HF Sinclair (NYSE:DINO) Price Target Cut to $51.00

HF Sinclair (NYSE:DINO) had its target price reduced by JPMorgan Chase & Co. from $60.00 to $51.00 in a research report released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler reduced their target price on HF Sinclair from $58.00 to $49.00 and set an overweight rating for the company in a report on Friday, September 20th. Argus raised HF Sinclair to a hold rating in a report on Wednesday, June 26th. Wells Fargo & Company reduced their target price on HF Sinclair from $60.00 to $54.00 and set an overweight rating for the company in a report on Tuesday, September 3rd. Barclays lifted their price target on HF Sinclair from $51.00 to $53.00 and gave the stock an equal weight rating in a research note on Monday, August 5th. Finally, Wolfe Research assumed coverage on HF Sinclair in a research note on Thursday, July 18th. They set a peer perform rating for the company. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, HF Sinclair presently has a consensus rating of Moderate Buy and a consensus price target of $57.82.

HF Sinclair Price Performance

HF Sinclair stock opened at $46.74 on Wednesday. HF Sinclair has a one year low of $43.88 and a one 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 business has a fifty day moving average of $46.89 and a two-hundred day moving average of $52.34. The company has a market cap of $8.98 billion, a P/E ratio of 5.78 and a beta of 1.16.

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

HF Sinclair Announces Dividend

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

Hedge Funds Weigh In On HF Sinclair

A number of institutional investors have recently modified their holdings of DINO. Nordea Investment Management AB increased its stake in 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 purchasing an additional 148,208 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of HF Sinclair by 9.3% during the 4th 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 during the last quarter. Cetera Advisors LLC purchased a new position in shares of HF Sinclair during the 1st quarter worth about $1,146,000. Oppenheimer & Co. Inc. boosted its position in shares of HF Sinclair by 99.4% in the first quarter. Oppenheimer & Co. Inc. now owns 37,891 shares of the company’s stock worth $2,287,000 after acquiring an additional 18,886 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of HF Sinclair in the first quarter worth approximately $3,891,000. Institutional investors and hedge funds own 88.29% of the company’s stock.

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.