Delek US (NYSE:DK) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• Goldman Sachs raised Delek US’s price target to $97 from $83 and maintained a “buy” rating, implying 23.16% upside from the prior close.
• Delek US reported strong quarterly results, with EPS of $5.48 versus the $2.67 consensus estimate and revenue of $4.09 billion, up 47.9% year over year.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and average price target of $70.83, although insiders sold 163,377 shares worth approximately $11.1 million over the past three months.

Delek US (NYSE:DK - Get Free Report) had its price target hoisted by investment analysts at The Goldman Sachs Group from $83.00 to $97.00 in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a "buy" rating on the oil and gas company's stock. The Goldman Sachs Group's target price suggests a potential upside of 23.16% from the stock's previous close.

Several other equities research analysts have also recently weighed in on DK. JPMorgan Chase & Co. increased their price target on shares of Delek US from $57.00 to $62.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Zacks Research upgraded shares of Delek US from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 26th. Morgan Stanley boosted their price objective on shares of Delek US from $45.00 to $81.00 and gave the company an "equal weight" rating in a research report on Monday, September 14th. TD Cowen upped their price objective on shares of Delek US from $76.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, September 14th. Finally, Weiss Ratings upgraded shares of Delek US from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Delek US currently has a consensus rating of "Moderate Buy" and an average target price of $70.83.

Delek US Stock Performance

NYSE:DK opened at $78.76 on Thursday. The firm has a market cap of $4.82 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 0.40 and a beta of 0.62. Delek US has a fifty-two week low of $25.85 and a fifty-two week high of $82.27. The company has a debt-to-equity ratio of 7.53, a quick ratio of 0.47 and a current ratio of 0.76. The business has a 50 day moving average price of $71.64 and a 200-day moving average price of $56.95.

Delek US (NYSE:DK - Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $2.81. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The firm had revenue of $4.09 billion for the quarter, compared to analysts' expectations of $3.44 billion. During the same quarter last year, the business earned ($0.56) earnings per share. The business's revenue was up 47.9% on a year-over-year basis. Equities research analysts predict that Delek US will post 15.95 earnings per share for the current year.

Insider Buying and Selling

In other Delek US news, Director Vicky Sutil sold 6,397 shares of the business's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $71.50, for a total transaction of $457,385.50. Following the transaction, the director directly owned 26,407 shares of the company's stock, valued at approximately $1,888,100.50. The trade was a 19.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary M. Jr. Sullivan sold 27,688 shares of the company's stock in a transaction on 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 owned 32,004 shares of the company's stock, valued at $2,208,596.04. This trade represents a 46.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 163,377 shares of company stock valued at $11,082,485 over the last three months. Insiders own 3.56% of the company's stock.

Institutional Investors Weigh In On Delek US

Large investors have recently modified their holdings of the stock. Allworth Financial LP purchased a new position in Delek US during the second quarter valued at $30,000. Fortitude Family Office LLC grew its position in shares of Delek US by 223.7% in the 3rd quarter. Fortitude Family Office LLC now owns 547 shares of the oil and gas company's stock worth $39,000 after buying an additional 378 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of Delek US by 1,327.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,955 shares of the oil and gas company's stock worth $58,000 after buying an additional 1,818 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Delek US by 350.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,037 shares of the oil and gas company's stock worth $60,000 after buying an additional 1,585 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Delek US in the 2nd quarter worth about $61,000. Institutional investors own 97.01% of the company's stock.

Delek US Company Profile

Delek US Holdings, Inc is an independent downstream energy company headquartered in Brentwood, Tennessee. The company operates petroleum refineries and related logistics assets, producing transportation fuels and other refined petroleum products for commercial and wholesale customers.

Delek's refining operations have included facilities in the U.S. Gulf Coast and Mid-Continent regions, with assets in Texas, Arkansas and Louisiana. Its products may include gasoline, diesel, jet fuel, asphalt and other refined products.

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