Principal Financial Group Inc. Cuts Stock Position in HF Sinclair Co. (NYSE:DINO)

Principal Financial Group Inc. lowered its stake in HF Sinclair Co. (NYSE:DINO) by 3.6% during the third quarter, Holdings Channel.com reports. The fund owned 1,332,544 shares of the company’s stock after selling 49,744 shares during the quarter. Principal Financial Group Inc.’s holdings in HF Sinclair were worth $59,397,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. River Road Asset Management LLC boosted its holdings in HF Sinclair by 3.4% in the 3rd quarter. River Road Asset Management LLC now owns 769,847 shares of the company’s stock worth $34,312,000 after buying an additional 25,041 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of HF Sinclair by 42.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 274,805 shares of the company’s stock valued at $12,248,000 after acquiring an additional 81,344 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of HF Sinclair by 9.4% in the third quarter. Janney Montgomery Scott LLC now owns 37,088 shares of the company’s stock worth $1,653,000 after acquiring an additional 3,193 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its position in shares of HF Sinclair by 0.7% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 63,885 shares of the company’s stock worth $2,847,000 after purchasing an additional 455 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in HF Sinclair by 11.7% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,678,196 shares of the company’s stock valued at $74,797,000 after purchasing an additional 175,925 shares during the last quarter. Hedge funds and other institutional investors own 88.29% of the company’s stock.

Insiders Place Their Bets

In other HF Sinclair news, Director Franklin Myers purchased 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $38.76 per share, for a total transaction of $193,800.00. Following the completion of the purchase, the director now directly owns 145,293 shares in the company, valued at approximately $5,631,556.68. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DINO. Morgan Stanley dropped their target price on shares of HF Sinclair from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, September 16th. UBS Group cut their price objective on shares of HF Sinclair from $58.00 to $55.00 and set a “buy” rating for the company in a report on Monday, November 4th. Scotiabank cut their price target on HF Sinclair from $66.00 to $57.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on HF Sinclair from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Piper Sandler dropped their price objective on shares of HF Sinclair from $58.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.45.

HF Sinclair Trading Up 0.7 %

DINO opened at $41.81 on Friday. HF Sinclair Co. has a 52 week low of $38.25 and a 52 week high of $64.16. The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $44.39 and a 200-day simple moving average of $49.32. The firm has a market cap of $7.87 billion, a P/E ratio of 25.81 and a beta of 1.18.

HF Sinclair (NYSE:DINO) last announced its earnings results on Thursday, October 31st. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. The company had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $7.11 billion. HF Sinclair had a return on equity of 5.51% and a net margin of 1.10%. HF Sinclair’s revenue for the quarter was down 19.1% on a year-over-year basis. During the same period last year, the business posted $4.06 EPS. On average, equities analysts expect that HF Sinclair Co. will post 2.39 earnings per share for the current year.

HF Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.78%. HF Sinclair’s dividend payout ratio (DPR) is presently 123.46%.

HF Sinclair 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.