Merit Financial Group LLC Increases Stock Position in HF Sinclair Co. (NYSE:DINO)

Merit Financial Group LLC raised its holdings in HF Sinclair Co. (NYSE:DINO) by 280.4% during the 1st quarter, Holdings Channel reports. The firm owned 28,589 shares of the company’s stock after purchasing an additional 21,074 shares during the quarter. Merit Financial Group LLC’s holdings in HF Sinclair were worth $940,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Southeastern Asset Management Inc. TN acquired a new stake in HF Sinclair during the fourth quarter worth approximately $96,344,000. Balyasny Asset Management L.P. lifted its stake in shares of HF Sinclair by 645.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,840,955 shares of the company’s stock worth $64,525,000 after purchasing an additional 1,593,875 shares during the period. Norges Bank purchased a new position in shares of HF Sinclair during the 4th quarter worth $41,317,000. Thompson Siegel & Walmsley LLC lifted its stake in shares of HF Sinclair by 114.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,114,575 shares of the company’s stock worth $74,116,000 after purchasing an additional 1,126,825 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of HF Sinclair by 53.7% during the 4th quarter. First Trust Advisors LP now owns 3,139,092 shares of the company’s stock worth $110,025,000 after purchasing an additional 1,096,485 shares during the period. Hedge funds and other institutional investors own 88.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DINO shares. Piper Sandler reduced their price target on HF Sinclair from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Barclays increased their price target on HF Sinclair from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Wells Fargo & Company reduced their price target on HF Sinclair from $44.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, May 2nd. Mizuho raised HF Sinclair from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $40.00 to $47.00 in a research note on Tuesday, May 13th. Finally, Morgan Stanley reduced their price target on HF Sinclair from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.30.

HF Sinclair Stock Performance

NYSE:DINO opened at $36.77 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 0.24. The company has a market cap of $6.93 billion, a P/E ratio of 44.84 and a beta of 0.90. HF Sinclair Co. has a fifty-two week low of $24.66 and a fifty-two week high of $54.48. The firm’s 50 day moving average is $32.34 and its two-hundred day moving average is $34.70.

HF Sinclair (NYSE:DINO) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.14. HF Sinclair had a net margin of 0.62% and a return on equity of 1.98%. The company had revenue of $6.37 billion during the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. Analysts expect that HF Sinclair Co. will post 2.39 EPS for the current year.

HF Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.44%. The ex-dividend date was Thursday, May 15th. HF Sinclair’s payout ratio is currently -259.74%.

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.