KBC Group NV Trims Stake in HF Sinclair Corporation $DINO

KBC Group NV lessened its stake in HF Sinclair Corporation (NYSE:DINO) by 36.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,878 shares of the company’s stock after selling 2,799 shares during the period. KBC Group NV’s holdings in HF Sinclair were worth $200,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of HF Sinclair by 47.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 176,300 shares of the company’s stock valued at $5,797,000 after purchasing an additional 56,596 shares during the period. Kingsview Wealth Management LLC acquired a new position in shares of HF Sinclair in the first quarter worth about $274,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of HF Sinclair during the 1st quarter worth about $1,585,000. Cadence Wealth Management LLC grew its position in shares of HF Sinclair by 46.9% during the 1st quarter. Cadence Wealth Management LLC now owns 16,972 shares of the company’s stock valued at $558,000 after acquiring an additional 5,418 shares during the period. Finally, Jackson Hole Capital Partners LLC grew its position in shares of HF Sinclair by 23.0% during the 1st quarter. Jackson Hole Capital Partners LLC now owns 48,275 shares of the company’s stock valued at $1,587,000 after acquiring an additional 9,016 shares during the period. 88.29% of the stock is owned by hedge funds and other institutional investors.

HF Sinclair Stock Up 2.2%

NYSE DINO opened at $56.21 on Wednesday. The business has a fifty day moving average price of $52.94 and a 200 day moving average price of $45.94. HF Sinclair Corporation has a one year low of $24.66 and a one year high of $56.58. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.82. The company has a market cap of $10.34 billion, a P/E ratio of -122.20 and a beta of 0.99.

HF Sinclair (NYSE:DINO) last announced its earnings results on Thursday, October 30th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.50. The company had revenue of $7.25 billion for the quarter, compared to analysts’ expectations of $6.99 billion. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.89%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. Research analysts anticipate that HF Sinclair Corporation will post 2.39 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Wednesday, November 19th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, November 19th. HF Sinclair’s dividend payout ratio is currently 95.69%.

Wall Street Analysts Forecast Growth

DINO has been the subject of a number of analyst reports. Mizuho upped their price target on HF Sinclair from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HF Sinclair in a research note on Thursday, November 13th. Wells Fargo & Company began coverage on HF Sinclair in a research report on Friday, October 17th. They set an “equal weight” rating and a $58.00 target price on the stock. Piper Sandler boosted their price target on shares of HF Sinclair from $59.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, November 14th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $65.00 price objective (up from $60.00) on shares of HF Sinclair in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.18.

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.