Mizuho Upgrades Delek US (NYSE:DK) to "Outperform"

Delek US (NYSE:DK - Get Free Report) was upgraded by Mizuho from a "neutral" rating to an "outperform" rating in a research report issued on Tuesday, MarketBeat.com reports. The firm currently has a $23.00 price target on the oil and gas company's stock, up from their prior price target of $22.00. Mizuho's target price indicates a potential upside of 21.79% from the company's current price.

A number of other equities analysts have also recently commented on DK. Scotiabank reduced their target price on Delek US from $24.00 to $14.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Raymond James cut their price objective on Delek US from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley dropped their target price on Delek US from $18.00 to $14.00 and set an "underweight" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group decreased their target price on Delek US from $17.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, UBS Group reduced their price objective on shares of Delek US from $21.00 to $13.25 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.02.

Delek US Stock Performance

Shares of DK traded up $0.33 during trading hours on Tuesday, reaching $18.89. 2,026,613 shares of the company traded hands, compared to its average volume of 1,268,649. The stock has a market capitalization of $1.15 billion, a P/E ratio of -3.89 and a beta of 0.74. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18. The business has a fifty day moving average price of $14.44 and a 200-day moving average price of $16.65. Delek US has a 12-month low of $11.03 and a 12-month high of $28.91.

Delek US (NYSE:DK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The oil and gas company reported ($2.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.27) by ($0.05). Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the firm earned ($0.41) earnings per share. The company's revenue for the quarter was down 18.1% on a year-over-year basis. Equities analysts anticipate that Delek US will post -5.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark Wayne Hobbs acquired 2,800 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $13.70 per share, for a total transaction of $38,360.00. Following the completion of the transaction, the chief financial officer now directly owns 49,138 shares in the company, valued at $673,190.60. This represents a 6.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have purchased 5,055 shares of company stock worth $70,787. Company insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DK. T. Rowe Price Investment Management Inc. purchased a new position in Delek US in the first quarter worth $13,728,000. Nuveen LLC bought a new position in Delek US in the 1st quarter worth about $13,629,000. Millennium Management LLC raised 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. Deprince Race & Zollo Inc. purchased a new position in shares of Delek US during the 4th quarter valued at about $13,680,000. Finally, Callodine Capital Management LP grew its holdings in shares of Delek US by 1,827.6% in the first quarter. Callodine Capital Management LP now owns 674,661 shares of the oil and gas company's stock worth $10,167,000 after purchasing an additional 639,661 shares during 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 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.