Mizuho Issues Pessimistic Forecast for Delek US (NYSE:DK) Stock Price

Key Points

• Mizuho cut its Delek US price target from $83 to $80 while maintaining a neutral rating; the revised target still implied 18.84% upside from the previous close.
• Analyst views are mixed, though MarketBeat’s overall consensus is “Moderate Buy,” with a consensus price target of $77.50.
• Delek US reported quarterly EPS of $13.55, beating the $8.05 estimate, and revenue of $4.39 billion, up 52.1% year over year.

Delek US (NYSE:DK - Get Free Report) had its price objective dropped by research analysts at Mizuho from $83.00 to $80.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a "neutral" rating on the oil and gas company's stock. Mizuho's target price would indicate a potential upside of 18.84% from the stock's previous close.

A number of other research firms have also recently weighed in on DK. Morgan Stanley increased their price objective on Delek US from $45.00 to $81.00 and gave the stock an "equal weight" rating in a research report on Monday, September 14th. TD Cowen boosted their target price on Delek US from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. Raymond James Financial restated an "outperform" rating and set a $95.00 price target on shares of Delek US in a research note on Friday, November 6th. Weiss Ratings raised Delek US from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Finally, Piper Sandler initiated coverage on Delek US in a report on Tuesday, October 27th. They set a "neutral" rating and a $90.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $77.50.

Delek US Stock Performance

NYSE DK traded down $1.09 during trading on Friday, reaching $67.32. The company's stock had a trading volume of 207,927 shares, compared to its average volume of 1,568,849. The business's fifty day moving average price is $73.13 and its 200-day moving average price is $54.51. Delek US has a twelve month low of $25.85 and a twelve month high of $82.27. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.33. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 3.58, a P/E/G ratio of 0.45 and a beta of 0.61.

Delek US (NYSE:DK - Get Free Report) last announced its earnings results on Friday, November 6th. The oil and gas company reported $13.55 earnings per share for the quarter, topping the consensus estimate of $8.05 by $5.50. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $3.88 billion. Delek US had a net margin of 8.70% and a return on equity of 140.39%. The business's quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.13 earnings per share. As a group, analysts anticipate that Delek US will post 20.15 EPS for the current fiscal year.

Insider Buying and Selling at Delek US

In related news, EVP Mark Hobbs sold 20,000 shares of Delek US stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $64.59, for a total value of $1,291,800.00. Following the sale, the executive vice president directly owned 104,326 shares in the company, valued at $6,738,416.34. The trade was a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Reuven Spiegel sold 10,000 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $68.21, for a total value of $682,100.00. Following the transaction, the executive vice president directly owned 36,435 shares in the company, valued at $2,485,231.35. This represents a 21.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 163,377 shares of company stock worth $11,082,485. 3.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Delek US

A number of hedge funds and other institutional investors have recently bought and sold shares of DK. BlackRock Inc. acquired a new position in shares of Delek US during the 2nd quarter worth $275,233,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Delek US by 26.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,596,093 shares of the oil and gas company's stock valued at $71,936,000 after purchasing an additional 335,892 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Delek US by 19.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,136,720 shares of the oil and gas company's stock worth $51,232,000 after buying an additional 181,820 shares in the last quarter. Bank of America Corp DE boosted its holdings in Delek US by 118.0% during the first quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company's stock worth $38,138,000 after buying an additional 458,004 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Delek US during the second quarter worth about $22,987,000. Institutional investors and hedge funds own 97.01% of the company's stock.

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.

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