Delek US (NYSE:DK) Price Target Lowered to $23.00 at Raymond James

Delek US (NYSE:DK) had its price target reduced by equities researchers at Raymond James from $24.00 to $23.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Raymond James’ price objective suggests a potential upside of 104.70% from the company’s previous close.

Other analysts have also issued research reports about the stock. Mizuho lowered their price target on shares of Delek US from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday. Piper Sandler lowered their target price on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company raised their price target on Delek US from $15.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, March 21st. JPMorgan Chase & Co. boosted their price objective on Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley cut their target price on Delek US from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.20.

Delek US Stock Performance

NYSE:DK traded down $0.31 during trading hours on Wednesday, reaching $11.24. The stock had a trading volume of 194,724 shares, compared to its average volume of 1,193,386. The stock has a market cap of $702.40 million, a P/E ratio of -2.32 and a beta of 1.04. The stock has a 50 day simple moving average of $16.18 and a 200 day simple moving average of $17.50. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.67 and a current ratio of 1.04. Delek US has a 12-month low of $11.03 and a 12-month high of $32.69.

Delek US (NYSE:DK) last announced its quarterly earnings data 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 return on equity of 28.21% and a negative net margin of 2.27%. The company’s revenue was down 39.8% compared to the same quarter last year. During the same period last year, the business posted ($1.46) EPS. On average, research analysts forecast that Delek US will post -5.5 EPS for the current fiscal year.

Insider Buying and Selling at Delek US

In other news, CFO Mark Wayne Hobbs purchased 2,800 shares of the stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $13.70 per share, for a total transaction of $38,360.00. Following the completion of the transaction, the chief financial officer now directly owns 49,138 shares of the company’s stock, valued at approximately $673,190.60. This trade represents a 6.04 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders purchased a total of 5,055 shares of company stock worth $70,787 over the last three months. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Delek US

Institutional investors have recently modified their holdings of the company. State Street Corp grew its position in Delek US by 8.0% during 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 acquiring an additional 223,110 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Delek US in the 3rd quarter valued at $238,000. Orion Portfolio Solutions LLC grew its holdings in shares of Delek US by 7.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 18,254 shares of the oil and gas company’s stock valued at $342,000 after purchasing an additional 1,292 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in Delek US by 123.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,125 shares of the oil and gas company’s stock worth $790,000 after purchasing an additional 23,298 shares during the period. Finally, Barclays PLC lifted its stake in Delek US by 51.5% in the third quarter. Barclays PLC now owns 1,496,825 shares of the oil and gas company’s stock worth $28,065,000 after purchasing an additional 508,719 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

About Delek US

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.