Delek US (NYSE:DK) Price Target Raised to $54.00

Delek US (NYSE:DK) had its target price upped by equities research analysts at Raymond James Financial from $47.00 to $54.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price objective points to a potential upside of 19.67% from the company’s previous close.

Several other analysts have also recently commented on the stock. TD Cowen raised their target price on shares of Delek US from $28.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, March 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Delek US in a report on Wednesday, January 21st. Piper Sandler reduced their price objective on shares of Delek US from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Wall Street Zen raised Delek US from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Finally, JPMorgan Chase & Co. dropped their target price on Delek US from $42.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.00.

Delek US Stock Performance

DK stock traded down $0.79 during trading on Wednesday, hitting $45.13. The company had a trading volume of 316,331 shares, compared to its average volume of 1,616,189. Delek US has a 1-year low of $11.02 and a 1-year high of $46.90. The firm has a 50-day moving average price of $35.46 and a 200-day moving average price of $34.69. The company has a quick ratio of 0.53, a current ratio of 0.82 and a debt-to-equity ratio of 5.89. The firm has a market cap of $2.70 billion, a PE ratio of -129.17 and a beta of 0.75.

Delek US (NYSE:DK) last released its earnings results on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.63. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the company posted ($2.54) earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts expect that Delek US will post -5.5 earnings per share for the current year.

Insider Transactions at Delek US

In related news, EVP Reuven Spiegel sold 20,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $42.84, for a total value of $856,800.00. Following the sale, the executive vice president directly owned 48,530 shares of the company’s stock, valued at approximately $2,079,025.20. This represents a 29.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Avigal Soreq sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.08, for a total transaction of $2,054,000.00. Following the transaction, the chief executive officer owned 251,678 shares of the company’s stock, valued at $10,338,932.24. This trade represents a 16.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 172,095 shares of company stock worth $7,257,409 over the last ninety days. 3.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Delek US

A number of institutional investors and hedge funds have recently bought and sold shares of DK. Caitong International Asset Management Co. Ltd raised its holdings in shares of Delek US by 95.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 432 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Delek US during the third quarter valued at $27,000. EverSource Wealth Advisors LLC increased its position in Delek US by 173.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 614 shares in the last quarter. Torren Management LLC acquired a new position in Delek US in the 4th quarter valued at about $40,000. Finally, Focus Partners Wealth acquired a new position in Delek US in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

About Delek US

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.