Connor Clark & Lunn Investment Management Ltd. Invests $21.06 Million in HF Sinclair Corporation $DINO

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of HF Sinclair Corporation (NYSE:DINO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 302,382 shares of the company’s stock, valued at approximately $21,061,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of HF Sinclair at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of HF Sinclair during the 2nd quarter valued at approximately $1,291,602,000. Bank of New York Mellon Corp purchased a new position in HF Sinclair in the second quarter worth approximately $140,654,000. NFJ Investment Group LLC increased its stake in HF Sinclair by 1,275.3% during the fourth quarter. NFJ Investment Group LLC now owns 1,873,541 shares of the company’s stock worth $86,333,000 after acquiring an additional 1,737,318 shares during the last quarter. Invesco Ltd. increased its stake in HF Sinclair by 104.3% during the third quarter. Invesco Ltd. now owns 1,947,075 shares of the company’s stock worth $101,910,000 after acquiring an additional 994,090 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in HF Sinclair by 101.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,794,964 shares of the company’s stock worth $82,712,000 after acquiring an additional 903,177 shares during the last quarter. Hedge funds and other institutional investors own 88.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Manuel J. Fernandez sold 635 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $73.09, for a total value of $46,412.15. Following the completion of the transaction, the director owned 16,543 shares of the company’s stock, valued at approximately $1,209,127.87. This trade represents a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rhoman J. Hardy acquired 1,508 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was acquired at an average price of $66.32 per share, with a total value of $100,010.56. Following the acquisition, the director directly owned 15,037 shares of the company’s stock, valued at approximately $997,253.84. This represents a 11.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Mizuho upped their price target on HF Sinclair from $79.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Zacks Research raised HF Sinclair from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Morgan Stanley boosted their price objective on shares of HF Sinclair from $69.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Weiss Ratings raised shares of HF Sinclair from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. Finally, Raymond James Financial set a $105.00 target price on shares of HF Sinclair in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

HF Sinclair Trading Down 1.8%

DINO opened at $93.44 on Wednesday. HF Sinclair Corporation has a 52 week low of $45.71 and a 52 week high of $98.39. The business has a fifty day simple moving average of $82.57 and a 200-day simple moving average of $69.33. The firm has a market cap of $16.61 billion, a P/E ratio of 8.92 and a beta of 0.70. The company has a quick ratio of 1.10, a current ratio of 1.97 and a debt-to-equity ratio of 0.27.

HF Sinclair (NYSE:DINO) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.49 by $0.82. HF Sinclair had a return on equity of 18.21% and a net margin of 6.13%.The business had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.68 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The company’s revenue was up 53.2% on a year-over-year basis. On average, equities analysts expect that HF Sinclair Corporation will post 11.85 earnings per share for the current year.

HF Sinclair Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 11th will be given a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.10 annualized dividend and a yield of 2.2%. This is an increase from HF Sinclair’s previous quarterly dividend of $0.50. HF Sinclair’s dividend payout ratio is presently 20.04%.

About HF Sinclair

HF Sinclair Corporation is a diversified energy manufacturing company engaged in the refining, marketing, and transportation of petroleum products across the United States. The company operates a network of refineries and processing facilities that convert crude oil and other feedstocks into fuels and specialty products. Its integrated model encompasses upstream supply agreements, midstream logistics, and downstream marketing channels, positioning HF Sinclair as a key supplier of refined products to wholesale and retail markets.

The company’s core product slate includes gasoline, diesel, jet fuel, and renewable fuels such as renewable diesel and biodiesel.