Norges Bank Buys New Shares in HF Sinclair Co. (NYSE:DINO)

Norges Bank purchased a new position in HF Sinclair Co. (NYSE:DINO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,178,791 shares of the company’s stock, valued at approximately $41,317,000. Norges Bank owned about 0.63% of HF Sinclair as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC raised its position in shares of HF Sinclair by 13.8% during the third quarter. FMR LLC now owns 1,167,209 shares of the company’s stock worth $52,023,000 after purchasing an additional 141,472 shares during the period. Townsquare Capital LLC purchased a new position in HF Sinclair in the 3rd quarter worth about $220,000. Captrust Financial Advisors raised its holdings in HF Sinclair by 14.2% during the 3rd quarter. Captrust Financial Advisors now owns 18,475 shares of the company’s stock worth $823,000 after buying an additional 2,297 shares during the period. Janus Henderson Group PLC lifted its stake in HF Sinclair by 4.9% during the third quarter. Janus Henderson Group PLC now owns 706,799 shares of the company’s stock valued at $31,502,000 after buying an additional 32,951 shares in the last quarter. Finally, Investment Management Corp of Ontario increased its position in shares of HF Sinclair by 6.4% in the third quarter. Investment Management Corp of Ontario now owns 28,456 shares of the company’s stock worth $1,268,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors own 88.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. TD Cowen decreased their price objective on shares of HF Sinclair from $43.00 to $35.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Mizuho decreased their target price on HF Sinclair from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday. Morgan Stanley dropped their price target on HF Sinclair from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on HF Sinclair from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Finally, Barclays reduced their price target on shares of HF Sinclair from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $46.50.

Insider Transactions at HF Sinclair

In other news, Director Franklin Myers acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average cost of $35.66 per share, with a total value of $178,300.00. Following the acquisition, the director now owns 154,065 shares in the company, valued at approximately $5,493,957.90. This represents a 3.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.28% of the stock is currently owned by corporate insiders.

HF Sinclair Price Performance

Shares of DINO opened at $27.46 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.81. The firm has a market cap of $5.17 billion, a PE ratio of 33.48 and a beta of 1.13. The firm’s 50 day moving average price is $34.55 and its 200 day moving average price is $38.35. HF Sinclair Co. has a twelve month low of $26.02 and a twelve month high of $64.16.

HF Sinclair (NYSE:DINO) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.11). The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.56 billion. HF Sinclair had a net margin of 0.62% and a return on equity of 1.98%. As a group, research analysts expect that HF Sinclair Co. will post 2.39 EPS for the current fiscal year.

HF Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.28%. HF Sinclair’s dividend payout ratio is currently 243.90%.

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.