HF Sinclair (NYSE:DINO) Cut to “Hold” at Zacks Investment Research

HF Sinclair (NYSE:DINOGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “HF Sinclair Corporation is an energy company which produces and markets light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. It owns and operates refineries located principally in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah. HF Sinclair Corporation, formerly known as HollyFrontier Corporation, is based in DALLAS. “

A number of other equities analysts also recently commented on the stock. Piper Sandler upped their target price on shares of HF Sinclair from $47.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, May 23rd. The Goldman Sachs Group raised shares of HF Sinclair from a “neutral” rating to a “buy” rating and upped their price target for the stock from $46.00 to $56.00 in a research report on Monday, May 16th. Cowen raised shares of HF Sinclair from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $38.00 to $52.00 in a research report on Wednesday, May 11th. Morgan Stanley upped their price target on shares of HF Sinclair from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, April 18th. Finally, Wells Fargo & Company upped their price target on shares of HF Sinclair from $47.00 to $52.00 in a research report on Tuesday, May 10th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $53.43.

NYSE:DINO traded up $1.03 during mid-day trading on Thursday, hitting $51.51. 2,514,750 shares of the stock traded hands, compared to its average volume of 2,374,009. The stock has a market cap of $11.50 billion, a PE ratio of 15.15 and a beta of 1.55. HF Sinclair has a 52 week low of $27.17 and a 52 week high of $51.75. The stock has a 50 day moving average price of $41.99. The company has a quick ratio of 0.81, a current ratio of 1.73 and a debt-to-equity ratio of 0.38.

HF Sinclair (NYSE:DINOGet Rating) last issued its earnings results on Monday, May 9th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.96. The business had revenue of $7.46 billion for the quarter, compared to the consensus estimate of $4.81 billion. HF Sinclair had a net margin of 2.55% and a return on equity of 7.42%. The company’s revenue for the quarter was up 112.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.53) EPS. Research analysts predict that HF Sinclair will post 7.67 EPS for the current fiscal year.

In other HF Sinclair news, Director Franklin Myers purchased 10,700 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The shares were purchased at an average cost of $46.27 per share, with a total value of $495,089.00. Following the completion of the purchase, the director now owns 94,915 shares in the company, valued at approximately $4,391,717.05. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard Lawrence Voliva III sold 82,966 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $50.25, for a total transaction of $4,169,041.50. Following the sale, the chief financial officer now owns 87,395 shares of the company’s stock, valued at $4,391,598.75. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of DINO. Vanguard Group Inc. acquired a new position in HF Sinclair in the 1st quarter valued at $566,029,000. BlackRock Inc. purchased a new stake in shares of HF Sinclair in the 1st quarter worth about $539,533,000. TCTC Holdings LLC purchased a new stake in shares of HF Sinclair in the 1st quarter worth about $495,719,000. State Street Corp purchased a new stake in shares of HF Sinclair in the 1st quarter worth about $308,240,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of HF Sinclair in the 1st quarter worth about $274,214,000. Institutional investors own 88.24% of the company’s stock.

About HF Sinclair (Get Rating)

HF Sinclair Corporation operates as an independent energy company. It produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, specialty and modified asphalt, and others. The company also 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.

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