The Goldman Sachs Group Issues Positive Forecast for Delek US (NYSE:DK) Stock Price

Delek US (NYSE:DK) had its target price lifted by The Goldman Sachs Group from $58.00 to $73.00 in a research note published on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the oil and gas company’s stock.

Several other research analysts also recently issued reports on DK. Wall Street Zen raised shares of Delek US from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 18th. Morgan Stanley raised their price target on Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, June 12th. Raymond James Financial boosted their price target on Delek US from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday. Scotiabank raised Delek US to a “hold” rating in a research note on Friday, March 27th. Finally, TD Cowen raised Delek US from a “hold” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $58.00 in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.54.

Delek US Stock Up 2.5%

NYSE:DK opened at $63.11 on Friday. The stock has a market capitalization of $3.87 billion, a P/E ratio of -69.35, a P/E/G ratio of 0.33 and a beta of 0.58. Delek US has a fifty-two week low of $19.81 and a fifty-two week high of $64.09. The company has a debt-to-equity ratio of 10.51, a quick ratio of 0.49 and a current ratio of 0.76. The company’s 50-day simple moving average is $48.30 and its 200-day simple moving average is $41.14.

Delek US (NYSE:DK) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($1.42) by $1.50. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.32) EPS. On average, equities analysts anticipate that Delek US will post 6.34 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, May 1st were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, May 1st. Delek US’s payout ratio is presently -112.09%.

Insider Buying and Selling at Delek US

In other Delek US news, Director Laurie Z. Tolson sold 4,921 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $46.30, for a total transaction of $227,842.30. Following the completion of the transaction, the director owned 18,226 shares of the company’s stock, valued at $843,863.80. The trade was a 21.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicky Sutil sold 1,871 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $48.00, for a total transaction of $89,808.00. Following the sale, the director owned 29,368 shares of the company’s stock, valued at $1,409,664. This trade represents a 5.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 39,270 shares of company stock worth $1,828,718. 3.56% of the stock is owned by insiders.

Institutional Trading of Delek US

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its position in shares of Delek US by 95.6% during 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 in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Delek US during the third quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its position in shares of Delek US by 173.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock worth $29,000 after buying an additional 614 shares during the period. Torren Management LLC bought a new position in shares of Delek US during the fourth quarter worth about $40,000. Finally, Focus Partners Wealth acquired a new stake in Delek US in the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds 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.