FY2024 EPS Estimates for HF Sinclair Reduced by Scotiabank

HF Sinclair Co. (NYSE:DINO) – Research analysts at Scotiabank reduced their FY2024 earnings estimates for shares of HF Sinclair in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now expects that the company will post earnings per share of $2.40 for the year, down from their prior forecast of $3.10. Scotiabank has a “Sector Outperform” rating and a $57.00 price target on the stock. The consensus estimate for HF Sinclair’s current full-year earnings is $2.27 per share. Scotiabank also issued estimates for HF Sinclair’s FY2025 earnings at $3.75 EPS.

A number of other equities analysts also recently commented on DINO. Wells Fargo & Company downgraded shares of HF Sinclair from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $53.00 to $45.00 in a research note on Monday, December 9th. Barclays cut their target price on HF Sinclair from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Piper Sandler lowered their price target on shares of HF Sinclair from $58.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. BMO Capital Markets reduced their price objective on shares of HF Sinclair from $57.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Morgan Stanley cut their price target on shares of HF Sinclair from $63.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $51.45.

HF Sinclair Trading Up 3.2 %

NYSE:DINO opened at $35.87 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.81. The firm has a 50-day simple moving average of $38.44 and a 200-day simple moving average of $43.91. HF Sinclair has a one year low of $33.47 and a one year high of $64.16. The firm has a market cap of $6.75 billion, a P/E ratio of 22.14 and a beta of 1.22.

HF Sinclair (NYSE:DINO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.19. The company had revenue of $7.21 billion for the quarter, compared to analysts’ expectations of $7.11 billion. HF Sinclair had a return on equity of 5.51% and a net margin of 1.10%. HF Sinclair’s revenue was down 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.06 earnings per share.

HF Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were given a dividend of $0.50 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.00 annualized dividend and a yield of 5.58%. HF Sinclair’s dividend payout ratio is presently 123.46%.

Insider Buying and Selling at HF Sinclair

In related news, CFO Atanas H. Atanasov acquired 7,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $37.96 per share, with a total value of $265,720.00. Following the completion of the acquisition, the chief financial officer now directly owns 71,927 shares in the company, valued at approximately $2,730,348.92. This trade represents a 10.78 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Franklin Myers purchased 5,000 shares of HF Sinclair stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $38.76 per share, with a total value of $193,800.00. Following the transaction, the director now owns 145,293 shares in the company, valued at approximately $5,631,556.68. The trade was a 3.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 17,000 shares of company stock valued at $628,370. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On HF Sinclair

A number of hedge funds have recently made changes to their positions in the company. 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 worth $26,000 after purchasing an additional 317 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of HF Sinclair during the 3rd quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV grew its position in shares of HF Sinclair by 82.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 820 shares of the company’s stock valued at $37,000 after purchasing an additional 370 shares in the last quarter. Millburn Ridgefield Corp acquired a new stake in shares of HF Sinclair in the third quarter valued at approximately $50,000. Finally, Coastline Trust Co purchased a new position in HF Sinclair during the third quarter worth approximately $55,000. 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.