Delek US (NYSE:DK) Price Target Raised to $23.00

Delek US (NYSE:DK) had its price objective boosted by Raymond James Financial from $22.00 to $23.00 in a report issued on Monday,Benzinga reports. Raymond James Financial currently has an outperform rating on the oil and gas company’s stock.

A number of other equities research analysts also recently issued reports on DK. Mizuho upgraded shares of Delek US from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $22.00 to $23.00 in a research note on Tuesday, May 13th. Morgan Stanley increased their price objective on shares of Delek US from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Monday, May 19th. UBS Group reduced their price objective on shares of Delek US from $21.00 to $13.25 and set a “neutral” rating on the stock in a research note 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 on the stock in a research note on Friday, March 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Delek US from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.60.

Delek US Price Performance

NYSE:DK opened at $23.15 on Monday. Delek US has a 52 week low of $11.03 and a 52 week high of $24.78. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -2.08 and a beta of 0.98. The firm’s 50-day simple moving average is $18.43 and its 200 day simple moving average is $17.12. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.53 and a current ratio of 0.85.

Delek US (NYSE:DK) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported ($2.32) EPS for the quarter, missing analysts’ consensus estimates of ($2.27) by ($0.05). Delek US had a negative return on equity of 63.88% and a negative net margin of 6.10%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business posted ($0.41) earnings per share. Delek US’s revenue was down 18.1% compared to the same quarter last year. As a group, sell-side analysts predict that Delek US will post -5.5 earnings per share for the current year.

Delek US Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 12th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.41%. Delek US’s payout ratio is currently -9.18%.

Institutional Investors Weigh In On Delek US

Hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted 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 purchasing an additional 1,311 shares in the last quarter. CWM LLC boosted its position in Delek US by 100.9% during the 1st quarter. CWM LLC now owns 2,318 shares of the oil and gas company’s stock worth $35,000 after buying an additional 1,164 shares during the period. Creative Financial Designs Inc. ADV acquired a new stake in Delek US during the 1st quarter worth approximately $47,000. GAMMA Investing LLC boosted its position in Delek US by 907.0% during the 1st quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company’s stock worth $63,000 after buying an additional 3,746 shares during the period. Finally, State of Wyoming acquired a new stake in Delek US during the 1st quarter worth approximately $95,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.