Morgan Stanley Cuts HF Sinclair (NYSE:DINO) Price Target to $50.00

HF Sinclair (NYSE:DINO) had its price objective decreased by Morgan Stanley from $51.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other analysts also recently commented on the company. Barclays reduced their target price on HF Sinclair from $42.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Piper Sandler set a $46.00 price objective on HF Sinclair in a research note on Friday, March 7th. TD Cowen lowered their target price on HF Sinclair from $43.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Mizuho cut their target price on HF Sinclair from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Wells Fargo & Company lowered shares of HF Sinclair from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $53.00 to $45.00 in a research note on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, HF Sinclair currently has an average rating of “Hold” and a consensus target price of $47.10.

HF Sinclair Price Performance

HF Sinclair stock opened at $32.36 on Friday. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 39.47 and a beta of 1.13. HF Sinclair has a 52-week low of $29.85 and a 52-week high of $64.16. 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 stock’s 50 day moving average price is $35.50 and its two-hundred day moving average price is $39.68.

HF Sinclair (NYSE:DINO) last issued its earnings results on Thursday, February 20th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.11). The company had revenue of $6.50 billion for 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%. On average, equities analysts predict that HF Sinclair will post 2.39 earnings per share for the current year.

HF Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a $0.50 dividend. The ex-dividend date is Thursday, March 6th. This represents a $2.00 annualized dividend and a dividend yield of 6.18%. HF Sinclair’s payout ratio is 243.90%.

Insider Activity

In other HF Sinclair news, CFO Atanas H. Atanasov acquired 5,000 shares of HF Sinclair stock in a transaction on Thursday, December 19th. The stock was purchased at an average price of $33.77 per share, for a total transaction of $168,850.00. Following the purchase, the chief financial officer now directly owns 78,927 shares of the company’s stock, valued at $2,665,364.79. This trade represents a 6.76 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders bought a total of 10,635 shares of company stock worth $367,140 over the last quarter. 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 made changes to their positions in the stock. Southeastern Asset Management Inc. TN bought a new stake in HF Sinclair in the fourth quarter worth about $96,344,000. Balyasny Asset Management L.P. raised its holdings in shares of HF Sinclair by 645.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,840,955 shares of the company’s stock worth $64,525,000 after purchasing an additional 1,593,875 shares during the period. Norges Bank bought a new stake in shares of HF Sinclair in the 4th quarter worth approximately $41,317,000. Thompson Siegel & Walmsley LLC lifted its stake in HF Sinclair by 114.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,114,575 shares of the company’s stock valued at $74,116,000 after purchasing an additional 1,126,825 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in HF Sinclair by 53.7% during the fourth quarter. First Trust Advisors LP now owns 3,139,092 shares of the company’s stock valued at $110,025,000 after purchasing an additional 1,096,485 shares during the period. 88.29% of the stock is owned by hedge funds and other institutional investors.

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.