HF Sinclair (NYSE:DINO) Given New $66.00 Price Target at Scotiabank

Key Points

• Scotiabank raised its price target for HF Sinclair from $61.00 to $66.00, suggesting a potential upside of 25.81% from the current stock price.
• HF Sinclair's stock is currently rated as a "Moderate Buy" by analysts, with two analysts giving a Strong Buy rating and a total of five rates as Buy.
• The company reported $1.70 earnings per share for the last quarter, outperforming analyst expectations, but showed a 13.5% decline in revenue compared to the previous year.

HF Sinclair (NYSE:DINO - Get Free Report) had its price objective upped by equities research analysts at Scotiabank from $61.00 to $66.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's price target points to a potential upside of 25.81% from the company's current price.

Other equities analysts also recently issued research reports about the company. Morgan Stanley lifted their price target on HF Sinclair from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, October 3rd. Wall Street Zen upgraded HF Sinclair from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a "hold (c-)" rating on shares of HF Sinclair in a research report on Wednesday. Mizuho lifted their target price on shares of HF Sinclair from $52.00 to $60.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. Finally, Wolfe Research cut shares of HF Sinclair from a "peer perform" rating to an "underperform" rating in a research report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, HF Sinclair presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.09.

HF Sinclair Stock Up 0.2%

DINO stock traded up $0.11 during mid-day trading on Thursday, reaching $52.46. 389,125 shares of the company traded hands, compared to its average volume of 2,789,456. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of -113.93 and a beta of 1.00. The company has a quick ratio of 0.83, a current ratio of 1.82 and a debt-to-equity ratio of 0.29. HF Sinclair has a fifty-two week low of $24.66 and a fifty-two week high of $54.73. The firm's 50 day moving average price is $49.34 and its 200 day moving average price is $40.93.

HF Sinclair (NYSE:DINO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.61. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. As a group, equities research analysts predict that HF Sinclair will post 2.39 EPS for the current fiscal year.

Insider Activity at HF Sinclair

In related news, EVP Valerie Pompa sold 11,000 shares of HF Sinclair stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $42.53, for a total value of $467,830.00. Following the sale, the executive vice president owned 39,591 shares of the company's stock, valued at approximately $1,683,805.23. The trade was a 21.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On HF Sinclair

Hedge funds have recently modified their holdings of the stock. Kiker Wealth Management LLC bought a new stake in shares of HF Sinclair in the 2nd quarter worth approximately $32,000. Johnson Financial Group Inc. bought a new stake in shares of HF Sinclair in the 2nd quarter worth approximately $33,000. West Oak Capital LLC bought a new stake in shares of HF Sinclair in the 2nd quarter worth approximately $38,000. State of Wyoming bought a new stake in shares of HF Sinclair in the 2nd quarter worth approximately $41,000. Finally, Byrne Asset Management LLC bought a new stake in shares of HF Sinclair in the 1st quarter worth approximately $35,000. Institutional investors own 88.29% of the company's stock.

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.

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