Wells Fargo & Company Has Lowered Expectations for Delek US (NYSE:DK) Stock Price

Delek US (NYSE:DK) had its price objective dropped by stock analysts at Wells Fargo & Company from $18.00 to $16.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 12.76% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Bank of America initiated coverage on Delek US in a research note on Thursday, October 17th. They issued an “underperform” rating and a $15.00 price objective for the company. StockNews.com cut Delek US from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Scotiabank decreased their price objective on shares of Delek US from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of Delek US from $26.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Piper Sandler cut their target price on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Six analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.10.

Delek US Stock Up 0.1 %

Shares of Delek US stock opened at $18.34 on Monday. Delek US has a one year low of $15.36 and a one year high of $33.60. The company has a market cap of $1.16 billion, a P/E ratio of -3.78 and a beta of 1.22. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.67 and a current ratio of 1.04. The firm has a fifty day moving average of $18.15 and a two-hundred day moving average of $20.81.

Delek US (NYSE:DK) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) EPS for the quarter, beating the consensus estimate of ($1.71) by $0.26. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period last year, the firm earned $2.02 EPS. The company’s quarterly revenue was down 34.3% compared to the same quarter last year. On average, analysts forecast that Delek US will post -4.4 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Delek US during the second quarter valued at approximately $43,000. Farther Finance Advisors LLC increased its stake in Delek US by 24.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,733 shares of the oil and gas company’s stock worth $145,000 after buying an additional 1,508 shares during the period. Capstone Investment Advisors LLC acquired a new position in Delek US in the 3rd quarter worth $193,000. Bailard Inc. acquired a new position in Delek US in the 2nd quarter worth $201,000. Finally, MQS Management LLC purchased a new position in Delek US in the 3rd quarter valued at about $201,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Delek US Company Profile

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.