Delek US (NYSE:DK) Given New $11.00 Price Target at Wells Fargo & Company

Delek US (NYSE:DK) had its price target cut by Wells Fargo & Company from $16.00 to $11.00 in a research report report published on Wednesday,Benzinga reports. They currently have an underweight rating on the oil and gas company’s stock.

DK has been the topic of a number of other reports. UBS Group dropped their target price on Delek US from $21.00 to $13.25 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Wolfe Research upgraded Delek US from an “underperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Raymond James decreased their target price on Delek US from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Piper Sandler reduced their price objective on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Morgan Stanley cut their target price on shares of 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, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Delek US currently has a consensus rating of “Hold” and a consensus target price of $17.48.

Delek US Stock Performance

Shares of DK stock opened at $12.11 on Wednesday. Delek US has a 52-week low of $11.03 and a 52-week high of $30.84. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18. The stock has a market cap of $757.03 million, a PE ratio of -2.49 and a beta of 1.04. The business has a 50-day simple moving average of $15.32 and a 200-day simple moving average of $17.20.

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

Delek US Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 8.42%. The ex-dividend date was Monday, March 3rd. Delek US’s dividend payout ratio is currently -11.54%.

Insider Activity

In other news, CFO Mark Wayne Hobbs purchased 2,800 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $13.70 per share, with a total value of $38,360.00. Following the transaction, the chief financial officer now owns 49,138 shares in the company, valued at $673,190.60. The trade was a 6.04 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 5,055 shares of company stock worth $70,787 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of institutional investors have recently bought and sold shares of DK. Sterling Capital Management LLC grew its stake in shares of Delek US by 728.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 1,311 shares during the period. GAMMA Investing LLC grew its position in Delek US by 907.0% in the first quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 3,746 shares during the period. KBC Group NV grew its position in Delek US by 66.3% in the fourth quarter. KBC Group NV now owns 3,859 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 1,538 shares during the period. Farther Finance Advisors LLC increased its stake in Delek US by 77.4% during the first quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Net Worth Advisory Group purchased a new stake in Delek US in the first quarter valued at $159,000. 97.01% of the stock is owned by hedge funds and other 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.