Morse Asset Management Inc Invests $1.56 Million in HF Sinclair Co. (NYSE:DINO)

Morse Asset Management Inc bought a new position in shares of HF Sinclair Co. (NYSE:DINO) during the third quarter, Holdings Channel reports. The fund bought 35,000 shares of the company’s stock, valued at approximately $1,560,000.

Several other hedge funds have also modified their holdings of the stock. Matrix Trust Co raised its holdings in HF Sinclair by 122.4% during the 3rd quarter. Matrix Trust Co now owns 576 shares of the company’s stock worth $26,000 after buying an additional 317 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of HF Sinclair during the third quarter valued at approximately $27,000. Innealta Capital LLC acquired a new stake in shares of HF Sinclair during the second quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV lifted its position in shares of HF Sinclair by 82.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 820 shares of the company’s stock valued at $37,000 after acquiring an additional 370 shares in the last quarter. Finally, Coastline Trust Co acquired a new position in HF Sinclair in the 3rd quarter worth approximately $55,000. 88.29% of the stock is owned by hedge funds and other institutional investors.

HF Sinclair Stock Down 2.7 %

DINO stock opened at $40.47 on Wednesday. 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 $7.61 billion, a PE ratio of 24.98 and a beta of 1.20. HF Sinclair Co. has a 1 year low of $38.25 and a 1 year high of $64.16. The company has a fifty day simple moving average of $42.97 and a 200 day simple moving average of $47.49.

HF Sinclair (NYSE:DINO) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $7.11 billion. During the same quarter in the prior year, the company posted $4.06 EPS. The firm’s revenue was down 19.1% on a year-over-year basis. Sell-side analysts anticipate that HF Sinclair Co. will post 2.35 EPS for the current fiscal year.

HF Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.00 annualized dividend and a yield of 4.94%. HF Sinclair’s dividend payout ratio (DPR) is presently 123.46%.

Insider Activity

In other news, Director Franklin Myers bought 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $38.76 per share, for a total transaction of $193,800.00. Following the purchase, the director now owns 145,293 shares of the company’s stock, valued at $5,631,556.68. This represents a 3.56 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on DINO. Morgan Stanley cut their target price on shares of HF Sinclair from $63.00 to $57.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Barclays reduced their price objective on HF Sinclair from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Wells Fargo & Company lowered their target price on HF Sinclair from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Mizuho reduced their price target on shares of HF Sinclair from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Finally, UBS Group lowered their price objective on shares of HF Sinclair from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.27.

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.