Piper Sandler Increases Delek US (NYSE:DK) Price Target to $34.00

Key Points

• Piper Sandler has increased its price target for Delek US from $29.00 to $34.00, suggesting a potential upside of 15.20% from its current stock price, while maintaining a "neutral" rating.
• Other analysts have varying ratings, with three giving a Buy and others marking it as a Hold or Sell, leading to a consensus rating of "Reduce" at a target price of $24.69.
• Despite reporting a revenue of $2.76 billion, Delek US experienced a negative net margin of 7.11%, reflecting a year-over-year revenue decrease of 16.4%.

Delek US (NYSE:DK - Get Free Report) had its price target increased by equities researchers at Piper Sandler from $29.00 to $34.00 in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has a "neutral" rating on the oil and gas company's stock. Piper Sandler's target price points to a potential upside of 11.86% from the company's current price.

A number of other brokerages have also weighed in on DK. Scotiabank reaffirmed a "sector perform" rating and set a $20.00 price objective (up previously from $14.00) on shares of Delek US in a report on Friday, July 11th. TD Cowen lowered their price target on shares of Delek US from $18.00 to $15.00 and set a "sell" rating on the stock in a research note on Friday, August 8th. UBS Group raised 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. Wolfe Research raised shares of Delek US from a "peer perform" rating to an "outperform" rating and set a $40.00 price objective on the stock in a report on Wednesday, September 3rd. Finally, Bank of America increased their target price on shares of Delek US from $14.00 to $24.00 and gave the company an "underperform" rating in a report on Wednesday, September 3rd. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $25.54.

Delek US Stock Performance

DK traded up $1.92 during trading on Thursday, hitting $30.40. The stock had a trading volume of 973,431 shares, compared to its average volume of 1,732,170. The firm has a market capitalization of $1.83 billion, a P/E ratio of -2.47 and a beta of 1.09. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80. Delek US has a twelve month low of $11.02 and a twelve month high of $32.61. The company's 50-day moving average price is $25.05 and its 200 day moving average price is $19.68.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates of $2.68 billion. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The business's revenue was down 16.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.92) earnings per share. On average, equities research analysts forecast that Delek US will post -5.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of Delek US stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the transaction, the chief financial officer owned 48,294 shares in the company, valued at $1,412,116.56. This trade represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DK. T. Rowe Price Investment Management Inc. acquired a new position in Delek US in the first quarter valued at $13,728,000. Nuveen LLC purchased a new position in shares of Delek US in the 1st quarter worth about $13,629,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Delek US by 113.5% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,601,777 shares of the oil and gas company's stock valued at $33,926,000 after purchasing an additional 851,458 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Delek US by 1,199.2% during the 4th quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company's stock worth $16,100,000 after purchasing an additional 803,274 shares during the period. Finally, Callodine Capital Management LP increased its position in Delek US by 1,827.6% during the 1st quarter. Callodine Capital Management LP now owns 674,661 shares of the oil and gas company's stock worth $10,167,000 after purchasing an additional 639,661 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.