Norges Bank Buys New Position in HF Sinclair Co. (NYSE:DINO)

Norges Bank bought a new position in shares of HF Sinclair Co. (NYSE:DINO - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,178,791 shares of the company's stock, valued at approximately $41,317,000. Norges Bank owned approximately 0.63% of HF Sinclair at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DINO. Charles Schwab Investment Management Inc. lifted its position in shares of HF Sinclair by 12.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,512,051 shares of the company's stock valued at $193,197,000 after buying an additional 617,218 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in HF Sinclair by 114.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,114,575 shares of the company's stock valued at $74,116,000 after acquiring an additional 1,126,825 shares in the last quarter. Amundi grew its holdings in HF Sinclair by 132.3% in the fourth quarter. Amundi now owns 1,748,994 shares of the company's stock worth $61,025,000 after purchasing an additional 996,155 shares during the last quarter. FMR LLC lifted its holdings in shares of HF Sinclair by 13.8% during the 3rd quarter. FMR LLC now owns 1,167,209 shares of the company's stock valued at $52,023,000 after purchasing an additional 141,472 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of HF Sinclair by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 849,117 shares of the company's stock worth $37,845,000 after purchasing an additional 33,373 shares in the last quarter. Hedge funds and other institutional investors own 88.29% of the company's stock.

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Insiders Place Their Bets

In other news, Director Franklin Myers purchased 5,000 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $35.66 per share, for a total transaction of $178,300.00. Following the completion of the purchase, the director now directly owns 154,065 shares in the company, valued at $5,493,957.90. The trade was a 3.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.28% of the stock is owned by insiders.

HF Sinclair Stock Performance

Shares of HF Sinclair stock traded up $2.72 on Wednesday, hitting $28.63. The stock had a trading volume of 5,518,612 shares, compared to its average volume of 2,346,029. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 34.91 and a beta of 1.00. 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 Co. has a 52-week low of $24.72 and a 52-week high of $62.19. The company's 50 day moving average price is $33.64 and its 200 day moving average price is $37.68.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.02) earnings per share (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 business had revenue of $6.50 billion for the quarter, compared to analysts' expectations of $6.56 billion. On average, research analysts anticipate that HF Sinclair Co. will post 2.39 EPS for the current year.

HF Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.50 dividend. The ex-dividend date was Thursday, March 6th. This represents a $2.00 annualized dividend and a yield of 6.99%. HF Sinclair's dividend payout ratio is currently 243.90%.

Analyst Ratings Changes

A number of research analysts have issued reports on DINO shares. JPMorgan Chase & Co. decreased their price target on shares of HF Sinclair from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Tuesday, December 10th. Morgan Stanley cut their price objective on HF Sinclair from $51.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. TD Cowen decreased their target price on HF Sinclair from $43.00 to $35.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Barclays reduced their price target on shares of HF Sinclair from $37.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, March 14th. Finally, Wells Fargo & Company increased their price objective on shares of HF Sinclair from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $46.50.

HF Sinclair Company 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.