HF Sinclair Corporation · DINO · FY2026 Q1 · Calendar Q2 2026
HF Sinclair: Strong renewables and refining quarter, leadership transition remains
The quarter supports a constructive operating picture, with stronger renewables and refining performance and continued benefits from an integrated value chain. The main counterweights are leadership succession, credit and policy exposure, and volatile crude and feedstock markets.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Management described stronger performance across refining, renewables, marketing, lubricants and midstream, alongside progress on operational flexibility projects. The leadership transition remains unresolved, and management continues to emphasize execution amid commodity and policy volatility.
Guidance delta
Maintained
Key takeaways
- Renewables and improved refinery performance were the principal operating positives in the quarter.
- Management highlighted operational flexibility, branded-site expansion and integrated value-chain benefits.
- Leadership succession, RIN/RVO policy exposure and crude, spread and feedstock volatility remain central watchpoints.
Management priorities
- Advance western-market and refinery flexibility projects.
- Continue Sinclair branded-fuel expansion and pursue lubricants and specialty acquisitions.
- Maintain shareholder returns while executing through the leadership transition.
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Hold | Hold | Maintain | Oct 22, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Oct 14, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Oct 12, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 12, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Oct 9, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Oct 8, 2026 |
| UBS | Buy | Buy | Maintain | Oct 5, 2026 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Sep 14, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Sep 14, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Apr 22, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Feb 23, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Feb 19, 2026 |
| Wolfe Research | Underperform | Peer Perform | Downgrade | Jul 14, 2025 |
| JP Morgan | Neutral | Neutral | Maintain | Dec 10, 2024 |
| B of A Securities | Buy | Neutral | Upgrade | Mar 15, 2024 |
| Cowen & Co. | Outperform | Market Perform | Upgrade | May 11, 2022 |
| Credit Suisse | Outperform | Outperform | Maintain | May 10, 2022 |
Named analyst price targets
Upside is calculated against the persisted current price $115. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Raymond James | Justin Jenkins | $150 | $111.96 | +30.4% | Oct 28, 2026 |
| Raymond James | Justin Jenkins | $160 | $114.21 | +39.1% | Oct 28, 2026 |
| Piper Sandler | Analyst unavailable | $152 | $125.25 | +32.2% | Oct 27, 2026 |
| Wells Fargo | Analyst unavailable | $135 | $128.23 | +17.4% | Oct 14, 2026 |
| Goldman Sachs | Analyst unavailable | $142 | $120.72 | +23.5% | Oct 9, 2026 |
| Mizuho Securities | Analyst unavailable | $119 | $115.63 | +3.5% | Oct 8, 2026 |
| UBS | Analyst unavailable | $133 | $113.36 | +15.7% | Oct 3, 2026 |
| Raymond James | Analyst unavailable | $140 | $105.85 | +21.7% | Sep 14, 2026 |
| Morgan Stanley | Analyst unavailable | $127 | $111.17 | +10.4% | Sep 14, 2026 |
| UBS | Manav Gupta | $126 | $105.41 | +9.6% | Sep 8, 2026 |
| Wells Fargo | Analyst unavailable | $93 | $101.61 | -19.1% | Sep 1, 2026 |
| Mizuho Securities | Nitin Kumar | $85 | $87.26 | -26.1% | Aug 4, 2026 |
| Goldman Sachs | Analyst unavailable | $114 | $90 | -0.9% | Jul 29, 2026 |
| Barclays | Theresa Chen | $86 | $89.3 | -25.2% | Jul 29, 2026 |
| Raymond James | Justin Jenkins | $105 | $89.3 | -8.7% | Jul 29, 2026 |
| Raymond James | Analyst unavailable | $95 | $80.97 | -17.4% | Jul 13, 2026 |
| Barclays | Analyst unavailable | $81 | $78.07 | -29.6% | Jul 13, 2026 |
| Morgan Stanley | Analyst unavailable | $78 | $69.9 | -32.2% | Jun 12, 2026 |
| Mizuho Securities | Nitin Kumar | $79 | $68.53 | -31.3% | May 27, 2026 |
| Goldman Sachs | Analyst unavailable | $81 | $74.5 | -29.6% | May 6, 2026 |
| UBS | Analyst unavailable | $80 | $72.65 | -30.4% | May 5, 2026 |
| Cowen & Co. | Analyst unavailable | $80 | $70.16 | -30.4% | May 4, 2026 |
| Morgan Stanley | Analyst unavailable | $69 | $70.13 | -40.0% | May 4, 2026 |
| Barclays | Theresa Chen | $71 | $69.17 | -38.3% | May 4, 2026 |
| Morgan Stanley | Joe Laetsch | $66 | $59.54 | -42.6% | Apr 24, 2026 |
| Barclays | Analyst unavailable | $61 | $58.56 | -47.0% | Apr 14, 2026 |
| BMO Capital | Analyst unavailable | $60 | $50.86 | -47.8% | Feb 23, 2026 |
| Morgan Stanley | Analyst unavailable | $57 | $51.02 | -50.4% | Feb 19, 2026 |
| Piper Sandler | Analyst unavailable | $63 | $51.57 | -45.2% | Feb 19, 2026 |
| Scotiabank | Paul Cheng | $53 | $51.57 | -53.9% | Feb 18, 2026 |
| Morgan Stanley | Joe Laetsch | $61 | $49.35 | -47.0% | Jan 27, 2026 |
| Scotiabank | Paul Cheng | $62 | $48.83 | -46.1% | Jan 16, 2026 |
| Piper Sandler | Analyst unavailable | $67 | $49.82 | -41.7% | Jan 16, 2026 |
| Piper Sandler | Analyst unavailable | $68 | $48.18 | -40.9% | Jan 8, 2026 |
| Mizuho Securities | Nitin Kumar | $63 | $49.36 | -45.2% | Dec 12, 2025 |
| UBS | Manav Gupta | $65 | $53.39 | -43.5% | Nov 4, 2025 |
| Raymond James | Analyst unavailable | $65 | $50.63 | -43.5% | Oct 17, 2025 |
| Scotiabank | Paul Cheng | $66 | $52.44 | -42.6% | Oct 9, 2025 |
| Morgan Stanley | Joe Laetsch | $60 | $51.84 | -47.8% | Oct 3, 2025 |
| UBS | Analyst unavailable | $63 | $51.99 | -45.2% | Oct 2, 2025 |
| UBS | Analyst unavailable | $54 | $52.34 | -53.0% | Oct 1, 2025 |
| Mizuho Securities | Nitin Kumar | $60 | $51.64 | -47.8% | Sep 15, 2025 |
| Raymond James | Analyst unavailable | $60 | $52.43 | -47.8% | Sep 9, 2025 |
| UBS | Manav Gupta | $58 | $49.22 | -49.6% | Aug 26, 2025 |
| Barclays | Theresa Chen | $43 | $44.74 | -62.6% | Jul 9, 2025 |
| Barclays | Analyst unavailable | $35 | $32.36 | -69.6% | Mar 14, 2025 |
| Piper Sandler | Analyst unavailable | $46 | $32.13 | -60.0% | Mar 7, 2025 |
| Wells Fargo | Roger Read | $53 | $44.51 | -53.9% | Oct 8, 2024 |
| Piper Sandler | Ryan Todd | $49 | $47.25 | -57.4% | Sep 20, 2024 |
| Barclays | Theresa Chen | $53 | $46.76 | -53.9% | Aug 5, 2024 |
| Barclays | Theresa Chen | $56 | $53.34 | -51.3% | Jul 1, 2024 |
| Mizuho Securities | Nitin Kumar | $61 | $52.14 | -47.0% | Jun 20, 2024 |
| Piper Sandler | Ryan Todd | $58 | $52.17 | -49.6% | Jun 14, 2024 |
| Piper Sandler | Ryan Todd | $65 | $56.21 | -43.5% | May 14, 2024 |
| Mizuho Securities | Nitin Kumar | $65 | $60 | -43.5% | Apr 15, 2024 |
| Piper Sandler | Ryan Todd | $70 | $62.9 | -39.1% | Apr 5, 2024 |
| UBS | Manav Gupta | $73 | $59.52 | -36.5% | Feb 14, 2024 |
| BMO Capital | Phillip Jungwirth | $65 | $52.49 | -43.5% | Oct 5, 2023 |
| Wells Fargo | Analyst unavailable | $55 | $50.52 | -52.2% | Jan 5, 2023 |
| Piper Sandler | Analyst unavailable | $75 | $50.76 | -34.8% | Dec 19, 2022 |
| Barclays | Analyst unavailable | $56 | $50.75 | -51.3% | Aug 16, 2022 |
| Barclays | Analyst unavailable | $51 | $45.65 | -55.7% | Jul 5, 2022 |
| Goldman Sachs | Neil Mehta | $53 | $45 | -53.9% | Jun 21, 2022 |
| Credit Suisse | Analyst unavailable | $53 | $42.29 | -53.9% | May 10, 2022 |
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Start freeCompany context
Snapshot as of publicationHF Sinclair Corporation operates as a prominent independent energy enterprise, engaged in the production and commercialization of a diverse array of petroleum products. Its offerings include conventional fuels such as gasoline, diesel, and jet fuel, alongside its growing renewable diesel segment. The company also specializes in unique lubricants, chemicals, and various types of asphalt. With a network of refineries strategically located in Kansas, Oklahoma, New Mexico, Utah, Washington, and Wyoming, HF Sinclair primarily distributes its refined output across the Southwestern United States, the Rocky Mountain…
Historical context
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-01T03:40:40.469276+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-01T03:40:40.466543+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-01. For educational purposes only; not investment advice.