Equities
UBS Adjusts Price Target on HF Sinclair to $80 From $65, Maintains Buy Rating
HF Sinclair (DINO) has an average rating of overweight and mean price target of $72.69, according to analysts polled by FactSet.
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46 stories mentioning DINOUpdated 5d ago
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Research
Research Alert: Dino: Q1 Refining Margin Strength
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:DINO delivered exceptional Q1 results with adjusted EPS of $0.69 vs. a consensus loss of $0.27, beating by $0.74, while adjusted EBITDA more than doubled to $426M from $201M. The refining segment led the recovery with $514M operating income vs. a$30M loss in the prior year, though regional performance diverged with West margins expanding to $14.61/barrel while Mid-Continent compressed to $3.58/barrel. We believe the strong performance reflects improving refining fundamentals and regulatory tailwinds in renewables. The renewables segment returned to profitability with $182M operating income, benefiting from higher volumes, improved margins, and $49M in prior-year Producer Tax Credit benefits. Cash generation remained robust at $457M from operations, more than covering $167M in shareholder returns, while the balance sheet strengthened with cash rising to $1.15B. We expect continued benefit from favorable renewable diesel demand dynamics and small refinery RINs waivers.
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Research
Research Alert: Dino: Q1 Refining Margin Strength
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:DINO delivered exceptional Q1 results with adjusted EPS of $0.69 vs. a consensus loss of $0.27, beating by $0.74, while adjusted EBITDA more than doubled to $426M from $201M. The refining segment led the recovery with $514M operating income vs. a$30M loss in the prior year, though regional performance diverged with West margins expanding to $14.61/barrel while Mid-Continent compressed to $3.58/barrel. We believe the strong performance reflects improving refining fundamentals and regulatory tailwinds in renewables. The renewables segment returned to profitability with $182M operating income, benefiting from higher volumes, improved margins, and $49M in prior-year Producer Tax Credit benefits. Cash generation remained robust at $457M from operations, more than covering $167M in shareholder returns, while the balance sheet strengthened with cash rising to $1.15B. We expect continued benefit from favorable renewable diesel demand dynamics and small refinery RINs waivers.
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Equities
HF Sinclair Swings to Q1 Adjusted Earnings, Revenue Rises
HF Sinclair (DINO) reported Q1 adjusted earnings Friday of $0.69 per diluted share, swinging from a loss of $0.27 a year earlier.Analysts surveyed by FactSet expected a loss of $0.06.Sales and other revenue for the quarter ended March 31 was $7.12 billion, up from $6.37 billion a year earlier.Analysts polled by FactSet expected $6.83 billion.
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Wire
Refining Margins Unlikely to Return to Pre-Conflict Levels Anytime Soon, Morgan Stanley Says
Refining margins are unlikely to return to pre-conflict levels anytime soon, even if the Strait of Hormuz reopens, due to refinery damage, the time required to normalize trade flows, and the need to rebuild inventories, Morgan Stanley analysts said in a Friday note to clients.Analysts said first-quarter financial results for refining companies will be pressured by lower capture rates amid still-tight crude differentials, planned and unplanned maintenance, and derivative headwinds, partially offset by stronger secondary products.Morgan Stanley said near-term U.S. refining margins have roughly doubled since the start of the Iran conflict and now sit near levels last reached in 2022 and 2023.On Phillips 66 (PSX), analysts upgraded the stock to overweight from equal-weight.They said the chemicals business is a key factor that sets the company apart from the rest of the sector, with earnings from the segment expected to rise to about $1.1 billion from $352 million. They also raised the price target to $174 from $147.Morgan Stanley retained an overweight rating on Marathon Petroleum (MPC) and raised its price target to $233 from $200. It also maintained an overweight rating on HF Sinclair (DINO) and increased its price target to $66 from $57.On Valero Energy (VLO), Morgan Stanley maintained an equal-weight rating and raised the price target to $222 from $182. It also maintained an equal-weight rating on Delek US Holdings (DK) and raised its price target to $40 from $38.On PBF Energy (PBF), Morgan Stanley maintained an underweight rating and raised the price target to $34 from $27.Price: $224.00, Change: $+2.90, Percent Change: +1.31%
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Equities
Morgan Stanley Raises Price Target on HF Sinclair to $66 From $57, Keeps Outperform Rating
HF Sinclair (DINO) has an average rating of overweight and mean price target of $66.31, according to analysts polled by FactSet.
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