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

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 research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

A number of other analysts have also weighed in on DINO. Wolfe Research lowered shares of HF Sinclair from a "peer perform" rating to an "underperform" rating in a research note on Monday, July 14th. Raymond James Financial raised HF Sinclair from a "market perform" rating to a "strong-buy" rating and set a $54.00 price objective on the stock in a research report on Tuesday, July 15th. Morgan Stanley boosted their price target on HF Sinclair from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Piper Sandler cut HF Sinclair from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $53.00 to $51.00 in a research note on Tuesday, July 22nd. Finally, Mizuho upgraded HF Sinclair from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $40.00 to $47.00 in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $49.45.

HF Sinclair Trading Down 0.6%

DINO traded down $0.25 during trading on Friday, hitting $43.53. 767,424 shares of the stock traded hands, compared to its average volume of 2,965,678. The firm has a market capitalization of $8.14 billion, a P/E ratio of -94.41 and a beta of 0.97. 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 has a 50-day moving average of $41.50 and a 200 day moving average of $36.25. HF Sinclair has a 12-month low of $24.66 and a 12-month high of $49.92.

HF Sinclair (NYSE:DINO - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $6.93 billion. HF Sinclair had a negative net margin of 0.32% and a positive return on equity of 1.89%. HF Sinclair's quarterly revenue was down 13.5% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. Equities research analysts anticipate that HF Sinclair will post 2.39 EPS for the current year.

Insider Activity

In related news, EVP Valerie Pompa sold 11,000 shares of the firm'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 value of $467,830.00. Following the transaction, the executive vice president owned 39,591 shares of the company's stock, valued at approximately $1,683,805.23. This trade represents a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.28% of the company's stock.

Hedge Funds Weigh In On HF Sinclair

Institutional investors and hedge funds have recently made changes to their positions in the business. Kiker Wealth Management LLC bought a new stake in shares of HF Sinclair during the second quarter valued at approximately $32,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of HF Sinclair during the fourth quarter valued at approximately $31,000. West Oak Capital LLC bought a new stake in shares of HF Sinclair during the second quarter valued at approximately $38,000. Byrne Asset Management LLC bought a new stake in shares of HF Sinclair during the first quarter valued at approximately $35,000. Finally, Hilltop National Bank bought a new stake in shares of HF Sinclair during the second quarter valued at approximately $46,000. Hedge funds and other institutional investors 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.