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

Delek US (NYSE:DK) had its target price cut by analysts at Wells Fargo & Company from $17.00 to $15.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 5.33% from the company’s current price.

A number of other research firms also recently issued reports on DK. Mizuho reduced their price objective on Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Wolfe Research upgraded shares of Delek US from an “underperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, 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 report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.90.

Delek US Trading Up 4.8 %

Delek US stock opened at $15.84 on Wednesday. Delek US has a 1 year low of $15.02 and a 1 year high of $33.60. The firm’s 50 day moving average price is $18.15 and its 200-day moving average price is $18.57. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67. The stock has a market cap of $1.00 billion, a P/E ratio of -3.26 and a beta of 1.20.

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

Institutional Investors Weigh In On Delek US

A number of institutional investors and hedge funds have recently modified their holdings of DK. River Road Asset Management LLC boosted its stake in shares of Delek US by 1.1% during the third quarter. River Road Asset Management LLC now owns 4,100,268 shares of the oil and gas company’s stock valued at $76,880,000 after purchasing an additional 45,949 shares during the period. Ion Asset Management Ltd. grew its stake in Delek US by 16.5% in the 4th quarter. Ion Asset Management Ltd. now owns 3,455,000 shares of the oil and gas company’s stock worth $63,918,000 after acquiring an additional 488,509 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Delek US by 17.2% during the third quarter. Victory Capital Management Inc. now owns 3,279,590 shares of the oil and gas company’s stock valued at $61,492,000 after acquiring an additional 480,614 shares in the last quarter. State Street Corp boosted its holdings in shares of Delek US by 8.0% in the third quarter. State Street Corp now owns 3,019,307 shares of the oil and gas company’s stock valued at $56,612,000 after purchasing an additional 223,110 shares during the period. Finally, Rubric Capital Management LP purchased a new position in Delek US during the 3rd quarter worth $37,500,000. 97.01% of the stock is owned by 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.