Van ECK Associates Corp Grows Stake in HF Sinclair Co. (NYSE:DINO)

Van ECK Associates Corp grew its holdings in shares of HF Sinclair Co. (NYSE:DINO) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,834 shares of the company’s stock after purchasing an additional 5,698 shares during the period. Van ECK Associates Corp owned approximately 0.06% of HF Sinclair worth $6,445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DINO. Vanguard Group Inc. grew its position in HF Sinclair by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 18,910,599 shares of the company’s stock worth $1,141,633,000 after purchasing an additional 696,031 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of HF Sinclair by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,345,088 shares of the company’s stock valued at $297,027,000 after buying an additional 98,477 shares during the last quarter. AustralianSuper Pty Ltd increased its position in shares of HF Sinclair by 15.3% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,502,271 shares of the company’s stock valued at $80,131,000 after acquiring an additional 199,881 shares during the period. Principal Financial Group Inc. raised its stake in HF Sinclair by 1.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,455,962 shares of the company’s stock worth $80,908,000 after acquiring an additional 17,934 shares during the last quarter. Finally, Norges Bank acquired a new stake in HF Sinclair during the 4th quarter worth about $65,774,000. Hedge funds and other institutional investors own 88.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DINO shares. Barclays increased their price target on shares of HF Sinclair from $51.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Piper Sandler cut their price objective on shares of HF Sinclair from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Wolfe Research started coverage on shares of HF Sinclair in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group cut their price target on HF Sinclair from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Argus raised HF Sinclair to a “hold” rating in a report on Wednesday, June 26th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, HF Sinclair has an average rating of “Moderate Buy” and a consensus price target of $62.55.

HF Sinclair Stock Up 3.5 %

DINO opened at $49.14 on Tuesday. HF Sinclair Co. has a 52 week low of $44.09 and a 52 week high of $64.16. The business has a 50 day moving average price of $49.10 and a two-hundred day moving average price of $54.26. The company has a quick ratio of 0.97, a current ratio of 2.12 and a debt-to-equity ratio of 0.26. The company has a market cap of $9.44 billion, a PE ratio of 6.08 and a beta of 1.19.

HF Sinclair (NYSE:DINO) last released its earnings results on Thursday, August 1st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.65 billion. HF Sinclair had a return on equity of 11.85% and a net margin of 3.80%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 EPS. As a group, research analysts anticipate that HF Sinclair Co. will post 3.69 EPS for the current year.

HF Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Wednesday, August 21st. HF Sinclair’s payout ratio is currently 24.75%.

HF Sinclair Company 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.