Raymond James Financial Forecasts Strong Price Appreciation for HF Sinclair (NYSE:DINO) Stock

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 objective increased by Raymond James Financial from $57.00 to $60.00 in a report issued on Tuesday, Marketbeat.com reports. They currently have a strong-buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Mizuho upped their target price on HF Sinclair from $50.00 to $52.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Wells Fargo & Company upped their target price on HF Sinclair from $34.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 11th. Piper Sandler cut HF Sinclair from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $53.00 to $51.00 in a research report on Tuesday, July 22nd. Barclays upped their target price on HF Sinclair from $32.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen raised HF Sinclair from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $51.82.

HF Sinclair Stock Down 0.3%

Shares of NYSE DINO traded down $0.14 during trading hours on Tuesday, hitting $51.59. The stock had a trading volume of 132,074 shares, compared to its average volume of 2,862,706. The company has a market capitalization of $9.65 billion, a P/E ratio of -112.13 and a beta of 1.07. The firm's 50-day moving average price is $46.29 and its two-hundred day moving average price is $38.38. HF Sinclair has a 52 week low of $24.66 and a 52 week high of $53.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.82.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.09 by $0.61. The business had revenue of $6.78 billion during the quarter, compared to analysts' expectations of $6.93 billion. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%.The firm's quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. Analysts anticipate that HF Sinclair will post 2.39 EPS for the current fiscal year.

HF Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.9%. The ex-dividend date was Thursday, August 21st. HF Sinclair's dividend payout ratio is currently -434.78%.

Insider Transactions at HF Sinclair

In other HF Sinclair news, EVP Valerie Pompa sold 11,000 shares of the 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 completion of the transaction, the executive vice president directly owned 39,591 shares in the company, valued at $1,683,805.23. This represents a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of HF Sinclair

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kiker Wealth Management LLC acquired a new stake in shares of HF Sinclair in the second quarter valued at $32,000. Johnson Financial Group Inc. bought a new position in HF Sinclair in the second quarter valued at about $33,000. Byrne Asset Management LLC bought a new position in HF Sinclair in the first quarter valued at about $35,000. West Oak Capital LLC bought a new position in HF Sinclair in the second quarter valued at about $38,000. Finally, Allworth Financial LP boosted its holdings in HF Sinclair by 553.9% in the first quarter. Allworth Financial LP now owns 1,334 shares of the company's stock valued at $41,000 after acquiring an additional 1,130 shares during the last quarter. 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.