Assenagon Asset Management S.A. Purchases 162,361 Shares of HF Sinclair Co. (NYSE:DINO)

Posted by on Jul 1st, 2023

Assenagon Asset Management S.A. increased its position in shares of HF Sinclair Co. (NYSE:DINO – Free Report) by 155.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 266,685 shares of the company’s stock after buying an additional 162,361 shares during the period. Assenagon Asset Management S.A. owned 0.14% of HF Sinclair worth $12,902,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of DINO. Vanguard Group Inc. acquired a new stake in HF Sinclair in the first quarter worth $566,029,000. BlackRock Inc. acquired a new stake in HF Sinclair in the first quarter worth $539,533,000. State Street Corp acquired a new stake in HF Sinclair in the first quarter worth $308,240,000. Invesco Ltd. acquired a new stake in HF Sinclair in the first quarter worth $102,959,000. Finally, First Trust Advisors LP acquired a new stake in HF Sinclair in the first quarter worth $81,253,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

HF Sinclair Stock Performance

NYSE DINO opened at $44.63 on Friday. The company’s 50 day moving average is $42.88 and its 200-day moving average is $48.08. HF Sinclair Co. has a 12-month low of $37.12 and a 12-month high of $66.19. The company has a quick ratio of 1.00, a current ratio of 2.10 and a debt-to-equity ratio of 0.29. The firm has a market cap of $8.58 billion, a P/E ratio of 3.06, a price-to-earnings-growth ratio of 1.31 and a beta of 1.40.

HF Sinclair (NYSE:DINO – Free Report) last posted its quarterly earnings results on Thursday, May 4th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.52. HF Sinclair had a net margin of 8.13% and a return on equity of 32.56%. The company had revenue of $7.57 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Sell-side analysts predict that HF Sinclair Co. will post 7.85 earnings per share for the current year.

HF Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Wednesday, May 17th. HF Sinclair’s dividend payout ratio (DPR) is currently 12.34%.

Analyst Ratings Changes

A number of research firms have commented on DINO. JPMorgan Chase & Co. raised their price target on shares of HF Sinclair from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, March 28th. 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 report on Thursday, March 16th. UBS Group began coverage on shares of HF Sinclair in a report on Wednesday, March 8th. They set a “neutral” rating and a $58.00 price objective for the company. Piper Sandler reduced their price objective on shares of HF Sinclair from $73.00 to $59.00 in a report on Thursday, May 18th. Finally, Mizuho reduced their price objective on shares of HF Sinclair from $69.00 to $56.00 in a report on Friday, May 19th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.91.

HF Sinclair Profile

(Free Report)

HF Sinclair Corporation operates as an independent energy company. It produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, specialty and modified asphalt, and others. The company also 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.

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Institutional Ownership by Quarter for HF Sinclair (NYSE:DINO)

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