Delek US (NYSE:DK) Price Target Raised to $16.00

Delek US (NYSE:DK) had its price target boosted by Wells Fargo & Company from $15.00 to $16.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the oil and gas company’s stock.

Other research analysts also recently issued reports about the stock. Mizuho reduced their price objective on shares of Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler reduced their price objective on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on shares of Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Wolfe Research upgraded shares of Delek US from an “underperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley reduced their price objective on shares of Delek US from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Five investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.40.

Delek US Price Performance

Delek US stock opened at $16.98 on Friday. The firm has a market capitalization of $1.06 billion, a P/E ratio of -3.49 and a beta of 1.14. The firm has a fifty day moving average of $17.43 and a 200-day moving average of $17.96. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18. Delek US has a 52-week low of $13.40 and a 52-week high of $33.60.

Delek US (NYSE:DK) last announced its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share for the quarter, missing the consensus estimate of ($1.53) by ($1.01). The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. Delek US’s revenue for the quarter was down 39.8% compared to the same quarter last year. During the same quarter last year, the company posted ($1.46) earnings per share. As a group, analysts predict that Delek US will post -5.5 EPS for the current year.

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, March 3rd were issued a $0.255 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 6.01%. Delek US’s dividend payout ratio (DPR) is presently -11.54%.

Insider Buying and Selling at Delek US

In other Delek US news, CFO Mark Wayne Hobbs purchased 2,800 shares of Delek US stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $13.70 per share, for a total transaction of $38,360.00. Following the transaction, the chief financial officer now owns 49,138 shares of the company’s stock, valued at $673,190.60. The trade was a 6.04 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought 5,055 shares of company stock valued at $70,787 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DK. Rubric Capital Management LP bought a new position in Delek US during the 3rd quarter valued at $37,500,000. Philosophy Capital Management LLC bought a new position in Delek US during the third quarter valued at about $21,471,000. Millennium Management LLC grew its holdings in Delek US by 1,199.2% during the fourth quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company’s stock worth $16,100,000 after acquiring an additional 803,274 shares during the period. Deprince Race & Zollo Inc. acquired a new position in Delek US during the fourth quarter worth about $13,680,000. Finally, FMR LLC raised its position in Delek US by 47.3% in the third quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company’s stock worth $32,021,000 after acquiring an additional 548,777 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.