JPMorgan Chase & Co. Cuts HF Sinclair (NYSE:DINO) Price Target to $51.00

HF Sinclair (NYSE:DINO) had its price objective lowered by JPMorgan Chase & Co. from $60.00 to $51.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also recently weighed in on DINO. Wolfe Research assumed coverage on shares of HF Sinclair in a report on Thursday, July 18th. They issued a peer perform rating on the stock. Morgan Stanley reduced their target price on shares of HF Sinclair from $63.00 to $57.00 and set an overweight rating on the stock in a report on Monday, September 16th. UBS Group reduced their target price on shares of HF Sinclair from $73.00 to $70.00 and set a buy rating on the stock in a report on Tuesday, August 13th. Barclays raised their target price on shares of HF Sinclair from $51.00 to $53.00 and gave the company an equal weight rating in a report on Monday, August 5th. Finally, Argus raised shares of HF Sinclair to a hold rating in a report on Wednesday, June 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $57.82.

HF Sinclair Stock Down 2.0 %

Shares of DINO opened at $46.74 on Wednesday. The stock has a market capitalization of $8.98 billion, a PE ratio of 5.78 and a beta of 1.16. HF Sinclair has a 1 year low of $43.88 and a 1 year high of $64.16. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 2.12. The company’s 50-day simple moving average is $46.89 and its 200-day simple moving average is $52.34.

HF Sinclair (NYSE:DINO) last issued its earnings results on Thursday, August 1st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.65 billion. HF Sinclair had a net margin of 3.80% and a return on equity of 11.85%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $2.60 earnings per share. Analysts forecast that HF Sinclair will post 2.84 earnings per share for the current fiscal year.

HF Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.28%. HF Sinclair’s payout ratio is currently 24.75%.

Hedge Funds Weigh In On HF Sinclair

A number of hedge funds have recently modified their holdings of DINO. US Bancorp DE grew its position in shares of HF Sinclair by 16.4% during the fourth quarter. US Bancorp DE now owns 14,930 shares of the company’s stock worth $830,000 after acquiring an additional 2,107 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of HF Sinclair by 3.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 72,260 shares of the company’s stock worth $4,015,000 after acquiring an additional 2,227 shares during the last quarter. California State Teachers Retirement System grew its position in shares of HF Sinclair by 16.4% during the fourth quarter. California State Teachers Retirement System now owns 300,942 shares of the company’s stock worth $16,723,000 after acquiring an additional 42,470 shares during the last quarter. Rafferty Asset Management LLC grew its position in shares of HF Sinclair by 10.7% during the fourth quarter. Rafferty Asset Management LLC now owns 133,965 shares of the company’s stock worth $7,444,000 after acquiring an additional 12,957 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in HF Sinclair by 3.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 25,175 shares of the company’s stock valued at $1,399,000 after buying an additional 897 shares during the last quarter. 88.29% of the stock is currently owned by hedge funds and other 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.