HF Sinclair (NYSE:DINO) Raised to Buy at Wall Street Zen

Key Points

• HF Sinclair has been upgraded by Wall Street Zen from a "hold" to a "buy" rating, indicating increased confidence among analysts.
• Analysts' target prices for HF Sinclair have generally increased, with Scotiabank raising its target from $49.00 to $61.00 and Mizuho increasing theirs from $40.00 to $47.00.
• Despite a 3.6% decline in shares on Friday, HF Sinclair reported strong earnings with $1.70 EPS, surpassing consensus estimates of $1.09.

HF Sinclair (NYSE:DINO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other analysts have also issued reports on the stock. Scotiabank raised their target price on shares of HF Sinclair from $49.00 to $61.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Mizuho upgraded HF Sinclair from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $40.00 to $47.00 in a report on Tuesday, May 13th. Barclays upped their target price on HF Sinclair from $32.00 to $43.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Wolfe Research lowered HF Sinclair from a "peer perform" rating to an "underperform" rating in a research note on Monday, July 14th. Finally, Morgan Stanley upped their price objective on shares of HF Sinclair from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, HF Sinclair has a consensus rating of "Moderate Buy" and an average target price of $49.82.

HF Sinclair Stock Down 3.6%

DINO opened at $42.34 on Friday. The firm has a market cap of $7.98 billion, a P/E ratio of -92.04 and a beta of 0.97. The business's fifty day simple moving average is $41.33 and its 200 day simple moving average is $36.21. HF Sinclair has a 52 week low of $24.66 and a 52 week high of $49.92. The company has a quick ratio of 0.76, a current ratio of 1.87 and a debt-to-equity ratio of 0.29.

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, topping the consensus estimate of $1.09 by $0.61. The company had revenue of $6.78 billion for the quarter, compared to analysts' expectations of $6.93 billion. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.88%. The firm's revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. As a group, equities research analysts anticipate that HF Sinclair will post 2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On HF Sinclair

Large investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its holdings in HF Sinclair by 21.4% in the 2nd quarter. IFP Advisors Inc now owns 1,694 shares of the company's stock worth $71,000 after acquiring an additional 299 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of HF Sinclair by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 45,100 shares of the company's stock worth $1,853,000 after purchasing an additional 300 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of HF Sinclair by 15.0% in the first quarter. Harbour Investments Inc. now owns 2,380 shares of the company's stock valued at $78,000 after purchasing an additional 310 shares during the period. Mader & Shannon Wealth Management Inc. boosted its stake in shares of HF Sinclair by 0.5% in the second quarter. Mader & Shannon Wealth Management Inc. now owns 67,557 shares of the company's stock valued at $2,775,000 after purchasing an additional 311 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in HF Sinclair by 1.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 20,023 shares of the company's stock valued at $685,000 after purchasing an additional 379 shares in the last quarter. Institutional investors and hedge funds 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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