Delek US (NYSE:DK) Price Target Raised to $66.00

Key Points

• Mizuho raised Delek US’s price target from $60 to $66 and maintained an “outperform” rating, implying 8.57% upside from the prior close.
• Analyst sentiment is mixed: the consensus rating remains “Hold” with a $52.38 target, although TD Cowen and Raymond James set higher targets of $76 and $70, respectively.
• Delek US reported a strong quarterly performance, earning $5.48 per share versus the $2.67 estimate and generating $4.09 billion in revenue, up 47.9% year over year.

Delek US (NYSE:DK - Get Free Report) had its price objective raised by Mizuho from $60.00 to $66.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the oil and gas company's stock. Mizuho's target price would suggest a potential upside of 8.57% from the company's previous close.

A number of other brokerages have also weighed in on DK. TD Cowen boosted their target price on Delek US from $58.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Raymond James Financial boosted their price objective on shares of Delek US from $60.00 to $70.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Morgan Stanley raised their target price on shares of Delek US from $41.00 to $45.00 and gave the stock an "equal weight" rating in a report on Friday, June 12th. Weiss Ratings upgraded shares of Delek US from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on Delek US from $57.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Delek US presently has a consensus rating of "Hold" and a consensus price target of $52.38.

Delek US Price Performance

DK opened at $60.79 on Tuesday. Delek US has a 12-month low of $20.06 and a 12-month high of $68.93. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The stock has a fifty day simple moving average of $54.54 and a two-hundred day simple moving average of $45.11.

Delek US (NYSE:DK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.67 by $2.81. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The business's revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.56) earnings per share. Research analysts predict that Delek US will post 9.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Delek US news, EVP Robert G. Wright sold 10,720 shares of Delek US stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $47.07, for a total value of $504,590.40. Following the sale, the executive vice president directly owned 48,148 shares in the company, valued at approximately $2,266,326.36. The trade was a 18.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vicky Sutil sold 3,061 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $46.00, for a total transaction of $140,806.00. Following the completion of the sale, the director owned 31,239 shares in the company, valued at approximately $1,436,994. The trade was a 8.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 39,270 shares of company stock worth $1,828,718 over the last ninety days. 3.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Delek US

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Delek US by 18.4% in the 1st quarter. Royal Bank of Canada now owns 278,774 shares of the oil and gas company's stock worth $4,201,000 after acquiring an additional 43,379 shares during the last quarter. AQR Capital Management LLC bought a new stake in Delek US in the first quarter worth $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Delek US by 3.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company's stock worth $560,000 after buying an additional 1,102 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Delek US by 3,979.8% during the 1st quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company's stock valued at $307,000 after buying an additional 19,899 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Delek US by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company's stock worth $2,213,000 after acquiring an additional 9,827 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

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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