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Weiss Ratings Reaffirms "Sell (D-)" Rating for Delek US (NYSE:DK)

Delek US logo with Energy background

Key Points

  • Weiss Ratings has reiterated its "Sell (D-)" rating for Delek US (NYSE:DK) in a recent research note, highlighting ongoing concerns regarding the company's performance.
  • Despite the negative outlook from Weiss Ratings, several other analysts have upgraded their ratings and price targets for Delek US, with some projecting a potential upside in their stock price.
  • Delek US reported a quarterly loss with Earnings Per Share (EPS) of ($0.56), which was better than expected but still reflects financial difficulties, with a significant revenue decline of 16.4% year-over-year.
  • MarketBeat previews the top five stocks to own by November 1st.

Delek US (NYSE:DK - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also issued reports on DK. TD Cowen raised Delek US from a "sell" rating to a "hold" rating and upped their target price for the company from $15.00 to $28.00 in a research report on Friday, September 19th. The Goldman Sachs Group increased their price target on Delek US from $25.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, September 15th. Piper Sandler increased their target price on Delek US from $29.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, September 11th. Raymond James Financial increased their price target on Delek US from $26.00 to $33.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. Finally, Citigroup reissued a "neutral" rating and set a $30.00 target price (up previously from $15.00) on shares of Delek US in a research note on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $27.69.

View Our Latest Stock Report on DK

Delek US Stock Up 9.7%

Shares of DK traded up $3.05 during trading hours on Wednesday, hitting $34.58. The company had a trading volume of 1,883,560 shares, compared to its average volume of 2,008,083. The company has a market capitalization of $2.08 billion, a PE ratio of -2.81 and a beta of 1.01. 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 one year low of $11.02 and a one year high of $34.65. The company's fifty day moving average price is $27.70 and its two-hundred day moving average price is $21.61.

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

Insider Buying and Selling at Delek US

In other news, CFO Robert G. Wright sold 7,135 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $29.24, for a total transaction of $208,627.40. Following the completion of the sale, the chief financial officer directly owned 48,294 shares in the company, valued at $1,412,116.56. This represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Delek US

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Delek US by 907.0% during the first quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock worth $63,000 after purchasing an additional 3,746 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Delek US by 3.4% in the 1st quarter. Rhumbline Advisers now owns 121,201 shares of the oil and gas company's stock valued at $1,826,000 after purchasing an additional 4,031 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Delek US by 15.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 36,666 shares of the oil and gas company's stock worth $553,000 after acquiring an additional 4,810 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Delek US by 77.4% during the 1st quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company's stock worth $110,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Net Worth Advisory Group bought a new position in shares of Delek US during the 1st quarter worth about $159,000. Institutional investors and hedge funds own 97.01% of the company's stock.

About Delek US

(Get Free Report)

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.

See Also

Analyst Recommendations for Delek US (NYSE:DK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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