HF Sinclair (NYSE:DINO) Downgraded to Equal Weight Rating by Wells Fargo & Company

Wells Fargo & Company lowered shares of HF Sinclair (NYSE:DINO) from an overweight rating to an equal weight rating in a report published on Monday morning, MarketBeat Ratings reports. Wells Fargo & Company currently has $45.00 target price on the stock, down from their previous target price of $53.00.

Other equities research analysts have also issued research reports about the company. Mizuho dropped their price target on HF Sinclair from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets dropped their target price on HF Sinclair from $57.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. UBS Group reduced their price target on shares of HF Sinclair from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Piper Sandler lowered their price objective on shares of HF Sinclair from $58.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of HF Sinclair from $60.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.55.

HF Sinclair Trading Up 1.0 %

Shares of DINO opened at $39.30 on Monday. HF Sinclair has a 1-year low of $38.25 and a 1-year high of $64.16. The company has a market capitalization of $7.39 billion, a P/E ratio of 24.26 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.81 and a quick ratio of 0.90. The firm’s 50 day simple moving average is $42.62 and its 200 day simple moving average is $47.12.

HF Sinclair (NYSE:DINO) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. HF Sinclair had a net margin of 1.10% and a return on equity of 5.51%. The firm had revenue of $7.21 billion for the quarter, compared to analyst estimates of $7.11 billion. During the same quarter in the prior year, the firm earned $4.06 EPS. The business’s revenue for the quarter was down 19.1% compared to the same quarter last year. Sell-side analysts forecast that HF Sinclair will post 2.31 earnings per share for the current fiscal year.

HF Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date was Thursday, November 21st. HF Sinclair’s dividend payout ratio (DPR) is presently 123.46%.

Insider Activity

In other HF Sinclair news, Director Franklin Myers bought 5,000 shares of HF Sinclair stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $38.76 per share, with a total value of $193,800.00. Following the completion of the purchase, the director now owns 145,293 shares of the company’s stock, valued at approximately $5,631,556.68. This represents a 3.56 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.28% of the company’s stock.

Institutional Trading of HF Sinclair

Large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its position in HF Sinclair by 58.3% during the 2nd quarter. Pacer Advisors Inc. now owns 7,784,939 shares of the company’s stock valued at $415,249,000 after acquiring an additional 2,868,273 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of HF Sinclair by 54.9% in the 2nd quarter. AQR Capital Management LLC now owns 2,816,084 shares of the company’s stock worth $147,873,000 after buying an additional 997,629 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of HF Sinclair by 90.2% during the second quarter. Squarepoint Ops LLC now owns 849,553 shares of the company’s stock valued at $45,315,000 after acquiring an additional 402,793 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in HF Sinclair by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,749,406 shares of the company’s stock worth $306,665,000 after buying an additional 399,988 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of HF Sinclair during the second quarter valued at approximately $12,001,000. 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.