35,000 Shares in HF Sinclair Co. (NYSE:DINO) Bought by Morse Asset Management Inc

Morse Asset Management Inc purchased a new position in shares of HF Sinclair Co. (NYSE:DINO - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 35,000 shares of the company's stock, valued at approximately $1,560,000.

A number of other institutional investors also recently bought and sold shares of DINO. Matrix Trust Co increased its stake in shares of HF Sinclair by 122.4% during the third quarter. Matrix Trust Co now owns 576 shares of the company's stock worth $26,000 after acquiring an additional 317 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of HF Sinclair during the third quarter worth about $27,000. Innealta Capital LLC acquired a new position in HF Sinclair during the 2nd quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV increased its position in HF Sinclair by 82.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 820 shares of the company's stock worth $37,000 after purchasing an additional 370 shares during the period. Finally, Coastline Trust Co acquired a new position in HF Sinclair during the third quarter worth $55,000. 88.29% of the stock is owned by hedge funds and other institutional investors.

HF Sinclair Trading Down 1.8 %

Shares of HF Sinclair stock traded down $0.73 during mid-day trading on Wednesday, hitting $39.75. 1,934,726 shares of the stock were exchanged, compared to its average volume of 2,002,884. HF Sinclair Co. has a twelve month low of $38.25 and a twelve month high of $64.16. The company has a 50-day simple moving average of $42.97 and a 200 day simple moving average of $47.49. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 24.98 and a beta of 1.20. The company has a current ratio of 1.81, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.21 billion for the quarter, compared to analyst estimates of $7.11 billion. During the same period last year, the company earned $4.06 EPS. The firm's quarterly revenue was down 19.1% on a year-over-year basis. Research analysts forecast that HF Sinclair Co. will post 2.35 EPS for the current year.

HF Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.00 annualized dividend and a dividend yield of 5.03%. HF Sinclair's dividend payout ratio is presently 123.46%.

Insider Activity

In other news, Director Franklin Myers acquired 5,000 shares of the firm's stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $38.76 per share, with a total value of $193,800.00. Following the transaction, the director now directly owns 145,293 shares in the company, valued at approximately $5,631,556.68. This represents a 3.56 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DINO. JPMorgan Chase & Co. lowered their price target on shares of HF Sinclair from $60.00 to $51.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 2nd. Wells Fargo & Company lowered their target price on shares of HF Sinclair from $54.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. BMO Capital Markets lowered their price target on HF Sinclair from $57.00 to $53.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Barclays lowered their price target on HF Sinclair from $44.00 to $42.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Finally, Mizuho lowered their target price on HF Sinclair from $53.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, HF Sinclair has a consensus rating of "Moderate Buy" and an average target price of $54.27.

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.