HF Sinclair (NYSE:DINO) Cut to Hold at Zacks Research

Zacks Research downgraded shares of HF Sinclair (NYSE:DINO) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

A number of other research firms have also recently commented on DINO. TD Cowen boosted their price target on shares of HF Sinclair from $45.00 to $46.00 and gave the stock a “hold” rating in a research note on Friday, August 1st. Mizuho lifted their price objective on shares of HF Sinclair from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Wolfe Research cut HF Sinclair from a “peer perform” rating to an “underperform” rating in a research note on Monday, July 14th. Wall Street Zen raised HF Sinclair from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Scotiabank reiterated an “outperform” rating on shares of HF Sinclair in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.73.

HF Sinclair Price Performance

HF Sinclair stock opened at $54.23 on Monday. HF Sinclair has a 52 week low of $24.66 and a 52 week high of $56.24. The business has a 50-day simple moving average of $52.64 and a 200 day simple moving average of $45.15. The company has a quick ratio of 0.83, a current ratio of 1.82 and a debt-to-equity ratio of 0.29. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of -117.89 and a beta of 0.99.

HF Sinclair (NYSE:DINO) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.50. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%.The firm had revenue of $7.25 billion for the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter last year, the firm posted $0.51 EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, research analysts forecast that HF Sinclair will post 2.39 earnings per share for the current fiscal year.

HF Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, November 19th. HF Sinclair’s payout ratio is 95.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in HF Sinclair by 6.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,259,238 shares of the company’s stock valued at $484,631,000 after buying an additional 560,194 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of HF Sinclair by 5.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 6,225,992 shares of the company’s stock valued at $255,764,000 after acquiring an additional 298,735 shares during the period. AQR Capital Management LLC raised its stake in shares of HF Sinclair by 109.8% during the first quarter. AQR Capital Management LLC now owns 4,986,355 shares of the company’s stock valued at $163,951,000 after acquiring an additional 2,609,857 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of HF Sinclair by 1.0% during the second quarter. Geode Capital Management LLC now owns 2,895,333 shares of the company’s stock worth $118,969,000 after purchasing an additional 27,548 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of HF Sinclair by 1.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,543,741 shares of the company’s stock worth $83,638,000 after purchasing an additional 36,592 shares during the period. Institutional investors 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.