Wells Fargo & Company Increases Delek US (NYSE:DK) Price Target to $59.00

Delek US (NYSE:DK) had its price objective upped by analysts at Wells Fargo & Company from $54.00 to $59.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 32.77% from the stock’s previous close.

Several other research analysts also recently issued reports on DK. Morgan Stanley cut their price target on Delek US from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 27th. Mizuho raised their target price on shares of Delek US from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Piper Sandler cut their target price 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. TD Cowen upped their price target on shares of Delek US from $28.00 to $44.00 and gave the company a “hold” rating in a report on Thursday, March 5th. Finally, Citigroup lowered their price target on shares of Delek US from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, January 26th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $41.46.

Delek US Stock Performance

NYSE DK opened at $44.44 on Tuesday. Delek US has a 1-year low of $11.02 and a 1-year high of $48.32. The company has a market capitalization of $2.66 billion, a P/E ratio of -126.97, a PEG ratio of 1.39 and a beta of 0.68. The business has a 50 day moving average price of $37.54 and a 200 day moving average price of $35.33. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.82 and a quick ratio of 0.53.

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

Insider Transactions at Delek US

In other news, CEO Avigal Soreq sold 50,000 shares of Delek US 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 completion of the sale, the chief executive officer directly owned 251,678 shares in the company, valued at $10,338,932.24. The trade was a 16.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shlomo Zohar sold 22,029 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $44.83, for a total transaction of $987,560.07. Following the completion of the transaction, the director directly owned 18,989 shares of the company’s stock, valued at approximately $851,276.87. This represents a 53.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 172,095 shares of company stock worth $7,257,409 in the last ninety days. Company insiders own 3.56% of the company’s stock.

Institutional Trading of Delek US

A number of hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH grew its position in shares of Delek US by 40.2% in the third quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company’s stock valued at $47,569,000 after purchasing an additional 423,017 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Delek US during the third quarter worth about $1,338,000. Federated Hermes Inc. purchased a new position in Delek US during the third quarter worth about $5,416,000. Quantbot Technologies LP acquired a new stake in Delek US in the 2nd quarter worth about $1,089,000. Finally, Mercuria Capital Strategies LLC acquired a new stake in Delek US in the 3rd quarter worth about $8,755,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.