Raymond James Financial Forecasts Strong Price Appreciation for Delek US (NYSE:DK) Stock

Delek US (NYSE:DK) had its price objective raised by stock analysts at Raymond James Financial from $47.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price target would suggest a potential upside of 16.33% from the company’s current price.

DK has been the subject of several other reports. Morgan Stanley lowered their price objective on Delek US from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 27th. Wall Street Zen raised Delek US from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Scotiabank set a $34.00 target price on Delek US in a report on Friday, January 16th. Citigroup lowered their target price on Delek US from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, January 26th. Finally, JPMorgan Chase & Co. cut their price target on Delek US from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Delek US presently has an average rating of “Hold” and a consensus price target of $41.00.

Delek US Trading Up 4.6%

DK opened at $46.42 on Wednesday. Delek US has a twelve month low of $11.02 and a twelve month high of $46.90. 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 company has a fifty day moving average of $36.09 and a 200-day moving average of $34.84. The stock has a market cap of $2.78 billion, a PE ratio of -132.62, a price-to-earnings-growth ratio of 1.87 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 the consensus estimate of ($0.19) by $0.63. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.55 billion. Delek US had a negative net margin of 0.21% and a negative return on equity of 13.55%. Delek US’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.54) earnings per share. On average, sell-side analysts predict that Delek US will post -5.5 EPS for the current year.

Insider Activity

In other Delek US news, EVP Joseph Israel sold 38,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $40.65, for a total transaction of $1,544,700.00. Following the completion of the sale, the executive vice president owned 55,623 shares in the company, valued at approximately $2,261,074.95. The trade was a 40.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Reuven Spiegel sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $42.84, for a total transaction of $856,800.00. Following the transaction, the executive vice president owned 48,530 shares in the company, valued at approximately $2,079,025.20. The trade was a 29.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 172,095 shares of company stock valued at $7,257,409. Corporate insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Delek US by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after acquiring an additional 38,577 shares in the last quarter. Ion Asset Management Ltd. increased its holdings in Delek US by 1.8% during the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock worth $79,296,000 after purchasing an additional 67,490 shares in the last quarter. State Street Corp increased its holdings in Delek US by 3.4% during the 4th quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock worth $78,286,000 after purchasing an additional 87,846 shares in the last quarter. Morgan Stanley raised its stake in shares of Delek US by 24.7% in the fourth quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company’s stock worth $60,300,000 after purchasing an additional 403,059 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Delek US by 29.4% in the third quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock worth $60,460,000 after purchasing an additional 425,896 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Delek US Company Profile

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.