Connor Clark & Lunn Investment Management Ltd. Takes $3 Million Position in HF Sinclair Co. (NYSE:DINO)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of HF Sinclair Co. (NYSE:DINO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 85,619 shares of the company’s stock, valued at approximately $3,001,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in shares of HF Sinclair by 53.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 934 shares of the company’s stock valued at $33,000 after acquiring an additional 327 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in HF Sinclair by 2.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,091 shares of the company’s stock valued at $669,000 after purchasing an additional 367 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in HF Sinclair by 0.6% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 64,275 shares of the company’s stock valued at $2,253,000 after purchasing an additional 390 shares in the last quarter. Evergreen Private Wealth LLC raised its holdings in HF Sinclair by 1.5% during the fourth quarter. Evergreen Private Wealth LLC now owns 26,754 shares of the company’s stock worth $938,000 after buying an additional 392 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of HF Sinclair by 33.4% in the fourth quarter. IFP Advisors Inc now owns 1,666 shares of the company’s stock valued at $58,000 after buying an additional 417 shares in the last quarter. Institutional investors own 88.29% of the company’s stock.

Wall Street Analyst Weigh In

DINO has been the subject of several recent research reports. Barclays decreased their target price 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. Piper Sandler set a $46.00 price objective on HF Sinclair in a research note on Friday, March 7th. JPMorgan Chase & Co. cut their target price on HF Sinclair from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. TD Cowen lowered their price target on HF Sinclair from $43.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company downgraded shares of HF Sinclair from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $53.00 to $45.00 in a report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.10.

HF Sinclair Price Performance

Shares of NYSE:DINO opened at $33.52 on Tuesday. The company has a market capitalization of $6.31 billion, a P/E ratio of 40.87 and a beta of 1.13. The company’s 50-day moving average is $35.48 and its 200 day moving average is $39.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.81. HF Sinclair Co. has a fifty-two week low of $29.85 and a fifty-two week high of $64.16.

HF Sinclair (NYSE:DINO) last released its earnings results on Thursday, February 20th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.11). HF Sinclair had a net margin of 0.62% and a return on equity of 1.98%. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.56 billion. On average, equities research analysts forecast that HF Sinclair Co. will post 2.39 earnings per share for the current year.

HF Sinclair Announces Dividend

The company 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 dividend yield of 5.97%. HF Sinclair’s payout ratio is presently 243.90%.

Insider Activity

In other news, CFO Atanas H. Atanasov acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was bought 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 owns 78,927 shares in the company, valued at $2,665,364.79. The trade was a 6.76 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought 10,635 shares of company stock valued at $367,140 in the last 90 days. Insiders own 0.28% of the company’s stock.

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.