Scotiabank Cuts HF Sinclair (NYSE:DINO) Price Target to $49.00

HF Sinclair (NYSE:DINO - Free Report) had its price target lowered by Scotiabank from $51.00 to $49.00 in a research note issued to investors on Friday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other brokerages also recently commented on DINO. Wells Fargo & Company upped their price objective on HF Sinclair from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Mizuho lowered their price target on shares of HF Sinclair from $45.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Barclays dropped their price objective on shares of HF Sinclair from $37.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. Morgan Stanley lowered their price target on HF Sinclair from $51.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. Finally, TD Cowen cut their price objective on shares of HF Sinclair from $43.00 to $35.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, HF Sinclair currently has a consensus rating of "Hold" and an average target price of $45.70.

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HF Sinclair Stock Performance

DINO stock traded down $0.46 during trading on Friday, hitting $27.40. 2,342,368 shares of the company's stock traded hands, compared to its average volume of 2,373,947. The stock has a fifty day moving average price of $33.06 and a two-hundred day moving average price of $37.26. 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 $24.66 and a 52 week high of $58.87. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 33.42 and a beta of 1.00.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.11). The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.56 billion. HF Sinclair had a return on equity of 1.98% and a net margin of 0.62%. As a group, equities analysts anticipate that HF Sinclair will post 2.39 EPS for the current fiscal year.

HF Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.50 dividend. The ex-dividend date was Thursday, March 6th. This represents a $2.00 annualized dividend and a dividend yield of 7.30%. HF Sinclair's dividend payout ratio is currently 243.90%.

Insider Buying and Selling

In related news, Director Franklin Myers bought 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average cost of $35.66 per share, for a total transaction of $178,300.00. Following the acquisition, the director now directly owns 154,065 shares of the company's stock, valued at $5,493,957.90. The trade was a 3.35 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 modified their holdings of DINO. JPMorgan Chase & Co. boosted its holdings in shares of HF Sinclair by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 849,117 shares of the company's stock worth $37,845,000 after buying an additional 33,373 shares during the period. Amundi boosted its stake in HF Sinclair by 132.3% in the 4th quarter. Amundi now owns 1,748,994 shares of the company's stock worth $61,025,000 after purchasing an additional 996,155 shares during the period. Aigen Investment Management LP grew its position in HF Sinclair by 124.9% during the 4th quarter. Aigen Investment Management LP now owns 63,231 shares of the company's stock worth $2,216,000 after purchasing an additional 35,121 shares in the last quarter. Norges Bank purchased a new position in HF Sinclair during the 4th quarter worth approximately $41,317,000. Finally, Merit Financial Group LLC purchased a new stake in shares of HF Sinclair in the fourth quarter valued at $263,000. Institutional investors and hedge funds own 88.29% of the company's stock.

HF Sinclair Company Profile

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.