Delek US (NYSE:DK) Price Target Cut to $22.00

Delek US (NYSE:DK) had its price target lowered by research analysts at Morgan Stanley from $24.00 to $22.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective points to a potential upside of 9.45% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. TD Cowen dropped their price objective on Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Scotiabank reduced their price target on shares of Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. StockNews.com raised shares of Delek US from a “sell” rating to a “hold” rating in a report on Friday, September 13th. JPMorgan Chase & Co. upgraded shares of Delek US from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $26.00 in a report on Tuesday, September 10th. Finally, Wells Fargo & Company boosted their target price on shares of Delek US from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.27.

Delek US Price Performance

Shares of DK opened at $20.10 on Monday. Delek US has a fifty-two week low of $18.35 and a fifty-two week high of $33.60. The firm’s 50-day simple moving average is $21.13 and its two-hundred day simple moving average is $25.27. The stock has a market cap of $1.29 billion, a PE ratio of -16.21 and a beta of 1.14. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.58 and a current ratio of 0.98.

Delek US (NYSE:DK) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.50. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s quarterly revenue was down 18.4% compared to the same quarter last year. Analysts anticipate that Delek US will post -2.87 earnings per share for the current fiscal year.

Insider Activity at Delek US

In other news, CEO Avigal Soreq bought 5,651 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the transaction, the chief executive officer now owns 188,881 shares of the company’s stock, valued at $3,856,950.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Delek US

Several hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. purchased a new stake in Delek US during the 1st quarter valued at $31,000. Quarry LP purchased a new stake in shares of Delek US in the second quarter valued at $43,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Delek US in the 1st quarter worth about $172,000. TFO Wealth Partners LLC boosted its stake in shares of Delek US by 627,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock worth $162,000 after purchasing an additional 6,274 shares during the period. Finally, Bailard Inc. bought a new position in Delek US during the 2nd quarter valued at about $201,000. 97.01% of the stock is currently 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.