The Goldman Sachs Group Increases Delek US (NYSE:DK) Price Target to $28.00

Key Points

• Goldman Sachs has raised the target price for Delek US from $25.00 to $28.00 while maintaining a "neutral" rating, suggesting a potential downside of 1.66% from its previous close.
• Several analysts have varying opinions on Delek US, with price targets ranging from $15.00 to $34.00, resulting in a consensus rating of "Reduce" and an average price target of $25.54.
• Delek US shares traded up 2.1% to $28.47 during mid-day trading, and the company reported a quarterly revenue of $2.76 billion, exceeding analyst expectations.

Delek US (NYSE:DK - Free Report) had its target price increased by The Goldman Sachs Group from $25.00 to $28.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the oil and gas company's stock.

A number of other analysts have also weighed in on DK. Cowen reaffirmed a "sell" rating on shares of Delek US in a research note on Friday, August 8th. Scotiabank reissued a "sector perform" rating and set a $20.00 price target (up from $14.00) on shares of Delek US in a research report on Friday, July 11th. TD Cowen decreased their price target on shares of Delek US from $18.00 to $15.00 and set a "sell" rating for the company in a research report on Friday, August 8th. Piper Sandler increased their price target on shares of Delek US from $29.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, September 11th. Finally, Raymond James Financial increased their price target on shares of Delek US from $26.00 to $33.00 and gave the company an "outperform" rating in a research report on Tuesday, September 9th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $26.54.

Delek US Stock Down 2.3%

NYSE:DK traded down $0.75 during mid-day trading on Monday, reaching $31.37. The company's stock had a trading volume of 2,485,908 shares, compared to its average volume of 2,303,857. Delek US has a 1 year low of $11.02 and a 1 year high of $32.61. The stock has a fifty day moving average of $25.54 and a 200-day moving average of $20.06. The firm has a market capitalization of $1.89 billion, a PE ratio of -2.55 and a beta of 1.09. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 10.48.

Delek US (NYSE:DK - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share for the quarter, topping analysts' consensus estimates of ($0.92) by $0.36. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period in the prior year, the firm earned ($0.92) earnings per share. The firm's revenue for the quarter was down 16.4% compared to the same quarter last year. Equities research analysts forecast that Delek US will post -5.5 earnings per share for the current year.

Delek US Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, August 11th. Delek US's dividend payout ratio is -8.30%.

Insiders Place Their Bets

In related news, CFO Robert G. Wright sold 7,135 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the transaction, the chief financial officer owned 48,294 shares in the company, valued at approximately $1,412,116.56. This represents a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Delek US

Several hedge funds and other institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. purchased a new stake in Delek US in the 1st quarter worth approximately $13,728,000. Nuveen LLC purchased a new position in shares of Delek US during the 1st quarter valued at approximately $13,629,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Delek US by 113.5% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,601,777 shares of the oil and gas company's stock valued at $33,926,000 after buying an additional 851,458 shares in the last quarter. Millennium Management LLC lifted its position in shares of Delek US by 1,199.2% during the 4th quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company's stock valued at $16,100,000 after buying an additional 803,274 shares in the last quarter. Finally, Callodine Capital Management LP lifted its position in shares of Delek US by 1,827.6% during the 1st quarter. Callodine Capital Management LP now owns 674,661 shares of the oil and gas company's stock valued at $10,167,000 after buying an additional 639,661 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Delek US Company Profile

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.