Assetmark Inc. Lowers Position in HF Sinclair Co. (NYSE:DINO)

Assetmark Inc. reduced its stake in HF Sinclair Co. (NYSE:DINO) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,805 shares of the company’s stock after selling 6,878 shares during the quarter. Assetmark Inc.’s holdings in HF Sinclair were worth $3,253,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DINO. Pacer Advisors Inc. raised its position in HF Sinclair by 8.1% in the 3rd quarter. Pacer Advisors Inc. now owns 8,411,694 shares of the company’s stock valued at $374,909,000 after buying an additional 626,755 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in HF Sinclair by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,512,051 shares of the company’s stock valued at $193,197,000 after purchasing an additional 617,218 shares during the period. Cambiar Investors LLC bought a new position in HF Sinclair in the 4th quarter valued at $7,751,000. Kornitzer Capital Management Inc. KS grew its stake in HF Sinclair by 72.2% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 433,155 shares of the company’s stock valued at $15,182,000 after purchasing an additional 181,550 shares during the period. Finally, Pine Valley Investments Ltd Liability Co grew its stake in HF Sinclair by 118.1% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 289,987 shares of the company’s stock valued at $10,164,000 after purchasing an additional 157,001 shares during the period. 88.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other HF Sinclair news, CFO Atanas H. Atanasov purchased 5,000 shares of the stock in a transaction on Thursday, December 19th. The shares were purchased at an average price of $33.77 per share, with a total value of $168,850.00. Following the acquisition, the chief financial officer now directly owns 78,927 shares in the company, valued at approximately $2,665,364.79. The trade was a 6.76 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 17,635 shares of company stock worth $632,860 in the last quarter. 0.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on DINO shares. Piper Sandler restated an “overweight” rating and issued a $49.00 price objective on shares of HF Sinclair in a research note on Friday. Wells Fargo & Company downgraded HF Sinclair from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $53.00 to $45.00 in a research note on Monday, December 9th. Mizuho reduced their price objective on HF Sinclair from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Barclays reduced their price objective on HF Sinclair from $42.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their price target on HF Sinclair from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, HF Sinclair currently has an average rating of “Hold” and a consensus price target of $51.00.

HF Sinclair Stock Up 1.7 %

Shares of NYSE DINO opened at $32.19 on Monday. HF Sinclair Co. has a 52 week low of $29.85 and a 52 week high of $64.16. The business has a 50-day simple moving average of $35.85 and a two-hundred day simple moving average of $40.25. The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 0.24. The company has a market cap of $6.07 billion, a P/E ratio of 39.26 and a beta of 1.13.

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

HF Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $2.00 annualized dividend and a yield of 6.21%. HF Sinclair’s dividend payout ratio is currently 243.90%.

About HF Sinclair

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.