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 target price boosted by analysts at Raymond James Financial from $26.00 to $33.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has an "outperform" rating on the oil and gas company's stock. Raymond James Financial's price target suggests a potential upside of 18.36% from the stock's previous close.

Several other equities analysts have also recently weighed in on DK. The Goldman Sachs Group lifted their price target on Delek US from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Scotiabank reiterated a "sector perform" rating and issued a $20.00 price target (up from $14.00) on shares of Delek US in a research report on Friday, July 11th. Piper Sandler lifted their price target on Delek US from $17.00 to $27.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Morgan Stanley lifted their price target on Delek US from $15.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Finally, Cowen reiterated a "sell" rating on shares of Delek US in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $24.69.

Delek US Stock Performance

NYSE:DK traded down $0.79 during trading hours on Tuesday, reaching $27.88. The stock had a trading volume of 2,805,176 shares, compared to its average volume of 2,559,875. 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 stock has a 50 day simple moving average of $24.95 and a 200 day simple moving average of $19.57. Delek US has a 12-month low of $11.02 and a 12-month high of $32.61. The stock has a market cap of $1.68 billion, a P/E ratio of -2.27 and a beta of 1.09.

Delek US (NYSE:DK - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.92) by $0.36. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 16.4% on a year-over-year basis. During the same period last year, the business posted ($0.92) earnings per share. On average, research analysts forecast that Delek US will post -5.5 EPS for the current fiscal year.

Insider Transactions at Delek US

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of Delek US stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $29.24, for a total transaction of $208,627.40. Following the completion of the sale, the chief financial officer owned 48,294 shares of the company's stock, valued at $1,412,116.56. The trade was 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. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Delek US

Several hedge funds have recently added to or reduced their stakes in DK. CWM LLC lifted its stake in 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 purchasing an additional 1,164 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Delek US by 7,331.8% in the 2nd quarter. AlphaQuest LLC now owns 1,635 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 1,613 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new stake in shares of Delek US in the 1st quarter valued at about $47,000. GAMMA Investing LLC lifted its stake in shares of Delek US by 907.0% in the 1st quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock valued at $63,000 after acquiring an additional 3,746 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Delek US in the 1st quarter valued at about $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.