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

Key Points

• TD Cowen raised its price target on Delek US from $28 to $44 and kept a "hold" rating, with the new target implying roughly a 1.52% downside from the current share price.
• Analyst consensus remains a Hold—the street averages a $39.46 price target with 4 Buys, 8 Holds and 2 Sells.
• Delek US beat quarterly EPS estimates ($0.44 vs. consensus -$0.19) while revenue missed at $2.43B, and the company still shows a negative return on equity and a very thin net margin.

Delek US (NYSE:DK - Get Free Report) had its price target upped by equities research analysts at TD Cowen from $28.00 to $44.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm currently has a "hold" rating on the oil and gas company's stock. TD Cowen's price target points to a potential downside of 1.52% from the company's current price.

DK has been the topic of a number of other research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Delek US in a research note on Wednesday, January 21st. Citigroup decreased their target price on Delek US from $37.00 to $33.00 and set a "neutral" rating for the company in a research note on Monday, January 26th. JPMorgan Chase & Co. dropped their price target on Delek US from $42.00 to $38.00 and set a "neutral" rating on the stock in a research report on Thursday, January 15th. Wells Fargo & Company increased their target price on Delek US from $43.00 to $53.00 and gave the stock an "overweight" rating in a research note on Monday, November 10th. Finally, Piper Sandler reduced their price target on shares of Delek US from $47.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $39.46.

Delek US Price Performance

Shares of NYSE:DK traded up $1.50 during trading on Thursday, reaching $44.68. The stock had a trading volume of 182,500 shares, compared to its average volume of 1,552,493. The stock has a market capitalization of $2.68 billion, a PE ratio of -127.66 and a beta of 0.75. Delek US has a 52 week low of $11.02 and a 52 week high of $45.38. The business's 50-day moving average price is $31.82 and its 200 day moving average price is $33.09. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.82 and a quick ratio of 0.58.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DK. Brown Brothers Harriman & Co. bought a new position in shares of Delek US in the third quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Delek US by 95.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company's stock worth $26,000 after acquiring an additional 432 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Delek US by 173.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 614 shares in the last quarter. Torren Management LLC acquired a new position in Delek US during the fourth quarter valued at approximately $40,000. Finally, Focus Partners Wealth acquired a new stake in shares of Delek US in the 3rd quarter valued at $44,000. 97.01% of the stock is owned by institutional investors.

Delek US Company Profile

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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