HF Sinclair (NYSE:DINO) Price Target Cut to $60.00 by Analysts at Wells Fargo & Company

HF Sinclair (NYSE:DINO) had its target price lowered by Wells Fargo & Company from $61.00 to $60.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on DINO. Mizuho dropped their target price on shares of HF Sinclair from $64.00 to $61.00 and set a neutral rating for the company in a report on Thursday, June 20th. Argus upgraded shares of HF Sinclair to a hold rating in a research report on Wednesday, June 26th. Wolfe Research assumed coverage on shares of HF Sinclair in a research report on Thursday, July 18th. They issued a peer perform rating on the stock. Piper Sandler lowered their price target on shares of HF Sinclair from $65.00 to $58.00 and set an overweight rating on the stock in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. lowered their price target on shares of HF Sinclair from $61.00 to $59.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, HF Sinclair currently has a consensus rating of Moderate Buy and an average price target of $62.75.

HF Sinclair Stock Performance

NYSE DINO traded up $0.62 during trading hours on Friday, hitting $46.70. 755,384 shares of the stock were exchanged, compared to its average volume of 1,970,107. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 5.76 and a beta of 1.19. HF Sinclair has a 12-month low of $44.09 and a 12-month high of $64.16. The stock has a 50-day moving average of $51.42 and a 200 day moving average of $55.53. The company has a quick ratio of 1.09, a current ratio of 2.17 and a debt-to-equity ratio of 0.26.

HF Sinclair (NYSE:DINO) last issued its earnings results on Thursday, August 1st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. HF Sinclair had a net margin of 3.80% and a return on equity of 11.73%. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the company posted $2.60 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that HF Sinclair will post 3.85 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, September 5th. Investors of record on Wednesday, August 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.28%. HF Sinclair’s dividend payout ratio (DPR) is currently 24.75%.

Insider Buying and Selling

In related news, Director Franklin Myers purchased 6,500 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were bought at an average price of $57.37 per share, for a total transaction of $372,905.00. Following the acquisition, the director now directly owns 138,293 shares in the company, valued at $7,933,869.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On HF Sinclair

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of HF Sinclair by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 18,910,599 shares of the company’s stock valued at $1,141,633,000 after purchasing an additional 696,031 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of HF Sinclair by 1.9% in the 4th 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 during the period. AustralianSuper Pty Ltd raised its stake in shares of HF Sinclair by 15.3% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,502,271 shares of the company’s stock valued at $80,131,000 after acquiring an additional 199,881 shares during the period. Principal Financial Group Inc. raised its stake in shares of HF Sinclair by 1.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,455,962 shares of the company’s stock valued at $80,908,000 after acquiring an additional 17,934 shares during the period. Finally, Norges Bank purchased a new position in shares of HF Sinclair in the 4th quarter valued at $65,774,000. Institutional investors and hedge funds own 88.29% of the company’s stock.

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.