TD Cowen Lowers HF Sinclair (NYSE:DINO) Price Target to $35.00

HF Sinclair (NYSE:DINO) had its price target lowered by TD Cowen from $43.00 to $35.00 in a report issued on Wednesday, Marketbeat reports. The brokerage currently has a hold rating on the stock.

DINO has been the subject of a number of other research reports. Wells Fargo & Company lowered shares of HF Sinclair from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $53.00 to $45.00 in a report on Monday, December 9th. Scotiabank decreased their target price on HF Sinclair from $66.00 to $57.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. UBS Group cut their price target on HF Sinclair from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Morgan Stanley lowered their price objective on shares of HF Sinclair from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, Piper Sandler reduced 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. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, HF Sinclair currently has an average rating of “Hold” and an average price target of $51.45.

HF Sinclair Price Performance

HF Sinclair stock traded down $0.39 during mid-day trading on Wednesday, reaching $34.31. 191,840 shares of the company’s stock traded hands, compared to its average volume of 2,005,236. The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 0.24. HF Sinclair has a 12-month low of $34.23 and a 12-month high of $64.16. The stock has a 50 day moving average of $41.31 and a two-hundred day moving average of $46.18. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 21.18 and a beta of 1.20.

HF Sinclair (NYSE:DINO) last announced its earnings results on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.19. HF Sinclair had a net margin of 1.10% and a return on equity of 5.51%. The business had revenue of $7.21 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter in the prior year, the firm posted $4.06 earnings per share. The business’s revenue for the quarter was down 19.1% on a year-over-year basis. Equities analysts forecast that HF Sinclair will post 2.27 earnings per share for the current year.

HF Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.83%. The ex-dividend date was Thursday, November 21st. HF Sinclair’s dividend payout ratio is presently 123.46%.

Insider Transactions at HF Sinclair

In related news, Director Franklin Myers purchased 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $38.76 per share, with a total value of $193,800.00. Following the transaction, the director now owns 145,293 shares of the company’s stock, valued at approximately $5,631,556.68. This trade represents a 3.56 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Atanas H. Atanasov acquired 7,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $37.96 per share, with a total value of $265,720.00. Following the completion of the transaction, the chief financial officer now directly owns 71,927 shares of the company’s stock, valued at approximately $2,730,348.92. This represents a 10.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.

Institutional Trading of HF Sinclair

Several large investors have recently made changes to their positions in DINO. Pacer Advisors Inc. grew its stake in HF Sinclair by 58.3% during the 2nd quarter. Pacer Advisors Inc. now owns 7,784,939 shares of the company’s stock valued at $415,249,000 after acquiring an additional 2,868,273 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of HF Sinclair by 54.9% in the 2nd quarter. AQR Capital Management LLC now owns 2,816,084 shares of the company’s stock valued at $147,873,000 after purchasing an additional 997,629 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of HF Sinclair by 90.2% during the 2nd quarter. Squarepoint Ops LLC now owns 849,553 shares of the company’s stock worth $45,315,000 after purchasing an additional 402,793 shares during the period. Dimensional Fund Advisors LP increased its position in shares of HF Sinclair by 7.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,749,406 shares of the company’s stock worth $306,665,000 after purchasing an additional 399,988 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in HF Sinclair in the 2nd quarter valued at about $12,001,000. 88.29% of the stock is currently owned by hedge funds and other institutional investors.

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.