JPMorgan Chase & Co. Increases Stock Position in HF Sinclair Co. (NYSE:DINO)

JPMorgan Chase & Co. boosted its position in shares of HF Sinclair Co. (NYSE:DINO) by 4.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 849,117 shares of the company’s stock after acquiring an additional 33,373 shares during the period. JPMorgan Chase & Co.’s holdings in HF Sinclair were worth $37,845,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. increased its stake in shares of HF Sinclair by 58.3% in the 2nd quarter. Pacer Advisors Inc. now owns 7,784,939 shares of the company’s stock valued at $415,249,000 after purchasing an additional 2,868,273 shares in the last quarter. AQR Capital Management LLC increased its holdings in HF Sinclair by 54.9% in the 2nd quarter. AQR Capital Management LLC now owns 2,816,084 shares of the company’s stock worth $147,873,000 after acquiring an additional 997,629 shares in the last quarter. Squarepoint Ops LLC raised its position in HF Sinclair by 90.2% during the second quarter. Squarepoint Ops LLC now owns 849,553 shares of the company’s stock worth $45,315,000 after acquiring an additional 402,793 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of HF Sinclair by 7.5% during the second quarter. Dimensional Fund Advisors LP now owns 5,749,406 shares of the company’s stock worth $306,665,000 after purchasing an additional 399,988 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of HF Sinclair during the 2nd quarter worth about $12,001,000. 88.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other HF Sinclair news, CFO Atanas H. Atanasov purchased 7,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $37.96 per share, with a total value of $265,720.00. Following the completion of the acquisition, the chief financial officer now directly owns 71,927 shares of the company’s stock, valued at $2,730,348.92. This trade represents a 10.78 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Franklin Myers bought 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $38.76 per share, with a total value of $193,800.00. Following the acquisition, the director now owns 145,293 shares in the company, valued at approximately $5,631,556.68. This represents a 3.56 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 17,000 shares of company stock valued at $628,370 in the last three months. 0.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DINO shares. TD Cowen reduced their target price on HF Sinclair from $43.00 to $35.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Morgan Stanley decreased their price objective on HF Sinclair from $63.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Mizuho cut their price target on HF Sinclair from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Barclays lowered their price target on shares of HF Sinclair from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, BMO Capital Markets cut their price objective on shares of HF Sinclair from $57.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $51.45.

HF Sinclair Price Performance

Shares of DINO opened at $35.21 on Monday. The firm has a 50-day simple moving average of $38.99 and a two-hundred day simple moving average of $44.57. The stock has a market cap of $6.62 billion, a PE ratio of 21.73 and a beta of 1.20. HF Sinclair Co. has a 1-year low of $33.47 and a 1-year high of $64.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.81 and a quick ratio of 0.90.

HF Sinclair (NYSE:DINO) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.32 by $0.19. The business had revenue of $7.21 billion during the quarter, compared to analyst estimates of $7.11 billion. HF Sinclair had a return on equity of 5.51% and a net margin of 1.10%. The company’s quarterly revenue was down 19.1% on a year-over-year basis. During the same period last year, the business posted $4.06 earnings per share. As a group, analysts forecast that HF Sinclair Co. will post 2.27 EPS for the current year.

HF Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were issued a $0.50 dividend. The ex-dividend date was Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 5.68%. HF Sinclair’s dividend payout ratio (DPR) is presently 123.46%.

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.