HF Sinclair (NYSE:DINO) Price Target Raised to $50.00

HF Sinclair (NYSE:DINO) had its price objective hoisted by Morgan Stanley from $44.00 to $50.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also recently weighed in on DINO. Piper Sandler raised their price target on HF Sinclair from $43.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday. Scotiabank raised their price target on HF Sinclair from $49.00 to $61.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. TD Cowen raised their price target on HF Sinclair from $27.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, May 2nd. Wolfe Research cut HF Sinclair from a “peer perform” rating to an “underperform” rating in a research report on Monday. Finally, Wells Fargo & Company raised their price target on HF Sinclair from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.45.

HF Sinclair Price Performance

HF Sinclair stock opened at $43.93 on Wednesday. HF Sinclair has a 12 month low of $24.66 and a 12 month high of $52.88. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.87 and a quick ratio of 0.76. The business has a 50 day simple moving average of $39.72 and a 200-day simple moving average of $35.59. The stock has a market capitalization of $8.28 billion, a PE ratio of -57.05 and a beta of 0.93.

HF Sinclair (NYSE:DINO) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.14. The firm had revenue of $6.37 billion during the quarter, compared to analysts’ expectations of $6.72 billion. HF Sinclair had a positive return on equity of 0.05% and a negative net margin of 0.51%. HF Sinclair’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 earnings per share. Equities analysts predict that HF Sinclair will post 2.39 earnings per share for the current year.

HF Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend was Thursday, May 15th. HF Sinclair’s dividend payout ratio is currently -259.74%.

Hedge Funds Weigh In On HF Sinclair

Several hedge funds and other institutional investors have recently bought and sold shares of DINO. Kayne Anderson Rudnick Investment Management LLC acquired a new position in HF Sinclair during the 4th quarter worth approximately $31,000. Lee Danner & Bass Inc. acquired a new position in HF Sinclair during the 4th quarter worth approximately $32,000. EverSource Wealth Advisors LLC lifted its position in HF Sinclair by 53.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 934 shares of the company’s stock worth $33,000 after acquiring an additional 327 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in HF Sinclair during the 1st quarter worth approximately $35,000. Finally, West Oak Capital LLC purchased a new stake in HF Sinclair during the 2nd quarter worth approximately $38,000. 88.29% of the stock is owned by institutional investors and hedge funds.

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.