Delek US (NYSE:DK) Stock Price Target Raised at Citigroup

Key Points

• Citigroup raised Delek US’s price target from $62 to $70 but maintained a neutral rating; the target implies 7.7% upside from the share price at the time of the report.
• Analyst views overall were more positive: Delek had a consensus “Moderate Buy” rating and an average price target of $77.58.
• Delek reported quarterly EPS of $13.55, beating the $8.05 consensus estimate, while revenue rose 52.1% year over year to $4.39 billion.

Delek US (NYSE:DK - Get Free Report) had its price objective raised by stock analysts at Citigroup from $62.00 to $70.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas company's stock. Citigroup's target price would suggest a potential upside of 7.70% from the stock's current price.

Several other equities research analysts have also commented on the stock. Wall Street Zen raised shares of Delek US from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 9th. The Goldman Sachs Group upped their price objective on shares of Delek US from $83.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, October 15th. Weiss Ratings upgraded Delek US from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. increased their price objective on Delek US from $57.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Finally, Mizuho lowered Delek US from an "outperform" rating to a "neutral" rating and raised their price objective for the company from $66.00 to $83.00 in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.58.

Delek US Stock Performance

Shares of DK stock traded up $1.05 during mid-day trading on Monday, reaching $65.00. The stock had a trading volume of 494,053 shares, compared to its average volume of 1,574,185. The business's fifty day moving average is $73.68 and its 200-day moving average is $53.75. The company has a current ratio of 1.33, a quick ratio of 0.92 and a debt-to-equity ratio of 2.03. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 3.44, a PEG ratio of 0.47 and a beta of 0.61. Delek US has a 1-year low of $25.85 and a 1-year high of $82.27.

Delek US (NYSE:DK - Get Free Report) last released its earnings results on Friday, November 6th. The oil and gas company reported $13.55 EPS for the quarter, topping 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 firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the company posted $7.13 earnings per share. The company's revenue was up 52.1% compared to the same quarter last year. On average, research analysts forecast that Delek US will post 18.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Vicky Sutil sold 6,397 shares of Delek US stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $71.50, for a total transaction of $457,385.50. Following the transaction, the director owned 26,407 shares in the company, valued at approximately $1,888,100.50. This trade represents a 19.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amber Russell sold 5,392 shares of the business's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $75.50, for a total value of $407,096.00. Following the transaction, the executive vice president directly owned 35,670 shares in the company, valued at $2,693,085. This trade represents a 13.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 163,377 shares of company stock valued at $11,082,485. Insiders own 3.56% of the company's stock.

Institutional Trading of Delek US

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtus Advisers LLC increased its position in shares of Delek US by 191.0% during the third quarter. Virtus Advisers LLC now owns 13,449 shares of the oil and gas company's stock valued at $960,000 after acquiring an additional 8,827 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Delek US by 52.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 99,478 shares of the oil and gas company's stock worth $7,092,000 after acquiring an additional 34,054 shares during the last quarter. R Squared Ltd acquired a new position in shares of Delek US in the 3rd quarter worth approximately $491,000. Maryland State Retirement & Pension System acquired a new position in shares of Delek US in the 3rd quarter worth approximately $973,000. Finally, Knights of Columbus Asset Advisors LLC purchased a new position in shares of Delek US during the 3rd quarter worth approximately $1,081,000. 97.01% of the stock is owned by institutional investors and hedge funds.

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.

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