HF Sinclair (NYSE:DINO) Price Target Raised to $122.00

HF Sinclair (NYSE:DINO) had its target price boosted by Barclays from $86.00 to $122.00 in a report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

DINO has been the subject of a number of other reports. Zacks Research raised HF Sinclair from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Weiss Ratings raised HF Sinclair from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Mizuho boosted their price objective on HF Sinclair from $85.00 to $119.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Morgan Stanley increased their target price on HF Sinclair from $78.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, September 14th. Finally, Wells Fargo & Company increased their target price on HF Sinclair from $67.00 to $93.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 1st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, HF Sinclair presently has a consensus rating of “Moderate Buy” and an average target price of $106.50.

HF Sinclair Price Performance

Shares of HF Sinclair stock opened at $127.61 on Monday. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 13.30 and a beta of 0.72. The firm’s 50-day moving average price is $104.78 and its two-hundred day moving average price is $83.05. The company has a current ratio of 1.97, a quick ratio of 1.10 and a debt-to-equity ratio of 0.27. HF Sinclair has a 1-year low of $45.71 and a 1-year high of $129.37.

HF Sinclair (NYSE:DINO) last posted its earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.49 by $0.82. The company had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.68 billion. HF Sinclair had a net margin of 6.13% and a return on equity of 18.21%. HF Sinclair’s quarterly revenue was up 53.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. On average, equities analysts predict that HF Sinclair will post 18.15 earnings per share for the current fiscal year.

HF Sinclair Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.6%. This is an increase from HF Sinclair’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, August 11th. HF Sinclair’s payout ratio is currently 20.04%.

Insider Buying and Selling at HF Sinclair

In related news, SVP Dale Kunneman sold 8,936 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total value of $755,806.88. Following the completion of the sale, the senior vice president owned 42,561 shares of the company’s stock, valued at $3,599,809.38. This trade represents a 17.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DINO. BlackRock Inc. acquired a new position in shares of HF Sinclair during the second quarter valued at $1,291,602,000. Dimensional Fund Advisors LP boosted its holdings in HF Sinclair by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 9,249,939 shares of the company’s stock valued at $577,114,000 after acquiring an additional 103,135 shares during the last quarter. Bank of New York Mellon Corp increased its position in HF Sinclair by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 2,063,790 shares of the company’s stock worth $128,760,000 after purchasing an additional 75,798 shares during the period. NFJ Investment Group LLC acquired a new stake in HF Sinclair in the second quarter worth about $97,422,000. Finally, Bank of America Corp DE acquired a new stake in HF Sinclair in the second quarter worth about $89,846,000. 88.29% of the stock is currently owned by institutional investors.

HF Sinclair Company Profile

HF Sinclair Corporation is an independent energy company engaged in refining, marketing, and distributing petroleum products. The company produces gasoline, diesel fuel, jet fuel, asphalt, lubricants, and specialty products for commercial, industrial, and consumer markets. Its operations also include renewable energy activities, including the production and marketing of renewable diesel.

HF Sinclair markets fuel and related products through branded and unbranded channels under names that include Sinclair, HollyFrontier, and Petro-Canada Lubricants.