Providing effective feedback is important for student learning in programming problem-solving. In this sense, Large Language Models (LLMs) have emerged as potential tools to automate feedback generation. However, their reliability and ability to identify reasoning errors in student code remain not well understood. This study evaluates the performance of four LLMs (GPT-4o, GPT-4o mini, GPT-4-Turbo, and Gemini-1.5-pro) on a benchmark dataset of 45 student solutions. We assessed the models' capacity to provide accurate and insightful feedback, particularly in identifying reasoning mistakes. Our analysis reveals that 63\% of feedback hints were accurate and complete, while 37\% contained mistakes, including incorrect line identification, flawed explanations, or hallucinated issues. These findings highlight the potential and limitations of LLMs in programming education and underscore the need for improvements to enhance reliability and minimize risks in educational applications.