Wells Fargo & Company Cuts Delek US (NYSE:DK) Price Target to $11.00

Delek US (NYSE:DK - Get Free Report) had its target price cut by equities researchers at Wells Fargo & Company from $16.00 to $11.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the oil and gas company's stock. Wells Fargo & Company's price objective points to a potential downside of 12.63% from the company's previous close.

Other analysts have also issued research reports about the stock. Wolfe Research raised shares of Delek US from an "underperform" rating to a "peer perform" rating in a report on Friday, January 3rd. UBS Group reduced their target price on Delek US from $21.00 to $13.25 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Scotiabank lowered their price target on Delek US from $24.00 to $14.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Piper Sandler dropped their target price on shares of Delek US from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Raymond James lowered their price objective on shares of Delek US from $24.00 to $23.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.48.

Delek US Stock Performance

Shares of DK stock traded down $0.30 during trading on Wednesday, reaching $12.59. 294,271 shares of the company's stock traded hands, compared to its average volume of 1,482,073. Delek US has a 1 year low of $11.02 and a 1 year high of $30.13. The company has a market capitalization of $787.04 million, a P/E ratio of -2.59 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 0.67 and a debt-to-equity ratio of 3.18. The firm's 50-day moving average is $15.06 and its 200 day moving average is $17.09.

Delek US (NYSE:DK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) EPS for the quarter, missing analysts' consensus estimates of ($1.53) by ($1.01). The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.58 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. Delek US's revenue was down 39.8% on a year-over-year basis. During the same period in the previous year, the business earned ($1.46) earnings per share. Equities research analysts expect that Delek US will post -5.5 EPS for the current year.

Insider Transactions at Delek US

In related news, CFO Mark Wayne Hobbs acquired 2,800 shares of the stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $38,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 49,138 shares of the company's stock, valued at approximately $673,190.60. This represents a 6.04 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have acquired 5,055 shares of company stock worth $70,787. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Delek US

Hedge funds have recently made changes to their positions in the company. Ion Asset Management Ltd. grew its position in shares of Delek US by 16.5% in the 4th quarter. Ion Asset Management Ltd. now owns 3,455,000 shares of the oil and gas company's stock worth $63,918,000 after buying an additional 488,509 shares during the period. State Street Corp increased its stake in shares of Delek US by 8.0% during the third quarter. State Street Corp now owns 3,019,307 shares of the oil and gas company's stock valued at $56,612,000 after purchasing an additional 223,110 shares in the last quarter. Barclays PLC lifted its holdings in shares of Delek US by 23.1% during the fourth quarter. Barclays PLC now owns 1,842,035 shares of the oil and gas company's stock valued at $34,078,000 after purchasing an additional 345,210 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Delek US by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,459,301 shares of the oil and gas company's stock worth $27,368,000 after buying an additional 63,502 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in Delek US by 21.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,005,309 shares of the oil and gas company's stock valued at $18,598,000 after buying an additional 180,498 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

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.