Delek US (NYSE:DK) Given New $24.00 Price Target at Bank of America

Key Points

• Bank of America has raised its price target for Delek US from $14.00 to $24.00, but maintains an "underperform" rating on the stock, suggesting a potential downside of 25.04% from its current price.
• Other analysts have mixed ratings on Delek US, with Citigroup setting a price target of $30.00, while average price targets among analysts hover around $23.77.
• Delek US recently reported quarterly earnings, surpassing estimates with a revenue of $2.76 billion but still faced a significant 16.4% year-over-year decline.

Delek US (NYSE:DK - Get Free Report) had its price target boosted by stock analysts at Bank of America from $14.00 to $24.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "underperform" rating on the oil and gas company's stock. Bank of America's price objective suggests a potential downside of 25.04% from the stock's current price.

Other equities analysts have also issued research reports about the company. Citigroup reaffirmed a "neutral" rating and set a $30.00 price target (up previously from $15.00) on shares of Delek US in a research note on Wednesday, July 16th. Mizuho raised Delek US from a "neutral" rating to an "outperform" rating and upped their price target for the company from $22.00 to $23.00 in a research note on Tuesday, May 13th. Raymond James Financial upped their price target on Delek US from $23.00 to $28.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Wells Fargo & Company upped their price target on Delek US from $11.00 to $15.00 and gave the company an "underweight" rating in a research note on Wednesday, June 11th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $20.00 price target (up previously from $14.00) on shares of Delek US in a research note on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Delek US presently has an average rating of "Reduce" and an average target price of $23.77.

Delek US Price Performance

Delek US stock traded up $1.02 on Wednesday, reaching $32.02. The company's stock had a trading volume of 724,189 shares, compared to its average volume of 1,699,352. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -2.60 and a beta of 1.09. The business's fifty day moving average price is $23.59 and its 200 day moving average price is $18.82. Delek US has a twelve month low of $11.02 and a twelve month high of $32.38.

Delek US (NYSE:DK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported ($0.56) EPS for the quarter, topping analysts' consensus estimates of ($0.92) by $0.36. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.68 billion. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%.The business's revenue was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.92) earnings per share. Equities analysts expect that Delek US will post -5.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Delek US

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC increased its holdings in shares of Delek US by 7,331.8% in the second quarter. AlphaQuest LLC now owns 1,635 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 1,613 shares in the last quarter. CWM LLC grew its holdings in shares of Delek US by 100.9% during the first quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock worth $35,000 after buying an additional 1,164 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new position in Delek US during the first quarter valued at approximately $47,000. GAMMA Investing LLC boosted its position in Delek US by 907.0% during the first quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock valued at $63,000 after purchasing an additional 3,746 shares during the last quarter. Finally, State of Wyoming acquired a new position in Delek US during the first quarter valued at approximately $95,000. Institutional investors own 97.01% of the company's stock.

Delek US Company Profile

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.

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