Wells Fargo & Company Boosts Delek US (NYSE:DK) Price Target to $16.00

Delek US (NYSE:DK) had its price target lifted by equities research analysts at Wells Fargo & Company from $15.00 to $16.00 in a report released on Friday,Benzinga reports. The firm currently has an “underweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price points to a potential downside of 5.77% from the company’s current price.

Several other analysts also recently issued reports on DK. JPMorgan Chase & Co. raised their price target on Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wolfe Research raised Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Morgan Stanley cut their price target on Delek US from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Mizuho cut their price target on Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Piper Sandler cut their price target on Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Five equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.40.

Delek US Price Performance

Shares of DK opened at $16.98 on Friday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -3.49 and a beta of 1.14. The stock has a 50 day moving average of $17.43 and a 200-day moving average of $17.97. The company has a current ratio of 1.04, a quick ratio of 0.67 and a debt-to-equity ratio of 3.18. Delek US has a 52 week low of $13.40 and a 52 week high of $33.60.

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

Insider Buying and Selling at Delek US

In other news, CFO Mark Wayne Hobbs acquired 2,800 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $13.70 per share, for a total transaction of $38,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 49,138 shares in the company, valued at $673,190.60. This represents a 6.04 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders have acquired 5,055 shares of company stock valued at $70,787 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

Several institutional investors have recently modified their holdings of the company. Ion Asset Management Ltd. lifted its holdings in shares of Delek US by 16.5% in the fourth quarter. Ion Asset Management Ltd. now owns 3,455,000 shares of the oil and gas company’s stock valued at $63,918,000 after buying an additional 488,509 shares during the period. State Street Corp lifted its holdings in shares of Delek US by 8.0% in the third quarter. State Street Corp now owns 3,019,307 shares of the oil and gas company’s stock valued at $56,612,000 after buying an additional 223,110 shares during the period. Rubric Capital Management LP acquired a new stake in shares of Delek US during the third quarter worth $37,500,000. Barclays PLC raised its position in shares of Delek US by 23.1% during the fourth quarter. Barclays PLC now owns 1,842,035 shares of the oil and gas company’s stock worth $34,078,000 after purchasing an additional 345,210 shares during the period. Finally, FMR LLC raised its position in shares of Delek US by 47.3% during the third quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company’s stock worth $32,021,000 after purchasing an additional 548,777 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.