Delek US (NYSE:DK) Price Target Raised 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 hoisted by Piper Sandler from $29.00 to $34.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas company's stock. Piper Sandler's price target would indicate a potential upside of 15.20% from the company's current price.

A number of other research analysts also recently weighed in on the stock. Scotiabank reiterated a "sector perform" rating and issued a $20.00 price objective (up previously from $14.00) on shares of Delek US in a research report on Friday, July 11th. Wells Fargo & Company upped their price target on shares of Delek US from $11.00 to $15.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 11th. Wolfe Research upgraded shares of Delek US from a "peer perform" rating to an "outperform" rating and set a $40.00 price target for the company in a research report on Wednesday, September 3rd. Morgan Stanley upped their price target on shares of Delek US from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Finally, Cowen restated 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 given a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $24.69.

Delek US Stock Performance

NYSE:DK traded down $0.20 during mid-day trading on Thursday, hitting $29.51. The company's stock had a trading volume of 195,783 shares, compared to its average volume of 1,714,287. Delek US has a 1 year low of $11.02 and a 1 year high of $32.61. 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 stock has a market cap of $1.78 billion, a price-to-earnings ratio of -2.42 and a beta of 1.09. The business's fifty day moving average is $24.75 and its two-hundred day moving average is $19.37.

Delek US (NYSE:DK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) EPS for the quarter, beating the consensus estimate 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 net margin of 7.11% and a negative return on equity of 79.27%. The firm's revenue was down 16.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.92) earnings per share. Analysts anticipate that Delek US will post -5.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Delek US 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 approximately $1,412,116.56. This represents a 12.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company's stock.

Institutional Trading of Delek US

Several hedge funds have recently made changes to their positions in the company. Orion Porfolio Solutions LLC grew its stake in shares of Delek US by 2.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company's stock valued at $492,000 after buying an additional 507 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Delek US during the 2nd quarter worth approximately $1,066,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Delek US by 8.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 11,782 shares of the oil and gas company's stock worth $250,000 after purchasing an additional 955 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Delek US by 216.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,561 shares of the oil and gas company's stock worth $287,000 after purchasing an additional 9,280 shares during the period. Finally, Ion Asset Management Ltd. lifted its holdings in Delek US by 1.8% during the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company's stock worth $79,296,000 after buying an additional 67,490 shares in the last quarter. Hedge funds and other 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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