Delek US (NYSE:DK) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

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 - Get Free Report) had its target price raised by equities researchers at The Goldman Sachs Group from $25.00 to $28.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas company's stock. The Goldman Sachs Group's price target would suggest a potential downside of 1.66% from the company's previous close.

DK has been the subject of several other reports. 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. Morgan Stanley increased their price target on shares of Delek US from $15.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Cowen reissued a "sell" rating on shares of Delek US 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. Finally, 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. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Delek US has a consensus rating of "Reduce" and an average price target of $25.54.

Delek US Trading Up 2.1%

Shares of NYSE DK traded up $0.57 during mid-day trading on Monday, reaching $28.47. The company had a trading volume of 1,062,497 shares, compared to its average volume of 1,733,167. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48. Delek US has a 52 week low of $11.02 and a 52 week high of $32.61. The business's 50-day moving average is $24.95 and its 200-day moving average is $19.60. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -2.32 and a beta of 1.09.

Delek US (NYSE:DK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.68 billion. During the same period in the prior year, the business earned ($0.92) EPS. The firm's quarterly revenue was down 16.4% on a year-over-year basis. Equities analysts expect that Delek US will post -5.5 earnings per share for the current year.

Insider Buying and Selling at Delek US

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

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC boosted its holdings in shares of Delek US by 2.2% in the second quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company's stock valued at $492,000 after acquiring an additional 507 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Delek US in the second quarter valued at approximately $1,066,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Delek US by 8.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 11,782 shares of the oil and gas company's stock valued at $250,000 after acquiring an additional 955 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Delek US by 216.8% in the second quarter. Tower Research Capital LLC TRC now owns 13,561 shares of the oil and gas company's stock valued at $287,000 after acquiring an additional 9,280 shares during the period. Finally, Ion Asset Management Ltd. boosted its holdings in shares of Delek US by 1.8% in the second quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company's stock valued at $79,296,000 after acquiring an additional 67,490 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

About Delek US

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.

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