HF Sinclair (NYSE:DINO) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of HF Sinclair (NYSE:DINO) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday morning.

A number of other equities research analysts also recently commented on the company. Morgan Stanley raised their target price on HF Sinclair from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Raymond James Financial reiterated a “strong-buy” rating and set a $65.00 target price (up from $60.00) on shares of HF Sinclair in a research note on Friday, October 17th. TD Cowen increased their target price on HF Sinclair from $45.00 to $46.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. Zacks Research raised HF Sinclair from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of HF Sinclair in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.55.

HF Sinclair Trading Up 0.1%

NYSE DINO opened at $53.46 on Friday. The firm’s 50-day moving average is $52.24 and its two-hundred day moving average is $44.23. HF Sinclair has a 12 month low of $24.66 and a 12 month high of $55.63. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.82 and a quick ratio of 0.83. The stock has a market capitalization of $10.00 billion, a P/E ratio of -116.21 and a beta of 1.00.

HF Sinclair (NYSE:DINO) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.50. The business had revenue of $7.25 billion for the quarter, compared to analysts’ expectations of $6.99 billion. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.89%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, sell-side analysts anticipate 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 will be paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, November 19th. HF Sinclair’s dividend payout ratio is currently 95.69%.

Hedge Funds Weigh In On HF Sinclair

Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new position in HF Sinclair in the first quarter valued at approximately $1,123,000. Mutual Advisors LLC raised its holdings in HF Sinclair by 8.3% in the first quarter. Mutual Advisors LLC now owns 40,105 shares of the company’s stock worth $1,224,000 after purchasing an additional 3,083 shares during the period. Principal Financial Group Inc. raised its holdings in HF Sinclair by 2.2% in the first quarter. Principal Financial Group Inc. now owns 1,289,510 shares of the company’s stock worth $42,399,000 after purchasing an additional 27,764 shares during the period. D.A. Davidson & CO. acquired a new stake in HF Sinclair in the first quarter worth $237,000. Finally, Envestnet Asset Management Inc. raised its holdings in HF Sinclair by 47.3% in the first quarter. Envestnet Asset Management Inc. now owns 176,300 shares of the company’s stock worth $5,797,000 after purchasing an additional 56,596 shares during the period. 88.29% of the stock is currently owned by institutional investors and hedge funds.

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.