HF Sinclair (NYSE:DINO) Downgraded by Wells Fargo & Company to “Equal Weight”

HF Sinclair (NYSE:DINOGet Rating) was downgraded by Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a $55.00 target price on the stock, down from their previous target price of $62.00. Wells Fargo & Company‘s price target points to a potential upside of 5.24% from the stock’s previous close.

Several other research firms also recently issued reports on DINO. Morgan Stanley lifted their price target on shares of HF Sinclair from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, July 15th. Credit Suisse Group lifted their price target on shares of HF Sinclair to $64.00 in a research note on Thursday, June 9th. Barclays lifted their price target on shares of HF Sinclair from $51.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 16th. The Goldman Sachs Group lifted their price target on shares of HF Sinclair to $57.00 in a research note on Tuesday, September 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of HF Sinclair from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, July 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.38.

HF Sinclair Stock Performance

Shares of DINO stock opened at $52.26 on Wednesday. The company’s fifty day simple moving average is $50.13 and its 200-day simple moving average is $45.66. HF Sinclair has a 52 week low of $29.14 and a 52 week high of $58.50. The company has a current ratio of 1.89, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. The company has a market cap of $11.33 billion, a PE ratio of 6.70, a P/E/G ratio of 0.35 and a beta of 1.43.

HF Sinclair (NYSE:DINOGet Rating) last issued its earnings results on Monday, August 8th. The company reported $5.59 EPS for the quarter, beating analysts’ consensus estimates of $4.56 by $1.03. HF Sinclair had a net margin of 5.61% and a return on equity of 20.74%. The business had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter last year, the firm posted $0.87 EPS. The business’s revenue for the quarter was up 143.9% compared to the same quarter last year. As a group, equities research analysts anticipate that HF Sinclair will post 13.94 EPS for the current year.

Insider Activity

In other news, Director Manuel J. Fernandez sold 950 shares of HF Sinclair stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $55.31, for a total value of $52,544.50. Following the completion of the transaction, the director now directly owns 9,803 shares of the company’s stock, valued at approximately $542,203.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other HF Sinclair news, Director Manuel J. Fernandez sold 950 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $55.31, for a total transaction of $52,544.50. Following the completion of the transaction, the director now directly owns 9,803 shares of the company’s stock, valued at approximately $542,203.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Franklin Myers bought 4,800 shares of HF Sinclair stock in a transaction on Wednesday, August 17th. The shares were purchased at an average cost of $51.98 per share, with a total value of $249,504.00. Following the completion of the purchase, the director now directly owns 99,715 shares in the company, valued at $5,183,185.70. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

Institutional Trading of HF Sinclair

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Canton Hathaway LLC bought a new stake in shares of HF Sinclair during the 2nd quarter worth about $25,000. Bellwether Advisors LLC bought a new stake in shares of HF Sinclair in the 1st quarter worth approximately $29,000. Smith Group Asset Management LLC purchased a new position in shares of HF Sinclair in the first quarter worth approximately $29,000. M&T Bank Corp purchased a new position in shares of HF Sinclair in the first quarter worth approximately $29,000. Finally, Gradient Investments LLC purchased a new position in shares of HF Sinclair in the first quarter worth approximately $30,000. 89.58% of the stock is currently owned by institutional investors.

About HF Sinclair

(Get Rating)

HF Sinclair Corporation operates as an independent energy company. It produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, specialty and modified asphalt, and others. The company also 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.

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Analyst Recommendations for HF Sinclair (NYSE:DINO)

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