Raymond James Financial Boosts HF Sinclair (NYSE:DINO) Price Target to $60.00

Key Points

• Raymond James Financial has raised its price target for HF Sinclair (NYSE:DINO) from $57.00 to $60.00, indicating a potential upside of 15.11%. The stock currently holds a "strong-buy" rating from the brokerage.
• HF Sinclair reported $1.70 earnings per share for the last quarter, exceeding the consensus estimate by $0.61, despite a year-over-year revenue decline of 13.5% to $6.78 billion.
• Institutional investors hold approximately 88.29% of HF Sinclair's stock, reflecting robust investment interest from large financial entities.

HF Sinclair (NYSE:DINO - Free Report) had its price target increased by Raymond James Financial from $57.00 to $60.00 in a research report released on Tuesday morning, MarketBeat reports. The firm currently has a strong-buy rating on the stock.

A number of other equities analysts also recently issued reports on DINO. UBS Group raised their price objective on HF Sinclair from $51.00 to $58.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Piper Sandler cut HF Sinclair from an "overweight" rating to a "neutral" rating and cut their target price for the company from $53.00 to $51.00 in a research report on Tuesday, July 22nd. Wells Fargo & Company lifted their price target on HF Sinclair from $34.00 to $38.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 11th. Mizuho boosted their target price on HF Sinclair from $50.00 to $52.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded HF Sinclair from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.82.

HF Sinclair Stock Performance

DINO traded down $0.61 during trading hours on Tuesday, reaching $51.11. The company's stock had a trading volume of 1,923,025 shares, compared to its average volume of 2,357,190. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.82. The company's 50-day moving average is $46.43 and its 200-day moving average is $38.51. HF Sinclair has a 52 week low of $24.66 and a 52 week high of $53.14. The firm has a market cap of $9.56 billion, a PE ratio of -111.11 and a beta of 1.07.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.61. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.93 billion. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%.The company's revenue for the quarter was down 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. On average, equities analysts forecast that HF Sinclair will post 2.39 EPS for the current year.

HF Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.9%. HF Sinclair's dividend payout ratio (DPR) is presently -434.78%.

Insider Activity at HF Sinclair

In related news, EVP Valerie Pompa sold 11,000 shares of HF Sinclair stock in a transaction on Friday, August 1st. The stock was sold at an average price of $42.53, for a total transaction of $467,830.00. Following the transaction, the executive vice president directly owned 39,591 shares in the company, valued at approximately $1,683,805.23. The trade was a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On HF Sinclair

A number of hedge funds have recently made changes to their positions in DINO. Dimensional Fund Advisors LP boosted its holdings in shares of HF Sinclair by 19.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,185,509 shares of the company's stock valued at $269,142,000 after purchasing an additional 1,337,093 shares during the period. Charles Schwab Investment Management Inc. grew its position in HF Sinclair by 5.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,225,992 shares of the company's stock worth $255,764,000 after purchasing an additional 298,735 shares during the period. AQR Capital Management LLC grew its position in shares of HF Sinclair by 109.8% during the 1st quarter. AQR Capital Management LLC now owns 4,986,355 shares of the company's stock valued at $163,951,000 after acquiring an additional 2,609,857 shares during the period. Geode Capital Management LLC lifted its stake in HF Sinclair by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,895,333 shares of the company's stock valued at $118,969,000 after buying an additional 27,548 shares in the last quarter. Finally, Southeastern Asset Management Inc. TN purchased a new position in HF Sinclair in the 4th quarter worth approximately $96,344,000. 88.29% of the stock is currently owned by hedge funds and other institutional investors.

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.