Readystate Asset Management LP Takes $1.44 Million Position in HF Sinclair Co. (NYSE:DINO)

Readystate Asset Management LP acquired a new stake in HF Sinclair Co. (NYSE:DINO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 25,965 shares of the company’s stock, valued at approximately $1,443,000.

A number of other institutional investors also recently modified their holdings of DINO. Bornite Capital Management LP bought a new stake in shares of HF Sinclair in the 1st quarter valued at $13,947,000. Advisor Group Holdings Inc. bought a new stake in shares of HF Sinclair in the 1st quarter valued at $241,000. JPMorgan Chase & Co. bought a new stake in shares of HF Sinclair in the 1st quarter valued at $13,169,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of HF Sinclair in the 1st quarter valued at $1,823,000. Finally, US Bancorp DE bought a new stake in shares of HF Sinclair in the 1st quarter valued at $292,000. 88.29% of the stock is owned by institutional investors.

HF Sinclair Stock Down 1.4 %

DINO traded down $0.78 during trading on Thursday, hitting $56.27. 1,973,412 shares of the company’s stock were exchanged, compared to its average volume of 2,182,444. The company has a quick ratio of 1.16, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $59.14 and its two-hundred day moving average is $56.20. HF Sinclair Co. has a fifty-two week low of $37.12 and a fifty-two week high of $64.16. The stock has a market cap of $11.09 billion, a P/E ratio of 6.78 and a beta of 1.28.

HF Sinclair (NYSE:DINO) last announced its earnings results on Wednesday, February 21st. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.72 by $0.15. The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $8.05 billion. HF Sinclair had a net margin of 4.97% and a return on equity of 17.61%. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.97 earnings per share. As a group, equities analysts expect that HF Sinclair Co. will post 6.28 earnings per share for the current fiscal year.

HF Sinclair Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Monday, February 26th were issued a $0.50 dividend. The ex-dividend date was Friday, February 23rd. This represents a $2.00 annualized dividend and a dividend yield of 3.55%. This is an increase from HF Sinclair’s previous quarterly dividend of $0.45. HF Sinclair’s dividend payout ratio is currently 24.10%.

Wall Street Analyst Weigh In

DINO has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of HF Sinclair from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. UBS Group upgraded shares of HF Sinclair from a “neutral” rating to a “buy” rating and boosted their target price for the company from $64.00 to $73.00 in a research report on Wednesday, February 14th. Piper Sandler boosted their target price on shares of HF Sinclair from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Barclays started coverage on shares of HF Sinclair in a research report on Monday, February 26th. They set an “equal weight” rating and a $60.00 target price on the stock. Finally, Scotiabank boosted their target price on shares of HF Sinclair from $58.00 to $66.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, HF Sinclair has a consensus rating of “Moderate Buy” and an average target price of $65.42.

Insider Activity

In related news, EVP Valerie Pompa sold 7,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.53, for a total transaction of $402,710.00. Following the completion of the transaction, the executive vice president now owns 29,617 shares in the company, valued at $1,703,866.01. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other HF Sinclair news, Director Franklin Myers bought 4,180 shares of the business’s stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $58.94 per share, for a total transaction of $246,369.20. Following the completion of the transaction, the director now directly owns 131,793 shares of the company’s stock, valued at $7,767,879.42. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Valerie Pompa sold 7,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.53, for a total transaction of $402,710.00. Following the transaction, the executive vice president now owns 29,617 shares of the company’s stock, valued at approximately $1,703,866.01. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.

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.