Raymond James Financial Issues Positive Forecast for HF Sinclair (NYSE:DINO) Stock Price

HF Sinclair (NYSE:DINO) had its price target lifted by Raymond James Financial from $66.00 to $75.00 in a report published on Wednesday morning,Benzinga reports. They currently have a strong-buy rating on the stock.

Several other research firms have also issued reports on DINO. Morgan Stanley set a $57.00 price target on shares of HF Sinclair in a research report on Thursday, February 19th. Piper Sandler cut their price objective on shares of HF Sinclair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of HF Sinclair in a research note on Monday, December 29th. Scotiabank downgraded HF Sinclair from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $62.00 to $53.00 in a research report on Wednesday, February 18th. Finally, BMO Capital Markets lowered their price target on HF Sinclair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.18.

HF Sinclair Stock Down 0.8%

DINO opened at $60.92 on Wednesday. HF Sinclair has a 1-year low of $24.66 and a 1-year high of $62.46. The company has a current ratio of 1.94, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 19.84 and a beta of 0.83. The business has a 50 day moving average of $54.34 and a 200-day moving average of $52.40.

HF Sinclair (NYSE:DINO) last announced its earnings results on Wednesday, February 18th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.37. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.19 billion. HF Sinclair had a net margin of 2.15% and a return on equity of 10.20%. HF Sinclair’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.02) earnings per share. As a group, sell-side analysts anticipate that HF Sinclair will post 2.39 earnings per share for the current year.

HF Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, March 2nd. HF Sinclair’s payout ratio is 65.15%.

Institutional Trading of HF Sinclair

Several institutional investors have recently made changes to their positions in the business. NFJ Investment Group LLC lifted its stake in HF Sinclair by 1,275.3% during the fourth quarter. NFJ Investment Group LLC now owns 1,873,541 shares of the company’s stock worth $86,333,000 after purchasing an additional 1,737,318 shares during the period. Encompass Capital Advisors LLC bought a new stake in shares of HF Sinclair in the 2nd quarter valued at approximately $70,437,000. Invesco Ltd. grew its stake in shares of HF Sinclair by 104.3% in the 3rd quarter. Invesco Ltd. now owns 1,947,075 shares of the company’s stock valued at $101,910,000 after purchasing an additional 994,090 shares during the period. Victory Capital Management Inc. raised its holdings in shares of HF Sinclair by 101.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,794,964 shares of the company’s stock worth $82,712,000 after buying an additional 903,177 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its stake in HF Sinclair by 1,068.6% in the 2nd quarter. Engineers Gate Manager LP now owns 786,606 shares of the company’s stock valued at $32,314,000 after buying an additional 719,292 shares in the last quarter. 88.29% of the stock is currently owned by institutional investors and hedge funds.

About HF Sinclair

HF Sinclair Corporation is a diversified energy manufacturing company engaged in the refining, marketing, and transportation of petroleum products across the United States. The company operates a network of refineries and processing facilities that convert crude oil and other feedstocks into fuels and specialty products. Its integrated model encompasses upstream supply agreements, midstream logistics, and downstream marketing channels, positioning HF Sinclair as a key supplier of refined products to wholesale and retail markets.

The company’s core product slate includes gasoline, diesel, jet fuel, and renewable fuels such as renewable diesel and biodiesel.