Redwood Investment Management LLC Decreases Position in HF Sinclair Co. (NYSE:DINO)

Redwood Investment Management LLC decreased its stake in HF Sinclair Co. (NYSE:DINO) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,918 shares of the company’s stock after selling 11,702 shares during the quarter. Redwood Investment Management LLC’s holdings in HF Sinclair were worth $3,569,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DINO. Millburn Ridgefield Corp bought a new position in HF Sinclair in the 3rd quarter valued at $50,000. Morse Asset Management Inc bought a new position in shares of HF Sinclair in the third quarter worth about $1,560,000. Investment Management Corp of Ontario grew its holdings 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 purchasing an additional 1,700 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in HF Sinclair by 4.9% during the 3rd 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, Kestra Investment Management LLC bought a new stake in HF Sinclair during the 3rd quarter valued at about $204,000. Institutional investors own 88.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DINO. BMO Capital Markets reduced their target price on shares of HF Sinclair from $57.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Morgan Stanley decreased their price objective on HF Sinclair from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on shares of HF Sinclair from $60.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Barclays reduced their price target on shares of HF Sinclair from $44.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Wells Fargo & Company dropped their price objective on shares of HF Sinclair from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.27.

Insiders Place Their Bets

In other news, Director Franklin Myers acquired 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $38.76 per share, with a total value of $193,800.00. Following the completion of the acquisition, the director now owns 145,293 shares of the company’s stock, valued at approximately $5,631,556.68. This trade represents a 3.56 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.

HF Sinclair Stock Performance

Shares of DINO opened at $39.75 on Thursday. The company has a current ratio of 1.81, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a market cap of $7.48 billion, a PE ratio of 24.54 and a beta of 1.20. HF Sinclair Co. has a 12 month low of $38.25 and a 12 month high of $64.16. The stock has a fifty day moving average price of $42.86 and a 200-day moving average price of $47.44.

HF Sinclair (NYSE:DINO) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. HF Sinclair had a return on equity of 5.51% and a net margin of 1.10%. The company had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same period last year, the business posted $4.06 earnings per share. The firm’s revenue was down 19.1% compared to the same quarter last year. Equities research analysts predict that HF Sinclair Co. will post 2.35 earnings per share for the current fiscal year.

HF Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 5.03%. HF Sinclair’s payout ratio is 123.46%.

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.