Delek US (NYSE:DK) Price Target Cut to $19.00

Delek US (NYSE:DK) had its price objective lowered by Piper Sandler from $25.00 to $19.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s price target would indicate a potential downside of 3.55% from the stock’s current price.

A number of other research analysts have also weighed in on DK. Mizuho raised shares of Delek US from an “underperform” rating to a “neutral” rating and cut their price target for the company from $28.00 to $26.00 in a research note on Monday, September 16th. Wolfe Research began coverage on shares of Delek US in a research report on Thursday, July 18th. They issued an “underperform” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. upgraded Delek US from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $23.00 to $26.00 in a report on Tuesday, September 10th. Scotiabank reduced their price objective on Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Company increased their price objective on Delek US from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $24.73.

Delek US Price Performance

DK opened at $19.70 on Friday. The stock has a market cap of $1.26 billion, a P/E ratio of -15.89 and a beta of 1.14. Delek US has a 12 month low of $18.35 and a 12 month high of $33.60. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50. The company has a fifty day simple moving average of $20.98 and a 200 day simple moving average of $25.16.

Delek US (NYSE:DK) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.50. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, research analysts expect that Delek US will post -2.87 EPS for the current year.

Insider Buying and Selling

In other news, CEO Avigal Soreq acquired 5,651 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $20.42 per share, with a total value of $115,393.42. Following the transaction, the chief executive officer now directly owns 188,881 shares in the company, valued at approximately $3,856,950.02. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Delek US

A number of hedge funds have recently made changes to their positions in DK. Grizzlyrock Capital LLC bought a new stake in Delek US during the 4th quarter worth $2,405,000. Heartland Advisors Inc. purchased a new stake in shares of Delek US in the first quarter worth about $1,537,000. Rafferty Asset Management LLC boosted its holdings in Delek US by 35.2% in the 4th quarter. Rafferty Asset Management LLC now owns 185,458 shares of the oil and gas company’s stock valued at $4,785,000 after purchasing an additional 48,254 shares during the period. Sei Investments Co. grew its position in Delek US by 44.1% during the first quarter. Sei Investments Co. now owns 176,442 shares of the oil and gas company’s stock worth $5,424,000 after buying an additional 53,957 shares in the last quarter. Finally, Easterly Investment Partners LLC grew its holdings in shares of Delek US by 26.7% during the second quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock worth $11,329,000 after purchasing an additional 96,531 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

About Delek US

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.