Delek US (NYSE:DK) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen raised Delek US’s price target to $90 from $76 and maintained a “buy” rating, implying 18.09% upside from the prior close. The consensus rating is “Moderate Buy,” with an average price target of $60.36.
• Delek US reported strong quarterly results, earning $5.48 per share versus the $2.67 consensus estimate on revenue of $4.09 billion, up 47.9% year over year.
• The stock opened at $76.22, near its 52-week high of $78.43, while insiders sold 160,042 shares worth about $10.7 million over the past 90 days. Institutional investors own 97.01% of the company.

Delek US (NYSE:DK - Get Free Report) had its target price hoisted by analysts at TD Cowen from $76.00 to $90.00 in a report released on Monday, Briefing.com reports. The brokerage presently has a "buy" rating on the oil and gas company's stock. TD Cowen's price target would indicate a potential upside of 18.09% from the company's previous close.

A number of other research analysts also recently weighed in on DK. The Goldman Sachs Group raised their price target on Delek US from $73.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Citigroup reiterated a "neutral" rating on shares of Delek US in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Delek US from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 9th. Wells Fargo & Company increased their price target on shares of Delek US from $59.00 to $82.00 and gave the company an "overweight" rating in a research note on Tuesday, September 1st. Finally, Mizuho lifted their price objective on shares of Delek US from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.36.

Delek US Trading Up 0.2%

Shares of NYSE:DK opened at $76.22 on Monday. The company's 50-day moving average price is $65.73 and its two-hundred day moving average price is $51.60. Delek US has a one year low of $25.85 and a one year high of $78.43. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47. The stock has a market capitalization of $4.67 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 0.50 and a beta of 0.59.

Delek US (NYSE:DK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, beating the consensus estimate of $2.67 by $2.81. The company had revenue of $4.09 billion during the quarter, compared to analysts' expectations of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.Delek US's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.56) EPS. On average, equities analysts forecast that Delek US will post 11.93 EPS for the current fiscal year.

Insider Activity

In other Delek US news, EVP Reuven Spiegel sold 7,500 shares of Delek US stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $73.21, for a total value of $549,075.00. Following the transaction, the executive vice president owned 28,935 shares in the company, valued at $2,118,331.35. The trade was a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary M. Jr. Sullivan sold 27,688 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $69.01, for a total transaction of $1,910,748.88. Following the completion of the transaction, the director directly owned 32,004 shares of the company's stock, valued at $2,208,596.04. This trade represents a 46.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 160,042 shares of company stock valued at $10,705,777. Corporate insiders own 3.56% of the company's stock.

Institutional Trading of Delek US

A number of hedge funds and other institutional investors have recently modified their holdings of DK. Royal Bank of Canada grew its position in Delek US by 18.4% during the 1st quarter. Royal Bank of Canada now owns 278,774 shares of the oil and gas company's stock worth $4,201,000 after acquiring an additional 43,379 shares during the last quarter. AQR Capital Management LLC bought a new position in Delek US in the 1st quarter valued at approximately $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Delek US by 3.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company's stock worth $560,000 after acquiring an additional 1,102 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Delek US by 3,979.8% during the first quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company's stock valued at $307,000 after acquiring an additional 19,899 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Delek US by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company's stock worth $2,213,000 after purchasing an additional 9,827 shares during the period. Institutional investors own 97.01% of the company's stock.

About Delek US

Delek US Holdings, Inc NYSE: DK is a downstream energy company engaged primarily in petroleum refining, wholesale fuel marketing and logistics. The company produces transportation fuels and other refined petroleum products, including gasoline, diesel, jet fuel and asphalt.

Delek US operates refineries in the southern United States, including facilities in Texas, Arkansas and Louisiana. Its refining operations are supported by crude oil gathering, transportation, storage and other logistics activities conducted through Delek Logistics Partners, a publicly traded master limited partnership that is managed and partially owned by Delek US.

Founded in 2001 and headquartered in Brentwood, Tennessee, Delek US serves regional markets across the central and southeastern United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.