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

Wells Fargo & Company downgraded shares of HF Sinclair (NYSE:DINO) from an overweight rating to an equal weight rating in a research note issued to investors on Monday, Marketbeat.com reports. Wells Fargo & Company currently has $45.00 price objective on the stock, down from their previous price objective of $53.00.

A number of other analysts have also commented on the company. Piper Sandler decreased their target price on HF Sinclair from $58.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their price objective on HF Sinclair from $60.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Scotiabank lowered their target price on HF Sinclair from $66.00 to $57.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of HF Sinclair from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, BMO Capital Markets cut their target price on HF Sinclair from $57.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $53.55.

HF Sinclair Stock Performance

Shares of DINO stock opened at $39.30 on Monday. The firm has a 50 day moving average of $42.62 and a 200-day moving average of $47.12. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 24.26 and a beta of 1.20. The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 0.24. HF Sinclair has a 52 week low of $38.25 and a 52 week high of $64.16.

HF Sinclair (NYSE:DINO) last posted 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 business had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same period last year, the company posted $4.06 earnings per share. The business’s quarterly revenue was down 19.1% on a year-over-year basis. On average, equities analysts forecast that HF Sinclair will post 2.31 earnings per share for the current year.

HF Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend was Thursday, November 21st. HF Sinclair’s dividend payout ratio is 123.46%.

Insider Activity

In other news, Director Franklin Myers purchased 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $38.76 per share, for a total transaction of $193,800.00. Following the purchase, the director now owns 145,293 shares of the company’s stock, valued at $5,631,556.68. The trade was a 3.56 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On HF Sinclair

Hedge funds and other institutional investors have recently bought and sold shares of the business. Matrix Trust Co increased its position in shares of HF Sinclair by 122.4% during the third quarter. Matrix Trust Co now owns 576 shares of the company’s stock valued at $26,000 after buying an additional 317 shares during the period. Capital Performance Advisors LLP purchased a new position in HF Sinclair during the third quarter valued at approximately $27,000. Innealta Capital LLC bought a new stake in HF Sinclair during the 2nd quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV lifted its stake in HF Sinclair by 82.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 820 shares of the company’s stock worth $37,000 after purchasing an additional 370 shares in the last quarter. Finally, Millburn Ridgefield Corp bought a new position in HF Sinclair in the 3rd quarter valued at $50,000. 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.