Delek US (NYSE:DK) Price Target Raised to $33.00

Key Points

• Raymond James Financial has raised the price target for Delek US from $26.00 to $33.00, indicating a potential upside of 4.58% from its current trading price.
• While the stock holds an "outperform" rating from some analysts, mixed reviews exist, with three analysts advising a buy and five rating it as a sell.
• Delek US reported a quarterly revenue of $2.76 billion, surpassing expectations, despite a year-over-year decline of 16.4% in revenue and negative earnings per share.

Delek US (NYSE:DK - Get Free Report) had its price target boosted by stock analysts at Raymond James Financial from $26.00 to $33.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the oil and gas company's stock. Raymond James Financial's price objective indicates a potential upside of 4.58% from the stock's current price.

A number of other research firms have also issued reports on DK. Cowen restated a "sell" rating on shares of Delek US in a report on Friday, August 8th. UBS Group upped their price objective on shares of Delek US from $24.00 to $29.00 and gave the company a "neutral" rating in a research note on Tuesday, September 2nd. Morgan Stanley boosted their price objective on Delek US from $15.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Mizuho raised shares of Delek US from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $22.00 to $23.00 in a research report on Tuesday, May 13th. Finally, Piper Sandler boosted their target price on Delek US from $17.00 to $27.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $24.15.

Delek US Stock Performance

Delek US stock traded up $1.35 during mid-day trading on Tuesday, reaching $31.55. 683,499 shares of the company traded hands, compared to its average volume of 1,705,596. The firm's fifty day moving average is $24.41 and its two-hundred day moving average is $19.21. Delek US has a fifty-two week low of $11.02 and a fifty-two week high of $32.48. The company has a debt-to-equity ratio of 10.48, a current ratio of 0.80 and a quick ratio of 0.50. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -2.54 and a beta of 1.09.

Delek US (NYSE:DK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.36. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%.The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.68 billion. During the same period last year, the business earned ($0.92) earnings per share. Delek US's quarterly revenue was down 16.4% on a year-over-year basis. On average, equities research analysts expect that Delek US will post -5.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Delek US

In other news, CFO Robert G. Wright sold 7,135 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the completion of the sale, the chief financial officer owned 48,294 shares in the company, valued at $1,412,116.56. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Delek US

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC increased its stake in shares of Delek US by 100.9% in the 1st quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 1,164 shares in the last quarter. AlphaQuest LLC boosted its position in 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 purchasing an additional 1,613 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new stake in Delek US during the first quarter valued at approximately $47,000. GAMMA Investing LLC lifted 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 in the last quarter. Finally, State of Wyoming bought a new position in shares of Delek US during the 1st quarter valued at approximately $95,000. Institutional investors own 97.01% of the company's stock.

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.

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