Mizuho Issues Positive Forecast for Delek US (NYSE:DK) Stock Price

Delek US (NYSE:DK) had its target price upped by Mizuho from $60.00 to $66.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Mizuho’s price target suggests a potential upside of 8.57% from the company’s previous close.

DK has been the subject of a number of other reports. Raymond James Financial raised their price target on Delek US from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Weiss Ratings raised Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Thursday. The Goldman Sachs Group increased their target price on Delek US from $58.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. lifted their target price on Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Delek US from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.38.

Delek US Stock Performance

Shares of NYSE:DK opened at $60.79 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. Delek US has a 12 month low of $20.06 and a 12 month high of $68.93. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.42 and a beta of 0.57. The firm’s 50-day moving average is $54.54 and its 200 day moving average is $45.11.

Delek US (NYSE:DK) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $2.81. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter last year, the firm earned ($0.56) earnings per share. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. Research analysts predict that Delek US will post 9.03 EPS for the current year.

Insiders Place Their Bets

In related news, Director William J. Finnerty sold 5,000 shares of Delek US stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $51.50, for a total transaction of $257,500.00. Following the transaction, the director directly owned 34,805 shares of the company’s stock, valued at $1,792,457.50. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Reuven Spiegel sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $44.36, for a total transaction of $443,600.00. Following the completion of the transaction, the executive vice president directly owned 48,372 shares of the company’s stock, valued at $2,145,781.92. This trade represents a 17.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 39,270 shares of company stock worth $1,828,718. 3.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Delek US

A number of hedge funds have recently made changes to their positions in DK. BlackRock Inc. purchased a new stake in shares of Delek US during the second quarter valued at about $275,233,000. Deutsche Bank AG purchased a new position in shares of Delek US in the 2nd quarter worth approximately $11,447,000. Alberta Investment Management Corp bought a new position in shares of Delek US during the 2nd quarter worth approximately $4,624,000. Bank of New York Mellon Corp purchased a new stake in Delek US during the second quarter valued at approximately $19,760,000. Finally, State of Wyoming purchased a new stake in Delek US during the second quarter valued at approximately $501,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.