HF Sinclair (NYSE:DINO) Price Target Raised to $61.00 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group raised its price target for HF Sinclair (NYSE:DINO) from $54.00 to $61.00, indicating a potential upside of 16.06% from the stock's previous close.
• HF Sinclair reported earnings of $1.70 per share, significantly beating analysts' expectations of $1.09, although revenue declined by 13.5% year-over-year.
• Institutional investors hold a significant 88.29% of HF Sinclair's stock, with Dimensional Fund Advisors boosting its holdings by 19.5% in the first quarter.

HF Sinclair (NYSE:DINO - Get Free Report) had its price target raised by equities researchers at The Goldman Sachs Group from $54.00 to $61.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's price target points to a potential upside of 16.06% from the stock's previous close.

Several other brokerages also recently issued reports on DINO. Wells Fargo & Company lifted their price target on shares of HF Sinclair from $34.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday, June 11th. UBS Group lifted their price target on shares of HF Sinclair from $51.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Piper Sandler lifted their price target on shares of HF Sinclair from $51.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, September 11th. Wall Street Zen raised shares of HF Sinclair from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, TD Cowen lifted their price target on shares of HF Sinclair from $45.00 to $46.00 and gave the company a "hold" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, HF Sinclair has an average rating of "Moderate Buy" and an average target price of $53.25.

HF Sinclair Price Performance

Shares of HF Sinclair stock traded down $0.07 during trading on Thursday, hitting $52.56. 658,172 shares of the company's stock traded hands, compared to its average volume of 2,851,077. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.82 and a quick ratio of 0.83. The firm's fifty day moving average price is $46.89 and its 200 day moving average price is $38.84. HF Sinclair has a twelve month low of $24.66 and a twelve month high of $53.33. The company has a market cap of $9.83 billion, a PE ratio of -114.30 and a beta of 1.07.

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

Insider Buying and Selling at HF Sinclair

In related news, EVP Valerie Pompa sold 11,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $42.53, for a total transaction of $467,830.00. Following the completion of the sale, the executive vice president directly owned 39,591 shares of the company's stock, valued at $1,683,805.23. The trade was a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. 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 buying an additional 1,337,093 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in HF Sinclair by 5.0% during the second 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 last quarter. AQR Capital Management LLC boosted its holdings in HF Sinclair by 109.8% during the first quarter. AQR Capital Management LLC now owns 4,986,355 shares of the company's stock worth $163,951,000 after purchasing an additional 2,609,857 shares during the last quarter. Geode Capital Management LLC boosted its holdings in HF Sinclair by 1.0% during the second quarter. Geode Capital Management LLC now owns 2,895,333 shares of the company's stock worth $118,969,000 after purchasing an additional 27,548 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in HF Sinclair by 1.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,543,741 shares of the company's stock worth $83,638,000 after purchasing an additional 36,592 shares during the last quarter. Institutional investors and hedge funds own 88.29% of the company's stock.

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.

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