Delek US (NYSE:DK) Price Target Raised to $54.00 at Raymond James Financial

Key Points

• Raymond James raised its price target on Delek US to $54.00 and kept an Outperform rating, implying roughly a 19.7% upside from the prior close.
• Analyst sentiment is mixed: the consensus is a Hold with an average price target of $41.00 (4 Buy, 8 Hold, 2 Sell), despite several recent target upgrades.
• Delek beat quarterly EPS expectations ($0.44 vs. ($0.19) expected) but still reported a negative net margin and return on equity, and insiders have sold about 172,095 shares (~$7.26M) in the past 90 days.

Delek US (NYSE:DK - Get Free Report) had its price target upped by equities research analysts at Raymond James Financial from $47.00 to $54.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the oil and gas company's stock. Raymond James Financial's target price suggests a potential upside of 19.67% from the company's previous close.

DK has been the topic of a number of other research reports. TD Cowen raised their price objective on Delek US from $28.00 to $44.00 and gave the company a "hold" rating in a report on Thursday, March 5th. Piper Sandler reduced their price objective on Delek US from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, January 8th. Wall Street Zen upgraded Delek US from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Mizuho lifted their target price on shares of Delek US from $51.00 to $54.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Delek US in a research report on Wednesday, January 21st. Four 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $41.00.

Delek US Price Performance

Delek US stock traded down $0.79 during trading on Wednesday, reaching $45.13. The company had a trading volume of 316,331 shares, compared to its average volume of 1,616,189. The firm's 50-day simple moving average is $35.46 and its 200 day simple moving average is $34.69. Delek US has a 1-year low of $11.02 and a 1-year high of $46.90. The firm has a market capitalization of $2.70 billion, a PE ratio of -129.17 and a beta of 0.75. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.53 and a current ratio of 0.82.

Delek US (NYSE:DK - Get Free Report) last released its earnings results on Friday, February 27th. The oil and gas company reported $0.44 EPS for the quarter, topping 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 business had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.55 billion. During the same quarter in the previous year, the company earned ($2.54) earnings per share. The company's quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Delek US will post -5.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Delek US

In related news, EVP Reuven Spiegel sold 20,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $42.84, for a total transaction of $856,800.00. Following the transaction, the executive vice president owned 48,530 shares of the company's stock, valued at approximately $2,079,025.20. This represents a 29.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Avigal Soreq sold 50,000 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $41.08, for a total transaction of $2,054,000.00. Following the sale, the chief executive officer owned 251,678 shares in the company, valued at $10,338,932.24. This trade represents a 16.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 172,095 shares of company stock valued at $7,257,409. Corporate insiders own 3.56% of the company's stock.

Institutional Trading of Delek US

Hedge funds have recently modified their holdings of the stock. ION Fund Management Ltd acquired a new stake in shares of Delek US during the 4th quarter worth about $52,427,000. Norges Bank acquired a new position in Delek US in the fourth quarter valued at approximately $48,374,000. Arrowstreet Capital Limited Partnership increased its stake in Delek US by 6,300.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company's stock valued at $42,153,000 after purchasing an additional 1,285,861 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Delek US by 1,516.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 996,059 shares of the oil and gas company's stock worth $29,544,000 after purchasing an additional 934,448 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Delek US by 1,173.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company's stock worth $28,322,000 after purchasing an additional 879,900 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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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