINO

HITE Hedge Asset Management LLC lifted its holdings in HF Sinclair Corporation (NYSE:DINO) by 128.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 184,671 shares of the company’s stock after acquiring an additional 103,869 shares during the quarter. HITE Hedge Asset Management LLC owned 0.10% of HF Sinclair worth $9,666,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DINO. Quent Capital LLC bought a new position in shares of HF Sinclair during the 3rd quarter valued at $28,000. Johnson Financial Group Inc. bought a new stake in HF Sinclair in the second quarter worth $33,000. State of Wyoming purchased a new stake in HF Sinclair during the second quarter valued at about $41,000. CI Investments Inc. boosted its position in HF Sinclair by 20.0% during the third quarter. CI Investments Inc. now owns 1,121 shares of the company’s stock valued at $59,000 after buying an additional 187 shares during the period. Finally, Delos Wealth Advisors LLC bought a new position in shares of HF Sinclair during the second quarter valued at about $70,000. Hedge funds and other institutional investors own 88.29% of the company’s stock.

HF Sinclair Stock Performance

Shares of NYSE:DINO opened at $57.30 on Friday. The company has a current ratio of 1.94, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $52.54 and a 200-day moving average price of $51.86. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 18.66 and a beta of 0.83. HF Sinclair Corporation has a 12 month low of $24.66 and a 12 month high of $59.33.

HF Sinclair (NYSE:DINO) last posted its earnings results on Wednesday, February 18th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.37. HF Sinclair had a return on equity of 10.20% and a net margin of 2.15%.The company had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period last year, the firm earned ($1.02) earnings per share. HF Sinclair’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts anticipate that HF Sinclair Corporation will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, March 2nd. HF Sinclair’s dividend payout ratio (DPR) is currently 65.15%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho lifted their price objective on HF Sinclair from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Barclays dropped their target price on HF Sinclair from $54.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. BMO Capital Markets decreased their price target on HF Sinclair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. Wall Street Zen downgraded HF Sinclair from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 19th. Finally, Piper Sandler dropped their price objective on HF Sinclair from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.73.

HF Sinclair 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.