Wells Fargo & Company Trims HF Sinclair (NYSE:DINO) Target Price to $61.00

HF Sinclair (NYSE:DINO) had its target price cut by Wells Fargo & Company from $75.00 to $61.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on DINO. Scotiabank upped their price target on shares of HF Sinclair from $58.00 to $66.00 and gave the company a sector outperform rating in a report on Thursday, April 11th. Piper Sandler reduced their price target on shares of HF Sinclair from $65.00 to $58.00 and set an overweight rating for the company in a report on Friday, June 14th. Bank of America raised shares of HF Sinclair from a neutral rating to a buy rating and boosted their price objective for the stock from $62.00 to $78.00 in a research report on Friday, March 15th. Barclays cut their price objective on shares of HF Sinclair from $56.00 to $51.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. Finally, Argus raised shares of HF Sinclair to a hold rating in a research report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, HF Sinclair presently has an average rating of Moderate Buy and a consensus target price of $62.67.

HF Sinclair Stock Up 0.2 %

Shares of NYSE DINO opened at $48.17 on Friday. The stock has a market cap of $9.26 billion, a P/E ratio of 5.96 and a beta of 1.19. The firm has a 50 day moving average price of $53.85 and a 200 day moving average price of $56.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.09 and a current ratio of 2.17. HF Sinclair has a 52-week low of $45.63 and a 52-week high of $64.16.

HF Sinclair (NYSE:DINO) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.16. The company had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $7.54 billion. HF Sinclair had a net margin of 4.94% and a return on equity of 15.10%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.00 earnings per share. Analysts expect that HF Sinclair will post 5.07 EPS for the current year.

HF Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Tuesday, May 21st. HF Sinclair’s payout ratio is presently 24.75%.

Insider Activity

In related news, Director Franklin Myers acquired 6,500 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were bought at an average cost of $57.37 per share, with a total value of $372,905.00. Following the completion of the transaction, the director now directly owns 138,293 shares of the company’s stock, valued at $7,933,869.41. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On HF Sinclair

Large investors have recently modified their holdings of the stock. Nordea Investment Management AB grew its stake in shares of HF Sinclair by 424.5% in the first quarter. Nordea Investment Management AB now owns 183,123 shares of the company’s stock valued at $11,037,000 after acquiring an additional 148,208 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of HF Sinclair by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,345,088 shares of the company’s stock valued at $297,027,000 after acquiring an additional 98,477 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of HF Sinclair by 9.3% in the fourth quarter. Vanguard Group Inc. now owns 18,214,568 shares of the company’s stock valued at $1,012,184,000 after acquiring an additional 1,549,091 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of HF Sinclair in the first quarter valued at about $3,891,000. Finally, California State Teachers Retirement System grew its stake in shares of HF Sinclair by 16.4% in the fourth quarter. California State Teachers Retirement System now owns 300,942 shares of the company’s stock valued at $16,723,000 after acquiring an additional 42,470 shares in the last quarter. 88.29% of the stock is owned by institutional investors.

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.