Delek US (NYSE:DK) Price Target Raised to $44.00

Key Points

• Citigroup raised its price target on Delek US to $44 (from $33) while maintaining a "neutral" rating; the stock's consensus analyst target is also $44 with a consensus rating of "Hold" (5 Buy, 7 Hold, 2 Sell).
• Delek US reported quarterly EPS of $0.44, beating estimates, yet the company still shows a negative net margin and return on equity; the stock traded at $41.28 and insiders sold roughly 172,095 shares (~$7.26M) over the last three months.

Delek US (NYSE:DK - Get Free Report) had its price target raised by equities researchers at Citigroup from $33.00 to $44.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas company's stock. Citigroup's price target would indicate a potential upside of 6.59% from the stock's previous close.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Delek US from $42.00 to $38.00 and set a "neutral" rating on the stock in a research report on Thursday, January 15th. Piper Sandler lowered their price objective on shares of Delek US from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, January 8th. The Goldman Sachs Group raised shares of Delek US from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $43.00 to $55.00 in a research report on Friday. Scotiabank raised shares of Delek US to a "hold" rating in a research report on Friday, March 27th. Finally, UBS Group lifted their target price on shares of Delek US from $42.00 to $48.00 and gave the company a "neutral" rating in a research note on Friday. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $44.00.

Delek US Stock Down 1.1%

DK traded down $0.46 on Monday, reaching $41.28. 581,093 shares of the company traded hands, compared to its average volume of 1,543,799. The stock's 50 day moving average price is $39.68 and its 200-day moving average price is $35.95. Delek US has a 52-week low of $11.94 and a 52-week high of $48.32. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -117.46, a PEG ratio of 1.29 and a beta of 0.68. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.82 and a quick ratio of 0.53.

Delek US (NYSE:DK - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The oil and gas company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.63. Delek US had a negative net margin of 0.21% and a negative return on equity of 13.55%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm posted ($2.54) earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Delek US will post -5.5 EPS for the current fiscal year.

Insider Transactions at Delek US

In other Delek US news, EVP Reuven Spiegel sold 20,000 shares of Delek US stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $42.84, for a total value of $856,800.00. Following the completion of the sale, the executive vice president directly owned 48,530 shares in the company, valued at $2,079,025.20. The trade was a 29.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Finnerty sold 5,000 shares of the business's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $45.50, for a total transaction of $227,500.00. Following the completion of the sale, the director owned 41,369 shares of the company's stock, valued at $1,882,289.50. The trade was a 10.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 172,095 shares of company stock valued at $7,257,409. Insiders own 3.56% of the company's stock.

Institutional Trading of Delek US

Institutional investors and hedge funds have recently modified their holdings of the company. Allianz Asset Management GmbH lifted its stake in shares of Delek US by 40.2% in the third quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company's stock worth $47,569,000 after buying an additional 423,017 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Delek US in the third quarter worth $1,338,000. Federated Hermes Inc. acquired a new position in Delek US during the 3rd quarter valued at $5,416,000. Mercuria Capital Strategies LLC acquired a new position in Delek US during the 3rd quarter valued at $8,755,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in Delek US during the 3rd quarter valued at $2,834,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

About Delek US

Delek US Holdings, Inc NYSE: DK is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.

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