JPMorgan Chase & Co. Lowers HF Sinclair (NYSE:DINO) Price Target to $59.00

HF Sinclair (NYSE:DINO) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $61.00 to $59.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 11.32% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Scotiabank lifted their price target on HF Sinclair from $58.00 to $66.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Barclays cut their price target on HF Sinclair from $60.00 to $56.00 and set an “equal weight” rating on the stock in a report on Monday. Mizuho cut their price target on HF Sinclair from $64.00 to $61.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Piper Sandler cut their price target on HF Sinclair from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Finally, Wells Fargo & Company cut their price target on HF Sinclair from $76.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, HF Sinclair presently has a consensus rating of “Moderate Buy” and an average target price of $64.25.

HF Sinclair Stock Performance

Shares of NYSE DINO opened at $53.00 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 2.17 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $54.71 and its two-hundred day moving average price is $56.48. HF Sinclair has a 52-week low of $43.29 and a 52-week high of $64.16. The stock has a market capitalization of $10.18 billion, a P/E ratio of 6.56 and a beta of 1.20.

HF Sinclair (NYSE:DINO) last issued its earnings results on Wednesday, May 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.16. HF Sinclair had a net margin of 4.94% and a return on equity of 15.10%. The firm had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $7.54 billion. During the same quarter last year, the company posted $2.00 earnings per share. HF Sinclair’s revenue was down 7.1% on a year-over-year basis. As a group, sell-side analysts forecast that HF Sinclair will post 5.64 earnings per share for the current year.

Insider Activity at HF Sinclair

In other HF Sinclair news, Director Franklin Myers purchased 6,500 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were purchased at an average price of $57.37 per share, for a total transaction of $372,905.00. Following the completion of the transaction, the director now owns 138,293 shares in the company, valued at approximately $7,933,869.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On HF Sinclair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DINO. Envestnet Asset Management Inc. boosted its stake in HF Sinclair by 49.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 56,330 shares of the company’s stock worth $3,207,000 after purchasing an additional 18,734 shares during the period. Federated Hermes Inc. boosted its stake in HF Sinclair by 6.8% in the 3rd quarter. Federated Hermes Inc. now owns 18,595 shares of the company’s stock worth $1,059,000 after purchasing an additional 1,182 shares during the period. Natixis Advisors L.P. boosted its stake in HF Sinclair by 4.0% in the 3rd quarter. Natixis Advisors L.P. now owns 31,986 shares of the company’s stock worth $1,821,000 after purchasing an additional 1,238 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in HF Sinclair in the 3rd quarter worth approximately $685,000. Finally, Glenmede Trust Co. NA boosted its stake in HF Sinclair by 215.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 142,891 shares of the company’s stock worth $8,135,000 after purchasing an additional 97,578 shares during the period. Institutional investors and hedge funds 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.