Delek US (NYSE:DK) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Delek US (NYSE:DK) had its price target boosted by analysts at Morgan Stanley from $38.00 to $40.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price target suggests a potential downside of 0.64% from the stock’s previous close.

DK has been the subject of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Delek US in a research note on Wednesday, January 21st. Citigroup raised their target price on shares of Delek US from $33.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. TD Cowen raised their target price on shares of Delek US from $28.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, March 5th. The Goldman Sachs Group upgraded shares of Delek US from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $55.00 in a research note on Friday, April 10th. Finally, Wells Fargo & Company raised their target price on shares of Delek US from $54.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Delek US currently has an average rating of “Hold” and an average target price of $44.15.

Delek US Stock Up 1.1%

Shares of Delek US stock traded up $0.44 during trading hours on Friday, reaching $40.26. 205,414 shares of the company’s stock were exchanged, compared to its average volume of 1,511,007. The company has a 50 day moving average of $40.86 and a two-hundred day moving average of $36.35. Delek US has a fifty-two week low of $12.66 and a fifty-two week high of $48.32. The company has a current ratio of 0.82, a quick ratio of 0.53 and a debt-to-equity ratio of 5.89. The stock has a market cap of $2.41 billion, a P/E ratio of -115.20, a P/E/G ratio of 0.97 and a beta of 0.68.

Delek US (NYSE:DK) last posted its quarterly earnings data on Friday, February 27th. The oil and gas company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.63. Delek US had a negative net margin of 0.21% and a negative return on equity of 13.55%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the business posted ($2.54) EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Delek US will post 1.38 EPS for the current fiscal year.

Insider Transactions at Delek US

In other Delek US news, EVP Denise Clark Mcwatters sold 11,988 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $41.33, for a total value of $495,464.04. Following the transaction, the executive vice president directly owned 74,196 shares of the company’s stock, valued at $3,066,520.68. This represents a 13.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Reuven Spiegel sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $42.84, for a total transaction of $856,800.00. Following the transaction, the executive vice president directly owned 48,530 shares in the company, valued at $2,079,025.20. This represents a 29.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 172,095 shares of company stock worth $7,257,409. 3.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Pictet Asset Management Holding SA increased its holdings in shares of Delek US by 19.0% during the first quarter. Pictet Asset Management Holding SA now owns 10,519 shares of the oil and gas company’s stock worth $474,000 after purchasing an additional 1,679 shares during the period. Clarus Group Inc. bought a new position in shares of Delek US during the first quarter worth approximately $239,000. Rockefeller Capital Management L.P. increased its holdings in shares of Delek US by 1,327.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,955 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 1,818 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of Delek US by 350.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,037 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 1,585 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Delek US by 28.5% during the fourth quarter. Invesco Ltd. now owns 252,108 shares of the oil and gas company’s stock worth $7,478,000 after purchasing an additional 55,941 shares during the period. 97.01% of the stock is owned by institutional investors.

Delek US Company Profile

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.