Institutional Stakes Shift as Kornitzer Capital Trims HF Sinclair Holdings
Kornitzer Capital Management Inc. trimmed its holdings in HF Sinclair Corporation by 3.0% during the third quarter, according to a 13F filing with the Securities and Exchange Commission reported by MarketBeat. The institutional investor sold 13,877 shares during the period, leaving it with 449,218 shares valued at approximately $48,210,000. That position accounts for roughly 0.26% of the energy company’s total stock.
Other institutional investors adjusted their positions in the refining company during the same three-month window. Pictet Asset Management Holding SA boosted its stake by 1.9% to own 24,382 shares worth $2,617,000, while Parallel Advisors LLC grew its holdings by 2.2% to 5,921 shares valued at $635,000. Alps Advisors Inc., Ashton Thomas Private Wealth LLC, and CenterBook Partners LP all established new stakes in the firm during the third quarter, committing $583,000, $1,000,000, and $441,000 respectively. Institutional investors and hedge funds collectively own 88.29% of the company’s stock.
HF Sinclair Shares Open at $97.34 with $16.68 Billion Market Cap
Shares of HF Sinclair, traded on the New York Stock Exchange under the ticker symbol DINO, opened at $97.34. The company carries a market capitalization of $16.68 billion, a price-to-earnings ratio of 4.94, and a beta of 0.73. Its 50-day moving average stands at $112.80, with its 200-day moving average resting at $79.60. The stock has recorded a 1-year low of $45.71 and a 1-year high of $129.37, while maintaining a debt-to-equity ratio of 0.24, a current ratio of 2.27, and a quick ratio of 1.40. The adjustments in institutional portfolios follow the company’s quarterly earnings data. HF Sinclair posted $11.75 earnings per share for the quarter, surpassing the consensus analyst estimate of $7.83 by $3.92. Revenue reached $10.86 billion, beating analyst expectations of $8.89 billion and marking a 49.7% increase compared to the same period in the previous year, when earnings sat at $2.44 per share. The business recorded a net margin of 10.12% and a return on equity of 32.95%, leading analysts to project 22.32 EPS for the current year.
Shareholders Receive Quarterly Dividend of $0.5250 per Share
Shareholders will receive a quarterly dividend of $0.5250 per share on Wednesday, December 2. Shareholders of record as of Thursday, November 12, qualified for the distribution, with the ex-dividend date also falling on November 12. The payout amounts to $2.10 on an annualized basis, representing a yield of 2.2% against a dividend payout ratio of 10.65%.
Financial institutions have frequently updated their price targets and ratings for the stock. UBS Group raised its price target from $126.00 to $133.00 with a buy rating on October 3, and The Goldman Sachs Group increased its target from $114.00 to $142.00 with a buy rating on October 9. TD Cowen lifted its price objective from $100.00 to $110.00 with a hold rating on October 22. Conversely, Freedom Capital downgraded the stock from a hold to a strong sell on July 28, and Evercore assumed coverage with an in-line rating and an $85.00 price target on July 17. MarketBeat data indicates the stock holds an average rating of Moderate Buy alongside an average consensus price target of $116.00.