HITE Hedge Asset Management LLC Acquires 35,001 Shares of HF Sinclair Corporation $DINO

HITE Hedge Asset Management LLC grew its holdings in HF Sinclair Corporation (NYSE:DINO) by 19.0% in the fourth quarter, HoldingsChannel reports. The fund owned 219,672 shares of the company’s stock after buying an additional 35,001 shares during the period. HITE Hedge Asset Management LLC’s holdings in HF Sinclair were worth $10,122,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of DINO. V Square Quantitative Management LLC bought a new stake in shares of HF Sinclair in the fourth quarter valued at about $26,000. REAP Financial Group LLC bought a new stake in shares of HF Sinclair in the fourth quarter valued at about $29,000. State of Wyoming bought a new stake in shares of HF Sinclair in the second quarter valued at about $41,000. IFC & Insurance Marketing Inc. bought a new stake in shares of HF Sinclair in the fourth quarter valued at about $43,000. Finally, Torren Management LLC bought a new stake in shares of HF Sinclair in the fourth quarter valued at about $55,000. Institutional investors own 88.29% of the company’s stock.

HF Sinclair Trading Up 1.5%

DINO opened at $70.93 on Friday. HF Sinclair Corporation has a twelve month low of $38.11 and a twelve month high of $74.72. The company has a 50-day simple moving average of $66.27 and a 200 day simple moving average of $57.42. The company has a quick ratio of 0.88, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $12.79 billion, a price-to-earnings ratio of 10.67 and a beta of 0.72.

HF Sinclair (NYSE:DINO) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.75. HF Sinclair had a net margin of 4.46% and a return on equity of 11.94%. The business had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the prior year, the business posted ($0.27) earnings per share. HF Sinclair’s revenue was up 11.8% compared to the same quarter last year. Analysts predict that HF Sinclair Corporation will post 8.98 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 11th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.00 annualized dividend and a yield of 2.8%. HF Sinclair’s dividend payout ratio is currently 30.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their target price on shares of HF Sinclair from $69.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday. BMO Capital Markets reduced their target price on shares of HF Sinclair from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, February 23rd. UBS Group boosted their target price on shares of HF Sinclair from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Piper Sandler reduced their target price on shares of HF Sinclair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, TD Cowen upped their price objective on shares of HF Sinclair from $68.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, HF Sinclair currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.64.

Insider Activity

In related news, Director Manuel J. Fernandez sold 635 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $73.09, for a total transaction of $46,412.15. Following the completion of the sale, the director owned 16,543 shares of the company’s stock, valued at $1,209,127.87. This represents a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vivek Garg sold 717 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $71.89, for a total transaction of $51,545.13. Following the sale, the chief financial officer directly owned 11,475 shares of the company’s stock, valued at $824,937.75. This represents a 5.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 13,736 shares of company stock worth $954,694. 0.26% of the stock is owned by company insiders.

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.