Wells Fargo & Company Initiates Coverage on HF Sinclair (NYSE:DINO)

Key Points

• Wells Fargo & Company initiated coverage on HF Sinclair, assigning an "equal weight" rating with a price target of $58.00, indicating a potential upside of 14.67% from its previous close.
• Other analysts also provided favorable ratings, with Morgan Stanley raising their target to $60.00 and UBS Group to $63.00, suggesting a strong overall interest in HF Sinclair amongst investment firms.
• HF Sinclair reported earnings of $1.70 per share for the last quarter, beating estimates significantly, although revenue decreased by 13.5% year-over-year, finishing at $6.78 billion.

Investment analysts at Wells Fargo & Company began coverage on shares of HF Sinclair (NYSE:DINO - Get Free Report) in a research note issued on Friday,Benzinga reports. The brokerage set an "equal weight" rating and a $58.00 price target on the stock. Wells Fargo & Company's price objective points to a potential upside of 14.67% from the company's previous close.

A number of other equities analysts have also commented on the stock. Morgan Stanley lifted their price target on shares of HF Sinclair from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of HF Sinclair in a research report on Wednesday, October 8th. UBS Group boosted their price objective on HF Sinclair from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Barclays lifted their target price on HF Sinclair from $45.00 to $54.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 1st. Finally, TD Cowen lifted their price objective on shares of HF Sinclair from $45.00 to $46.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.91.

HF Sinclair Stock Down 2.8%

NYSE DINO opened at $50.58 on Friday. The company has a market cap of $9.46 billion, a price-to-earnings ratio of -109.96 and a beta of 1.00. HF Sinclair has a 1-year low of $24.66 and a 1-year high of $54.73. The company has a current ratio of 1.82, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $50.33 and a 200-day moving average of $41.70.

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 analysts' consensus estimates of $1.09 by $0.61. HF Sinclair had a positive return on equity of 1.89% and a negative net margin of 0.32%.The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the business posted $0.78 EPS. The company's revenue was down 13.5% compared to the same quarter last year. On average, equities research analysts expect that HF Sinclair will post 2.39 earnings per share for the current fiscal year.

Insider Transactions at HF Sinclair

In related news, EVP Valerie Pompa sold 11,000 shares of the firm's stock in a transaction dated 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 owned 39,591 shares in the company, 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 is accessible through this link. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On HF Sinclair

Several institutional investors have recently made changes to their positions in DINO. CWA Asset Management Group LLC bought a new stake in HF Sinclair during the first quarter valued at $421,000. Pacific Heights Asset Management LLC grew its position in HF Sinclair by 9.1% during the first quarter. Pacific Heights Asset Management LLC now owns 240,000 shares of the company's stock valued at $7,891,000 after acquiring an additional 20,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in HF Sinclair by 72.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 51,230 shares of the company's stock worth $1,684,000 after purchasing an additional 21,597 shares during the period. Principal Financial Group Inc. increased its stake in HF Sinclair by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,289,510 shares of the company's stock worth $42,399,000 after purchasing an additional 27,764 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in HF Sinclair by 7.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 131,700 shares of the company's stock valued at $4,354,000 after buying an additional 9,070 shares during the period. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.