Piper Sandler Forecasts Strong Price Appreciation for HF Sinclair (NYSE:DINO) Stock

Key Points

• Piper Sandler has raised its price target for HF Sinclair (NYSE:DINO) from $51.00 to $59.00, indicating a potential upside of 15.03% based on the stock's last closing price.
• HF Sinclair reported quarterly earnings of $1.70 per share, exceeding analysts' consensus estimates of $1.09, although revenue fell short of expectations at $6.78 billion.
• Currently, HF Sinclair holds an average rating of "Moderate Buy", with one Strong Buy, five Buy ratings, five Holds, and one Sell rating from analysts.

HF Sinclair (NYSE:DINO - Get Free Report) had its price target raised by equities research analysts at Piper Sandler from $51.00 to $59.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price target points to a potential upside of 15.03% from the company's previous close.

A number of other research firms have also commented on DINO. Barclays lifted their price objective on HF Sinclair from $32.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Mizuho boosted their price target on HF Sinclair from $50.00 to $52.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Wolfe Research lowered HF Sinclair from a "peer perform" rating to an "underperform" rating in a research note on Monday, July 14th. TD Cowen boosted their price target on HF Sinclair from $45.00 to $46.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Finally, Scotiabank boosted their price target on HF Sinclair from $49.00 to $61.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.82.

HF Sinclair Trading Up 0.2%

Shares of NYSE:DINO traded up $0.12 during midday trading on Thursday, hitting $51.29. 199,997 shares of the stock were exchanged, compared to its average volume of 2,860,785. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of -111.64 and a beta of 1.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.82. The business's 50-day moving average price is $46.14 and its 200 day moving average price is $38.28. HF Sinclair has a 12 month low of $24.66 and a 12 month high of $53.14.

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 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 positive return on equity of 1.89% and a negative net margin of 0.32%.The business's quarterly revenue was down 13.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share. Analysts predict that HF Sinclair will post 2.39 earnings per share for the current year.

Insider Transactions at HF Sinclair

In related news, EVP Valerie Pompa sold 11,000 shares of the company's 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 sale, the executive vice president owned 39,591 shares in the company, valued at approximately $1,683,805.23. This represents a 21.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. grew its stake in HF Sinclair by 38.1% in the 2nd quarter. Osaic Holdings Inc. now owns 37,446 shares of the company's stock valued at $1,471,000 after purchasing an additional 10,330 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of HF Sinclair by 87.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 70,892 shares of the company's stock valued at $2,913,000 after buying an additional 33,100 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of HF Sinclair by 2.1% during the 2nd quarter. Advisory Services Network LLC now owns 31,758 shares of the company's stock valued at $1,395,000 after buying an additional 640 shares during the last quarter. State of Wyoming purchased a new position in shares of HF Sinclair during the 2nd quarter valued at $41,000. Finally, Delos Wealth Advisors LLC purchased a new position in shares of HF Sinclair during the 2nd quarter valued at $70,000. 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.

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