Encompass Capital Advisors LLC Invests $70.44 Million in HF Sinclair Corporation $DINO

Encompass Capital Advisors LLC purchased a new position in HF Sinclair Corporation (NYSE:DINO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,714,618 shares of the company’s stock, valued at approximately $70,437,000. HF Sinclair comprises 2.6% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 11th largest position. Encompass Capital Advisors LLC owned 0.92% of HF Sinclair at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PFG Investments LLC acquired a new stake in HF Sinclair in the second quarter worth about $244,000. Campbell & CO Investment Adviser LLC acquired a new position in HF Sinclair during the 2nd quarter valued at about $1,851,000. OMNI 360 Wealth Inc. bought a new stake in shares of HF Sinclair during the 2nd quarter worth about $218,000. Charles Schwab Investment Management Inc. lifted its stake in shares of HF Sinclair by 5.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,225,992 shares of the company’s stock worth $255,764,000 after acquiring an additional 298,735 shares during the period. Finally, Level Four Advisory Services LLC boosted its holdings in shares of HF Sinclair by 71.4% in the first quarter. Level Four Advisory Services LLC now owns 125,263 shares of the company’s stock valued at $4,119,000 after acquiring an additional 52,182 shares in the last quarter. Institutional investors and hedge funds own 88.29% of the company’s stock.

HF Sinclair Trading Up 0.0%

NYSE:DINO opened at $49.39 on Friday. The stock has a fifty day simple moving average of $52.65 and a 200 day simple moving average of $47.83. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of 23.63 and a beta of 0.84. HF Sinclair Corporation has a 1-year low of $24.66 and a 1-year high of $56.58. The company has a quick ratio of 0.97, a current ratio of 1.91 and a debt-to-equity ratio of 0.29.

HF Sinclair (NYSE:DINO) last posted its quarterly earnings data 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. HF Sinclair had a return on equity of 5.77% and a net margin of 1.46%.The firm had revenue of $7.25 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts forecast that HF Sinclair Corporation will post 2.39 earnings per share for the current year.

HF Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Wednesday, November 19th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Wednesday, November 19th. HF Sinclair’s dividend payout ratio is 95.69%.

Analysts Set New Price Targets

DINO has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on HF Sinclair from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Zacks Research cut HF Sinclair from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Raymond James Financial restated a “strong-buy” rating and issued a $65.00 price objective (up previously from $60.00) on shares of HF Sinclair in a report on Friday, October 17th. Wall Street Zen raised HF Sinclair from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 10th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of HF Sinclair in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $60.20.

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.