Delek US (NYSE:DK) Price Target Raised to $73.00 at The Goldman Sachs Group

Key Points

• Goldman Sachs raised its price target on Delek US to $73 from $58 and kept a buy rating, implying about 15% upside from the current share price.
• The stock has drawn broader analyst support, with several firms recently lifting targets or upgrading ratings; however, MarketBeat still shows a consensus rating of Hold and an average target of $50.54.
• Delek US shares rose 2.8% to $63.32, near their 52-week high, after the company recently posted better-than-expected earnings and revenue.

Delek US (NYSE:DK - Get Free Report) had its price objective boosted by investment analysts at The Goldman Sachs Group from $58.00 to $73.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas company's stock. The Goldman Sachs Group's target price would indicate a potential upside of 15.29% from the company's current price.

A number of other research analysts also recently issued reports on DK. Morgan Stanley raised their price target on Delek US from $41.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Friday, June 12th. TD Cowen upgraded Delek US from a "hold" rating to a "buy" rating and boosted their price objective for the company from $50.00 to $58.00 in a research note on Monday, June 29th. Raymond James Financial raised their target price on shares of Delek US from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday. Mizuho lifted their target price on shares of Delek US from $54.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Finally, UBS Group upped their price target on shares of Delek US from $42.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $50.54.

Delek US Stock Up 2.8%

Shares of DK stock traded up $1.73 on Friday, reaching $63.32. 456,029 shares of the stock were exchanged, compared to its average volume of 1,398,749. The business's 50 day moving average price is $47.96 and its 200 day moving average price is $40.98. Delek US has a twelve month low of $19.81 and a twelve month high of $64.05. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 10.51. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -69.49, a PEG ratio of 0.33 and a beta of 0.58.

Delek US (NYSE:DK - Get Free Report) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of ($1.42) by $1.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the firm posted ($2.32) EPS. The company's revenue was up .4% on a year-over-year basis. As a group, sell-side analysts expect that Delek US will post 6.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Laurie Z. Tolson sold 4,921 shares of Delek US stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $46.30, for a total value of $227,842.30. Following the sale, the director directly owned 18,226 shares in the company, valued at $843,863.80. The trade was a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Finnerty sold 5,000 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $51.50, for a total value of $257,500.00. Following the transaction, the director directly owned 34,805 shares in the company, valued at $1,792,457.50. This represents a 12.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 39,270 shares of company stock worth $1,828,718 in the last three months. Company insiders own 3.56% of the company's stock.

Institutional Investors Weigh In On Delek US

Institutional investors and hedge funds have recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new stake in Delek US during the third quarter worth $27,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Delek US by 95.6% in 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 buying an additional 432 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Delek US by 173.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company's stock worth $29,000 after buying an additional 614 shares in the last quarter. Torren Management LLC acquired a new stake in Delek US in the 4th quarter valued at about $40,000. Finally, Focus Partners Wealth purchased a new position in Delek US during the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 97.01% of the company's stock.

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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