Delek US (NYSE:DK) Stock Gets Price Target Increase from Citigroup

Delek US (NYSE:DK) had its target price hoisted by research analysts at Citigroup from $62.00 to $70.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Citigroup‘s price target would indicate a potential upside of 7.70% from the stock’s current price.

DK has been the topic of a number of other reports. Weiss Ratings upgraded shares of Delek US from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Delek US from $57.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Piper Sandler assumed coverage on shares of Delek US in a report on Tuesday, October 27th. They issued a “neutral” rating and a $90.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Delek US from $82.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Finally, Freedom Broker started coverage on shares of Delek US in a research note on Wednesday, October 7th. They set a “hold” rating and a $86.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.58.

Delek US Trading Up 1.6%

Shares of DK stock traded up $1.05 on Monday, hitting $65.00. The stock had a trading volume of 494,053 shares, compared to its average volume of 1,574,185. The company’s 50 day moving average price is $73.68 and its 200-day moving average price is $53.75. Delek US has a 1 year low of $25.85 and a 1 year high of $82.27. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.33 and a quick ratio of 0.92. The firm has a market capitalization of $3.98 billion, a P/E ratio of 3.44, a P/E/G ratio of 0.47 and a beta of 0.61.

Delek US (NYSE:DK) last announced its earnings results on Friday, November 6th. The oil and gas company reported $13.55 EPS for the quarter, beating analysts’ consensus estimates of $8.05 by $5.50. Delek US had a return on equity of 140.39% and a net margin of 8.70%. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same period last year, the business posted $7.13 EPS. Delek US’s revenue for the quarter was up 52.1% on a year-over-year basis. Analysts anticipate that Delek US will post 18.62 earnings per share for the current year.

Insider Activity at Delek US

In other Delek US news, Director Vicky Sutil sold 6,397 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $71.50, for a total value of $457,385.50. Following the sale, the director owned 26,407 shares of the company’s stock, valued at $1,888,100.50. This trade represents a 19.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Reuven Spiegel sold 7,500 shares of Delek US stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $73.21, for a total value of $549,075.00. Following the completion of the transaction, the executive vice president owned 28,935 shares of the company’s stock, valued at $2,118,331.35. The trade was a 20.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 163,377 shares of company stock worth $11,082,485 over the last quarter. 3.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd grew its holdings in Delek US by 445.3% during the 2nd quarter. WINTON GROUP Ltd now owns 57,800 shares of the oil and gas company’s stock worth $2,937,000 after acquiring an additional 47,200 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Delek US by 118.0% in the 1st quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock valued at $38,138,000 after purchasing an additional 458,004 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Delek US in the 2nd quarter valued at $10,664,000. SummerHaven Investment Management LLC purchased a new stake in shares of Delek US during the 3rd quarter worth $2,403,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Delek US during the 2nd quarter worth $1,568,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

Delek US Holdings, Inc is an independent downstream energy company focused on petroleum refining and related logistics in the southern United States. Its refining operations are located in Texas, Arkansas and Louisiana, where it processes crude oil into transportation fuels and other petroleum products.

Products from Delek US refineries include gasoline, diesel, jet fuel, asphalt and petroleum coke. The company also markets refined products to customers and operates midstream assets, including pipelines, terminals and storage facilities, through its subsidiary Delek Logistics Partners.

Founded in 2001, Delek US has grown through acquisitions and investments in refining and energy infrastructure.