Cibc World Market Inc. Invests $9.70 Million in HF Sinclair Corporation $DINO

Cibc World Market Inc. bought a new stake in HF Sinclair Corporation (NYSE:DINO) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 139,232 shares of the company’s stock, valued at approximately $9,698,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of HF Sinclair in the 2nd quarter valued at about $1,291,602,000. Vanguard Group Inc. boosted its position in shares of HF Sinclair by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 16,830,649 shares of the company’s stock valued at $775,556,000 after purchasing an additional 446,867 shares during the period. Dimensional Fund Advisors LP grew its stake in HF Sinclair by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,249,939 shares of the company’s stock worth $577,114,000 after buying an additional 103,135 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in HF Sinclair by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,364,158 shares of the company’s stock worth $293,260,000 after buying an additional 48,103 shares during the period. Finally, State Street Corp increased its position in HF Sinclair by 0.4% during the fourth quarter. State Street Corp now owns 6,142,078 shares of the company’s stock worth $283,027,000 after buying an additional 22,150 shares during the period. 88.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DINO. TD Cowen increased their price objective on HF Sinclair from $79.00 to $98.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Morgan Stanley lifted their target price on shares of HF Sinclair from $69.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Evercore assumed coverage on shares of HF Sinclair in a research report on Friday, July 17th. They issued an “in-line” rating and a $85.00 price target for the company. Mizuho increased their price target on shares of HF Sinclair from $79.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, Raymond James Financial set a $105.00 price objective on shares of HF Sinclair in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Insiders Place Their Bets

In other news, SVP Dale Kunneman sold 8,936 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $755,806.88. Following the completion of the transaction, the senior vice president owned 42,561 shares in the company, valued at $3,599,809.38. This trade represents a 17.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Manuel J. Fernandez sold 635 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $73.09, for a total transaction of $46,412.15. Following the completion of the sale, the director owned 16,543 shares of the company’s stock, valued at $1,209,127.87. This trade represents a 3.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.26% of the company’s stock.

HF Sinclair Stock Down 2.3%

Shares of HF Sinclair stock opened at $95.12 on Tuesday. HF Sinclair Corporation has a one year low of $45.71 and a one year high of $98.39. The company has a market cap of $16.91 billion, a P/E ratio of 9.08 and a beta of 0.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.10 and a current ratio of 1.97. The firm has a fifty day moving average of $82.04 and a two-hundred day moving average of $69.08.

HF Sinclair (NYSE:DINO) last issued its earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.82. The business had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $8.68 billion. HF Sinclair had a net margin of 6.13% and a return on equity of 18.21%. The business’s quarterly revenue was up 53.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. On average, analysts forecast that HF Sinclair Corporation will post 11.85 earnings per share for the current year.

HF Sinclair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 11th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from HF Sinclair’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, August 11th. HF Sinclair’s dividend payout ratio (DPR) is presently 20.04%.

HF Sinclair Profile

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.