Bank of New York Mellon Corp Acquires 583,390 Shares of HF Sinclair Corporation $DINO

Bank of New York Mellon Corp grew its holdings in shares of HF Sinclair Corporation (NYSE:DINO) by 41.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,987,992 shares of the company’s stock after buying an additional 583,390 shares during the period. Bank of New York Mellon Corp’s holdings in HF Sinclair were worth $91,607,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in HF Sinclair by 6.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 658,782 shares of the company’s stock worth $30,357,000 after buying an additional 37,865 shares during the period. AXQ Capital LP acquired a new position in shares of HF Sinclair in the 4th quarter valued at $1,875,000. COFG Advisors LLC acquired a new position in shares of HF Sinclair in the 4th quarter valued at $201,000. Ellevest Inc. acquired a new stake in HF Sinclair during the 4th quarter worth about $376,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in HF Sinclair during the 4th quarter worth about $228,000. Hedge funds and other institutional investors own 88.29% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vivek Garg sold 717 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $71.89, for a total value 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 $824,937.75. This trade represents a 5.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Manuel J. Fernandez sold 635 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $73.09, for a total value of $46,412.15. Following the completion of the transaction, the director directly owned 16,543 shares of the company’s stock, valued at $1,209,127.87. The trade was a 3.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,736 shares of company stock valued at $954,694. Corporate insiders own 0.26% of the company’s stock.

HF Sinclair Price Performance

HF Sinclair stock opened at $72.33 on Tuesday. The stock has a market cap of $13.04 billion, a P/E ratio of 10.88 and a beta of 0.72. The company has a fifty day simple moving average of $65.65 and a 200-day simple moving average of $56.96. HF Sinclair Corporation has a 12-month low of $36.68 and a 12-month high of $74.72. The company has a current ratio of 1.79, a quick ratio of 0.88 and a debt-to-equity ratio of 0.28.

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

HF Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 11th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.00 annualized dividend and a yield of 2.8%. HF Sinclair’s dividend payout ratio is currently 30.08%.

Analyst Ratings Changes

Several research firms have recently issued reports on DINO. Raymond James Financial increased their target price on shares of HF Sinclair from $66.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, March 25th. Weiss Ratings raised shares of HF Sinclair from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Argus upgraded shares of HF Sinclair to a “hold” rating in a report on Tuesday, February 24th. Scotiabank increased their price objective on shares of HF Sinclair from $53.00 to $54.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Finally, BMO Capital Markets cut their price target on shares of HF Sinclair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.82.

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.