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

HITE Hedge Asset Management LLC boosted its stake in HF Sinclair Corporation (NYSE:DINO) by 128.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,671 shares of the company’s stock after acquiring an additional 103,869 shares during the period. HITE Hedge Asset Management LLC’s holdings in HF Sinclair were worth $9,666,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Encompass Capital Advisors LLC bought a new position in HF Sinclair in the 2nd quarter worth $70,437,000. Invesco Ltd. boosted its stake in shares of HF Sinclair by 104.3% during the 3rd quarter. Invesco Ltd. now owns 1,947,075 shares of the company’s stock valued at $101,910,000 after purchasing an additional 994,090 shares in the last quarter. Engineers Gate Manager LP increased its position in shares of HF Sinclair by 1,068.6% during the second quarter. Engineers Gate Manager LP now owns 786,606 shares of the company’s stock valued at $32,314,000 after buying an additional 719,292 shares during the period. Norges Bank purchased a new position in shares of HF Sinclair during the second quarter valued at about $25,531,000. Finally, Dimensional Fund Advisors LP raised its stake in HF Sinclair by 6.4% in the third quarter. Dimensional Fund Advisors LP now owns 9,259,238 shares of the company’s stock worth $484,631,000 after buying an additional 560,194 shares in the last quarter. 88.29% of the stock is owned by hedge funds and other institutional investors.

HF Sinclair Trading Up 1.6%

NYSE:DINO opened at $57.30 on Friday. The firm has a market capitalization of $10.33 billion, a P/E ratio of 18.66 and a beta of 0.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.90. HF Sinclair Corporation has a one year low of $24.66 and a one year high of $59.33. The company’s 50-day simple moving average is $52.54 and its 200 day simple moving average is $51.86.

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

HF Sinclair Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have commented on DINO. BMO Capital Markets lowered their price objective on shares of HF Sinclair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, February 23rd. Wall Street Zen lowered HF Sinclair from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 19th. Mizuho raised their target price on HF Sinclair from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Argus upgraded HF Sinclair to a “hold” rating in a research note on Tuesday, February 24th. Finally, Morgan Stanley set a $57.00 price target on HF Sinclair in a research report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $58.73.

About HF Sinclair

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.