Michael Jennings Sells 50,000 Shares of HF Sinclair Co. (NYSE:DINO) Stock

HF Sinclair Co. (NYSE:DINO – Get Rating) CEO Michael Jennings sold 50,000 shares of HF Sinclair stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $51.06, for a total transaction of $2,553,000.00. Following the completion of the sale, the chief executive officer now directly owns 182,859 shares in the company, valued at approximately $9,336,780.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

HF Sinclair Stock Down 0.9 %

Shares of NYSE:DINO opened at $49.84 on Friday. HF Sinclair Co. has a 52-week low of $33.04 and a 52-week high of $66.19. The firm has a fifty day moving average of $53.18 and a 200 day moving average of $55.00. The firm has a market capitalization of $9.78 billion, a PE ratio of 3.64, a price-to-earnings-growth ratio of 0.56 and a beta of 1.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.09 and a current ratio of 2.08.

HF Sinclair (NYSE:DINO – Get Rating) last announced its earnings results on Friday, February 24th. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.62). HF Sinclair had a return on equity of 31.28% and a net margin of 7.65%. The company had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter last year, the firm posted ($0.11) earnings per share. The firm’s revenue was up 59.8% on a year-over-year basis. As a group, research analysts anticipate that HF Sinclair Co. will post 8.68 EPS for the current fiscal year.

HF Sinclair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Tuesday, March 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.61%. This is a positive change from HF Sinclair’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 6th. HF Sinclair’s dividend payout ratio is presently 13.14%.

Analyst Ratings Changes

DINO has been the topic of a number of research reports. TD Cowen cut shares of HF Sinclair from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $58.00 to $52.00 in a report on Thursday, March 2nd. Mizuho raised shares of HF Sinclair from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $68.00 in a report on Tuesday, January 10th. Piper Sandler lowered their target price on shares of HF Sinclair from $86.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Cowen boosted their target price on shares of HF Sinclair to $68.00 in a report on Tuesday, November 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of HF Sinclair from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, January 9th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.08.

Institutional Trading of HF Sinclair

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in HF Sinclair by 4.0% during the third quarter. Vanguard Group Inc. now owns 14,799,193 shares of the company’s stock valued at $796,789,000 after buying an additional 571,178 shares during the period. BlackRock Inc. bought a new position in shares of HF Sinclair during the first quarter valued at about $539,533,000. State Street Corp bought a new position in shares of HF Sinclair during the first quarter valued at about $308,240,000. Dimensional Fund Advisors LP raised its stake in shares of HF Sinclair by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 6,789,852 shares of the company’s stock valued at $365,562,000 after acquiring an additional 355,658 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of HF Sinclair by 99.4% during the fourth quarter. First Trust Advisors LP now owns 2,737,944 shares of the company’s stock valued at $142,072,000 after acquiring an additional 1,364,601 shares during the last quarter. 87.69% of the stock is currently owned by hedge funds and other institutional investors.

About HF Sinclair

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HF Sinclair Corp. is an independent energy company. It manufactures and sells products such as gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, and specialty and modified asphalt. The company operates through five segments: Refining, Marketing, Renewables, Lubricants and Specialty Products, and Midstream.