HF Sinclair (NYSE:DINO) Given New $119.00 Price Target at Mizuho

Key Points

• Mizuho raised HF Sinclair’s price target from $85 to $119 while maintaining a “neutral” rating, implying approximately 3% upside from the prior close. Analysts overall rate the stock “Moderate Buy,” with an average target of $97.67.
• HF Sinclair reported strong quarterly results, posting $5.31 in EPS versus the $4.49 consensus estimate and revenue of $10.39 billion, up 53.2% year over year and above expectations.
• The stock opened at $115.59, near its 52-week high of $118.39, with a market capitalization of $20.55 billion. Institutional investors own 88.29% of shares, while an insider recently reduced his position by selling 8,936 shares.

HF Sinclair (NYSE:DINO - Get Free Report) had its price target lifted by research analysts at Mizuho from $85.00 to $119.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's price target would indicate a potential upside of 2.95% from the company's previous close.

DINO has been the subject of several other reports. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $114.00 price objective on shares of HF Sinclair in a research note on Wednesday, July 29th. Barclays lifted their target price on shares of HF Sinclair from $81.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 29th. Evercore assumed coverage on shares of HF Sinclair in a report on Friday, July 17th. They issued an "in-line" rating and a $85.00 target price for the company. Weiss Ratings raised HF Sinclair from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 4th. Finally, UBS Group upped their price target on shares of HF Sinclair from $126.00 to $133.00 and gave the stock a "buy" rating in a research report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $97.67.

HF Sinclair Stock Up 0.9%

NYSE DINO opened at $115.59 on Thursday. The business has a fifty day moving average price of $101.24 and a 200 day moving average price of $80.83. The company has a market cap of $20.55 billion, a P/E ratio of 11.03 and a beta of 0.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.10 and a current ratio of 1.97. HF Sinclair has a one year low of $45.71 and a one year high of $118.39.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.82. HF Sinclair had a return on equity of 18.21% and a net margin of 6.13%.The company had revenue of $10.39 billion during the quarter, compared to analysts' expectations of $8.68 billion. During the same period in the prior year, the business earned $1.10 EPS. The firm's quarterly revenue was up 53.2% on a year-over-year basis. Research analysts anticipate that HF Sinclair will post 18.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Dale Kunneman sold 8,936 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $755,806.88. Following the completion of the sale, the senior vice president directly owned 42,561 shares of the company's stock, valued at approximately $3,599,809.38. This represents a 17.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HF Sinclair

Several large investors have recently bought and sold shares of DINO. BlackRock Inc. bought a new position in shares of HF Sinclair during the 2nd quarter worth about $1,291,602,000. Bank of New York Mellon Corp bought a new position in HF Sinclair during the second quarter worth about $140,654,000. 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. Bank of America Corp DE acquired a new stake in HF Sinclair during the second quarter valued at approximately $89,846,000. Finally, First Trust Advisors LP grew its stake in shares of HF Sinclair by 161.5% in the 1st quarter. First Trust Advisors LP now owns 1,037,059 shares of the company's stock valued at $64,702,000 after purchasing an additional 640,455 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 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.

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