Norges Bank Makes New Investment in HF Sinclair Corporation $DINO

Norges Bank bought a new position in shares of HF Sinclair Corporation (NYSE:DINO) during the fourth quarter, HoldingsChannel.com reports. The firm bought 366,935 shares of the company’s stock, valued at approximately $16,908,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of HF Sinclair during the 4th quarter worth approximately $26,000. State of Wyoming acquired a new position in shares of HF Sinclair during the 2nd quarter worth approximately $41,000. Torren Management LLC acquired a new position in shares of HF Sinclair during the 4th quarter worth approximately $55,000. CI Investments Inc. grew its position in shares of HF Sinclair by 20.0% during the 3rd quarter. CI Investments Inc. now owns 1,121 shares of the company’s stock worth $59,000 after purchasing an additional 187 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of HF Sinclair by 21.2% during the 3rd quarter. Bessemer Group Inc. now owns 1,433 shares of the company’s stock worth $74,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 88.29% of the company’s stock.

HF Sinclair Price Performance

Shares of NYSE:DINO opened at $69.49 on Wednesday. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 10.45 and a beta of 0.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $65.77 and a 200 day simple moving average of $57.07. HF Sinclair Corporation has a one year low of $37.12 and a one year high of $74.72.

HF Sinclair (NYSE:DINO) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.69 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.75. The business had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $6.83 billion. HF Sinclair had a net margin of 4.46% and a return on equity of 11.94%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.27) EPS. Research analysts predict that HF Sinclair Corporation will post 8.77 earnings per share for the current fiscal year.

HF Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 11th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.00 annualized dividend and a yield of 2.9%. HF Sinclair’s dividend payout ratio is presently 30.08%.

Insider Activity at HF Sinclair

In related news, SVP Matthew Joyce sold 2,384 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $69.73, for a total value of $166,236.32. Following the completion of the transaction, the senior vice president owned 14,797 shares of the company’s stock, valued at $1,031,794.81. This represents a 13.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vivek Garg sold 717 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $71.89, for a total transaction of $51,545.13. Following the completion of the transaction, the chief financial officer directly owned 11,475 shares of the company’s stock, valued at approximately $824,937.75. The trade was a 5.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,736 shares of company stock worth $954,694 in the last 90 days. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of HF Sinclair from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $81.00 price target on shares of HF Sinclair in a report on Wednesday, May 6th. Raymond James Financial upped their price target on shares of HF Sinclair from $66.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Wednesday, March 25th. Weiss Ratings raised shares of HF Sinclair from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Finally, Zacks Research raised shares of HF Sinclair from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.82.

About HF Sinclair

HF Sinclair Corporation is a diversified energy manufacturing company engaged in the refining, marketing, and transportation of petroleum products across the United States. The company operates a network of refineries and processing facilities that convert crude oil and other feedstocks into fuels and specialty products. Its integrated model encompasses upstream supply agreements, midstream logistics, and downstream marketing channels, positioning HF Sinclair as a key supplier of refined products to wholesale and retail markets.

The company’s core product slate includes gasoline, diesel, jet fuel, and renewable fuels such as renewable diesel and biodiesel.