Wells Fargo & Company Issues Positive Forecast for HF Sinclair (NYSE:DINO) Stock Price

Key Points

• Wells Fargo raised its price target on HF Sinclair from $58 to $67 while keeping an "equal weight" rating, implying about a 5.8% upside from the prior close.
• Analyst sentiment is mixed with a consensus rating of "Hold" and a $61 consensus target (1 Strong Buy, 6 Buy, 7 Hold, 1 Sell); other recent moves include Mizuho raising its target to $69 (outperform) and Barclays cutting its target to $51.
• HF Sinclair recently beat quarterly estimates with $1.20 EPS vs. $0.83 expected and $6.46B revenue, has a market cap of $11.42B and a P/E of 20.6, and about 88% institutional ownership.

HF Sinclair (NYSE:DINO - Get Free Report) had its target price increased by investment analysts at Wells Fargo & Company from $58.00 to $67.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 5.80% from the company's previous close.

A number of other brokerages also recently commented on DINO. Mizuho boosted their price objective on HF Sinclair from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Barclays lowered their target price on shares of HF Sinclair from $54.00 to $51.00 and set an "equal weight" rating for the company in a report on Tuesday, January 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of HF Sinclair in a research report on Friday. Scotiabank upgraded HF Sinclair to a "hold" rating in a research note on Friday. Finally, BMO Capital Markets lowered their target price on shares of HF Sinclair from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, HF Sinclair currently has a consensus rating of "Hold" and a consensus target price of $61.00.

HF Sinclair Price Performance

DINO opened at $63.33 on Tuesday. The stock's 50-day moving average price is $55.20 and its 200 day moving average price is $52.66. The company has a current ratio of 1.94, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. HF Sinclair has a 12-month low of $24.66 and a 12-month high of $64.70. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 20.62 and a beta of 0.83.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.37. HF Sinclair had a net margin of 2.15% and a return on equity of 10.20%. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the prior year, the firm earned ($1.02) EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts expect that HF Sinclair will post 2.39 earnings per share for the current year.

Institutional Investors Weigh In On HF Sinclair

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in HF Sinclair by 14.6% in the first quarter. Goldman Sachs Group Inc. now owns 939,764 shares of the company's stock valued at $30,899,000 after acquiring an additional 119,832 shares during the period. Focus Partners Wealth increased its stake in shares of HF Sinclair by 71.7% during the first quarter. Focus Partners Wealth now owns 19,400 shares of the company's stock valued at $638,000 after acquiring an additional 8,102 shares during the period. JPMorgan Chase & Co. raised its holdings in HF Sinclair by 9.4% during the second quarter. JPMorgan Chase & Co. now owns 476,988 shares of the company's stock worth $19,595,000 after purchasing an additional 40,848 shares in the last quarter. American Century Companies Inc. increased its position in shares of HF Sinclair by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 77,690 shares of the company's stock valued at $3,192,000 after purchasing an additional 7,773 shares during the period. Finally, Choreo LLC lifted its holdings in shares of HF Sinclair by 4.0% in the second quarter. Choreo LLC now owns 10,759 shares of the company's stock valued at $442,000 after buying an additional 414 shares during the period. 88.29% of the stock is owned by institutional investors and hedge funds.

HF Sinclair Company Profile

HF Sinclair Corporation is a diversified energy manufacturing company engaged in the refining, marketing, and transportation of petroleum products across the United States. The company operates a network of refineries and processing facilities that convert crude oil and other feedstocks into fuels and specialty products. Its integrated model encompasses upstream supply agreements, midstream logistics, and downstream marketing channels, positioning HF Sinclair as a key supplier of refined products to wholesale and retail markets.

The company’s core product slate includes gasoline, diesel, jet fuel, and renewable fuels such as renewable diesel and biodiesel.

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