JPMorgan Chase & Co. Cuts HF Sinclair (NYSE:DINO) Price Target to $59.00

HF Sinclair (NYSE:DINO) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $61.00 to $59.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.83% from the company’s previous close.

DINO has been the subject of several other research reports. Argus upgraded HF Sinclair to a “hold” rating in a report on Wednesday, June 26th. Scotiabank upped their price objective on HF Sinclair from $58.00 to $66.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Wells Fargo & Company reduced their price objective on HF Sinclair from $76.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Mizuho reduced their price objective on HF Sinclair from $64.00 to $61.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Finally, Piper Sandler reduced their price objective on HF Sinclair from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.25.

HF Sinclair Trading Up 0.6 %

Shares of NYSE:DINO traded up $0.33 during midday trading on Tuesday, hitting $53.72. 380,996 shares of the stock were exchanged, compared to its average volume of 1,997,350. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of 6.65 and a beta of 1.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.09 and a current ratio of 2.17. The business’s 50-day moving average price is $54.88 and its 200 day moving average price is $56.52. HF Sinclair has a 12 month low of $43.29 and a 12 month high of $64.16.

HF Sinclair (NYSE:DINO) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.16. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $7.54 billion. HF Sinclair had a return on equity of 15.10% and a net margin of 4.94%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 earnings per share. Analysts predict that HF Sinclair will post 5.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Franklin Myers bought 6,500 shares of the company’s stock in a transaction on Monday, May 20th. The shares were acquired at an average cost of $57.37 per share, with a total value of $372,905.00. Following the completion of the acquisition, the director now owns 138,293 shares of the company’s stock, valued at approximately $7,933,869.41. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.28% of the company’s stock.

Institutional Trading of HF Sinclair

A number of hedge funds have recently bought and sold shares of the company. Keynote Financial Services LLC purchased a new stake in HF Sinclair during the first quarter valued at $663,000. DekaBank Deutsche Girozentrale increased its position in HF Sinclair by 10.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 95,407 shares of the company’s stock valued at $5,668,000 after acquiring an additional 9,416 shares during the last quarter. Boston Partners increased its position in HF Sinclair by 28.0% during the first quarter. Boston Partners now owns 191,938 shares of the company’s stock valued at $11,585,000 after acquiring an additional 41,947 shares during the last quarter. Cetera Advisors LLC purchased a new stake in HF Sinclair during the first quarter valued at $1,146,000. Finally, Cetera Investment Advisers increased its position in HF Sinclair by 42.6% during the first quarter. Cetera Investment Advisers now owns 31,049 shares of the company’s stock valued at $1,874,000 after acquiring an additional 9,275 shares during the last quarter. Hedge funds and other institutional investors 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.