HF Sinclair (NYSE:DINO) Lowered to Equal Weight Rating by Wells Fargo & Company

HF Sinclair (NYSE:DINO) was downgraded by investment analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat reports. They presently have a $45.00 price target on the stock, down from their previous price target of $53.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 16.28% from the stock’s previous close.

A number of other research firms have also commented on DINO. BMO Capital Markets lowered their target price on shares of HF Sinclair from $57.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Scotiabank decreased their price target on shares of HF Sinclair from $66.00 to $57.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Morgan Stanley decreased their price target on shares of HF Sinclair from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Piper Sandler decreased their price target on shares of HF Sinclair from $58.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Finally, Mizuho decreased their price target on shares of HF Sinclair from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, HF Sinclair currently has a consensus rating of “Hold” and an average target price of $53.45.

HF Sinclair Price Performance

DINO opened at $38.70 on Monday. The company has a fifty day moving average price of $42.51 and a two-hundred day moving average price of $47.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.81. HF Sinclair has a 52 week low of $38.25 and a 52 week high of $64.16. The firm has a market capitalization of $7.28 billion, a PE ratio of 24.32 and a beta of 1.20.

HF Sinclair (NYSE:DINO) last released its earnings results on Thursday, October 31st. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. HF Sinclair had a net margin of 1.10% and a return on equity of 5.51%. The firm had revenue of $7.21 billion during the quarter, compared to analyst estimates of $7.11 billion. During the same quarter in the previous year, the business earned $4.06 EPS. The business’s quarterly revenue was down 19.1% compared to the same quarter last year. As a group, analysts anticipate that HF Sinclair will post 2.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Franklin Myers acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $38.76 per share, for a total transaction of $193,800.00. Following the acquisition, the director now directly owns 145,293 shares of the company’s stock, valued at approximately $5,631,556.68. The trade was a 3.56 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On HF Sinclair

Several hedge funds have recently modified their holdings of DINO. V Square Quantitative Management LLC lifted its stake in HF Sinclair by 11.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,262 shares of the company’s stock valued at $101,000 after purchasing an additional 226 shares during the last quarter. Empirical Finance LLC lifted its stake in HF Sinclair by 1.2% in the 2nd quarter. Empirical Finance LLC now owns 19,300 shares of the company’s stock valued at $1,029,000 after purchasing an additional 228 shares during the last quarter. Fifth Third Bancorp lifted its stake in HF Sinclair by 6.7% in the 2nd quarter. Fifth Third Bancorp now owns 4,258 shares of the company’s stock valued at $227,000 after purchasing an additional 267 shares during the last quarter. Matrix Trust Co lifted its stake in HF Sinclair by 122.4% in the 3rd quarter. Matrix Trust Co now owns 576 shares of the company’s stock valued at $26,000 after purchasing an additional 317 shares during the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in HF Sinclair by 7.5% in the 2nd quarter. iA Global Asset Management Inc. now owns 4,882 shares of the company’s stock valued at $260,000 after purchasing an additional 342 shares during the last quarter. Institutional investors own 88.29% of the company’s stock.

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.