Bank of America Corp DE Has $45.55 Million Stake in HF Sinclair Co. (NYSE:DINO)

Posted by Defense World Staff on Jun 8th, 2023

Bank of America Corp DE raised its position in HF Sinclair Co. (NYSE:DINO – Get Rating) by 28.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 877,891 shares of the company’s stock after purchasing an additional 193,222 shares during the quarter. Bank of America Corp DE owned 0.44% of HF Sinclair worth $45,554,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DINO. Raymond James Financial Services Advisors Inc. increased its position in shares of HF Sinclair by 22.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,717 shares of the company’s stock valued at $2,736,000 after acquiring an additional 9,772 shares during the last quarter. Arizona State Retirement System grew its holdings in HF Sinclair by 8.4% during the fourth quarter. Arizona State Retirement System now owns 46,034 shares of the company’s stock worth $2,389,000 after purchasing an additional 3,570 shares during the period. AXA S.A. grew its holdings in HF Sinclair by 79.2% during the third quarter. AXA S.A. now owns 89,400 shares of the company’s stock worth $4,813,000 after purchasing an additional 39,500 shares during the period. CWA Asset Management Group LLC bought a new position in HF Sinclair during the fourth quarter worth about $234,000. Finally, Hillsdale Investment Management Inc. bought a new position in HF Sinclair during the third quarter worth about $573,000. Institutional investors and hedge funds own 87.69% of the company’s stock.

Analyst Upgrades and Downgrades

DINO has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on HF Sinclair from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, March 28th. TD Cowen lowered their price objective on shares of HF Sinclair from $50.00 to $44.00 and set a “market perform” rating for the company in a research report on Friday, May 5th. Wells Fargo & Company upgraded shares of HF Sinclair from an “equal weight” rating to an “overweight” rating and set a $55.00 price objective for the company in a research report on Thursday, March 16th. UBS Group started coverage on shares of HF Sinclair in a research report on Wednesday, March 8th. They set a “neutral” rating and a $58.00 price objective for the company. Finally, Mizuho lowered their price objective on shares of HF Sinclair from $69.00 to $56.00 in a research report on Friday, May 19th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, HF Sinclair currently has an average rating of “Moderate Buy” and a consensus target price of $59.33.

HF Sinclair Stock Performance

NYSE DINO opened at $46.04 on Thursday. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 3.16, a PEG ratio of 1.29 and a beta of 1.40. HF Sinclair Co. has a twelve month low of $37.12 and a twelve month high of $66.19. The stock has a fifty day simple moving average of $43.50 and a 200 day simple moving average of $49.63. The company has a quick ratio of 1.00, a current ratio of 2.10 and a debt-to-equity ratio of 0.29.

HF Sinclair (NYSE:DINO – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.52. The business had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $6.97 billion. HF Sinclair had a return on equity of 32.56% and a net margin of 8.13%. HF Sinclair’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. Sell-side analysts expect that HF Sinclair Co. will post 7.81 EPS for the current year.

HF Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Thursday, May 18th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $1.80 dividend on an annualized basis and a yield of 3.91%. HF Sinclair’s dividend payout ratio (DPR) is currently 12.34%.

Insider Buying and Selling at HF Sinclair

In other HF Sinclair news, major shareholder Carol Orme Holding sold 4,000,000 shares of the company’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $47.59, for a total transaction of $190,360,000.00. Following the sale, the insider now owns 34,853,483 shares of the company’s stock, valued at $1,658,677,255.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

HF Sinclair Company Profile

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HF Sinclair Corp. is an independent energy company. It manufactures and sells products such as gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, and specialty and modified asphalt. The company operates through five segments: Refining, Marketing, Renewables, Lubricants and Specialty Products, and Midstream.