Franklin Resources Inc. Cuts Holdings in HF Sinclair Corporation $DINO

Franklin Resources Inc. decreased its position in HF Sinclair Corporation (NYSE:DINO) by 83.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,424 shares of the company’s stock after selling 194,187 shares during the period. Franklin Resources Inc.’s holdings in HF Sinclair were worth $1,620,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Kiker Wealth Management LLC purchased a new stake in shares of HF Sinclair during the second quarter valued at approximately $32,000. West Oak Capital LLC purchased a new stake in shares of HF Sinclair during the 2nd quarter valued at $38,000. Hilltop National Bank purchased a new stake in shares of HF Sinclair during the 2nd quarter valued at $46,000. Hantz Financial Services Inc. raised its stake in shares of HF Sinclair by 203.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,545 shares of the company’s stock worth $63,000 after purchasing an additional 1,036 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of HF Sinclair by 157.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,722 shares of the company’s stock worth $71,000 after buying an additional 1,054 shares during the last quarter. Institutional investors own 88.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of HF Sinclair in a report on Thursday, October 9th. Mizuho raised their price objective on shares of HF Sinclair from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. UBS Group lifted their price objective on shares of HF Sinclair from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Barclays increased their target price on HF Sinclair from $45.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Finally, Wells Fargo & Company assumed coverage on HF Sinclair in a research report on Friday, October 17th. They issued an “equal weight” rating and a $58.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, HF Sinclair presently has a consensus rating of “Hold” and a consensus target price of $59.18.

HF Sinclair Trading Down 2.6%

HF Sinclair stock opened at $50.37 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.97 and a current ratio of 1.91. HF Sinclair Corporation has a fifty-two week low of $24.66 and a fifty-two week high of $56.58. The stock has a market cap of $9.27 billion, a P/E ratio of 24.10 and a beta of 0.84. The firm’s fifty day moving average price is $52.95 and its 200-day moving average price is $47.24.

HF Sinclair (NYSE:DINO) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.50. The company had revenue of $7.25 billion during the quarter, compared to analyst estimates of $6.99 billion. HF Sinclair had a return on equity of 5.77% and a net margin of 1.46%.The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. Equities research analysts forecast that HF Sinclair Corporation will post 2.39 earnings per share for the current fiscal year.

HF Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $2.00 annualized dividend and a dividend yield of 4.0%. HF Sinclair’s payout ratio is presently 95.69%.

About HF Sinclair

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.