Delek US (NYSE:DK) Price Target Raised to $27.00

Delek US (NYSE:DK - Free Report) had its target price hoisted by Piper Sandler from $17.00 to $27.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas company's stock.

Several other brokerages have also recently issued reports on DK. Mizuho upgraded shares of Delek US from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $22.00 to $23.00 in a report on Tuesday, May 13th. Citigroup restated a "neutral" rating and issued a $30.00 target price (up previously from $15.00) on shares of Delek US in a report on Wednesday, July 16th. The Goldman Sachs Group raised their target price on shares of Delek US from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Scotiabank reiterated 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. Finally, Raymond James Financial lifted their price target on shares of Delek US from $23.00 to $28.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $20.60.

Delek US Stock Up 0.4%

Shares of NYSE:DK traded up $0.09 during trading on Tuesday, reaching $22.68. 2,176,160 shares of the stock traded hands, compared to its average volume of 1,606,715. The stock has a 50-day moving average of $21.62 and a two-hundred day moving average of $17.94. Delek US has a 52-week low of $11.02 and a 52-week high of $27.07. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.53 and a current ratio of 0.85. The stock has a market cap of $1.38 billion, a P/E ratio of -2.04 and a beta of 0.98.

Delek US (NYSE:DK - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas company reported ($2.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.27) by ($0.05). Delek US had a negative return on equity of 63.88% and a negative net margin of 6.10%. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter in the prior year, the business posted ($0.41) EPS. The company's revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, sell-side analysts expect that Delek US will post -5.5 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 12th were given a dividend of $0.255 per share. The ex-dividend date was Monday, May 12th. This represents a $1.02 annualized dividend and a dividend yield of 4.50%. Delek US's payout ratio is -9.18%.

Institutional Trading of Delek US

Several institutional investors and hedge funds have recently modified their holdings of DK. T. Rowe Price Investment Management Inc. bought a new stake in shares of Delek US during the 1st quarter valued at $13,728,000. Nuveen LLC bought a new stake in shares of Delek US during the 1st quarter valued at $13,629,000. Millennium Management LLC increased its holdings in Delek US by 1,199.2% in the 4th quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company's stock valued at $16,100,000 after acquiring an additional 803,274 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in Delek US in the 4th quarter valued at $13,680,000. Finally, Callodine Capital Management LP increased its holdings in Delek US by 1,827.6% in the 1st quarter. Callodine Capital Management LP now owns 674,661 shares of the oil and gas company's stock valued at $10,167,000 after acquiring an additional 639,661 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

About Delek US

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.