Envestnet Asset Management Inc. Boosts Stake in HF Sinclair Co. (NYSE:DINO)

Envestnet Asset Management Inc. lifted its holdings in HF Sinclair Co. (NYSE:DINO) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,405 shares of the company’s stock after purchasing an additional 1,945 shares during the quarter. Envestnet Asset Management Inc.’s holdings in HF Sinclair were worth $4,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC purchased a new stake in HF Sinclair during the first quarter valued at $26,000. Riverview Trust Co purchased a new stake in HF Sinclair during the first quarter valued at $31,000. Innealta Capital LLC purchased a new stake in HF Sinclair during the second quarter valued at $34,000. Quarry LP purchased a new stake in HF Sinclair during the fourth quarter valued at $39,000. Finally, Bessemer Group Inc. increased its position in HF Sinclair by 201.0% during the first quarter. Bessemer Group Inc. now owns 1,171 shares of the company’s stock valued at $71,000 after acquiring an additional 782 shares during the last quarter. Hedge funds and other institutional investors own 88.29% of the company’s stock.

Analysts Set New Price Targets

DINO has been the subject of several recent research reports. Argus raised HF Sinclair to a “hold” rating in a report on Wednesday, June 26th. Morgan Stanley cut their price target on HF Sinclair from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Barclays boosted their price target on HF Sinclair from $51.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on HF Sinclair from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Finally, Wells Fargo & Company cut their price target on HF Sinclair from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.73.

HF Sinclair Trading Down 0.8 %

DINO stock opened at $44.23 on Wednesday. The company’s 50-day simple moving average is $47.08 and its 200-day simple moving average is $52.51. The company has a quick ratio of 0.97, a current ratio of 2.12 and a debt-to-equity ratio of 0.26. HF Sinclair Co. has a 52-week low of $43.88 and a 52-week high of $64.16. The firm has a market cap of $8.50 billion, a P/E ratio of 5.47 and a beta of 1.18.

HF Sinclair (NYSE:DINO) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.65 billion. HF Sinclair had a net margin of 3.80% and a return on equity of 11.85%. HF Sinclair’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $2.60 EPS. As a group, equities analysts forecast that HF Sinclair Co. will post 2.84 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.52%. HF Sinclair’s dividend payout ratio is currently 24.75%.

About HF Sinclair

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.