Delek US (NYSE:DK) Price Target Raised to $54.00

Delek US (NYSE:DK) had its price objective hoisted by Raymond James Financial from $47.00 to $54.00 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

DK has been the subject of several other research reports. Morgan Stanley decreased their target price on shares of Delek US from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 27th. TD Cowen increased their price objective on Delek US from $28.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, March 5th. Piper Sandler lowered their target price on Delek US from $47.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Scotiabank set a $34.00 price target on Delek US in a research report on Friday, January 16th. Finally, JPMorgan Chase & Co. decreased their price target on Delek US from $42.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, January 15th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $41.00.

Delek US Stock Performance

Shares of NYSE DK opened at $47.44 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.82 and a debt-to-equity ratio of 5.89. The firm’s 50-day moving average price is $36.49 and its two-hundred day moving average price is $34.96. Delek US has a 52-week low of $11.02 and a 52-week high of $48.32. The stock has a market capitalization of $2.84 billion, a P/E ratio of -135.55, a P/E/G ratio of 1.44 and a beta of 0.75.

Delek US (NYSE:DK) last announced its quarterly earnings results on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.63. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the business posted ($2.54) EPS. The business’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side 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, March 9th. Shareholders of record on Monday, March 2nd were given a $0.255 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.02 annualized dividend and a yield of 2.2%. Delek US’s payout ratio is -291.43%.

Insider Buying and Selling

In other Delek US news, Director William J. Finnerty sold 5,000 shares of Delek US stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $45.50, for a total value of $227,500.00. Following the transaction, the director owned 41,369 shares in the company, valued at approximately $1,882,289.50. The trade was a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Shlomo Zohar sold 7,343 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $46.00, for a total value of $337,778.00. Following the completion of the transaction, the director directly owned 6,646 shares in the company, valued at $305,716. This represents a 52.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 172,095 shares of company stock worth $7,257,409 in the last ninety days. Insiders own 3.56% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of hedge funds and other institutional investors have recently modified their holdings of DK. Vanguard Group Inc. lifted its stake in Delek US by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after buying an additional 38,577 shares in the last quarter. Ion Asset Management Ltd. increased its position 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 worth $79,296,000 after acquiring an additional 67,490 shares in the last quarter. State Street Corp raised its holdings in shares of Delek US by 3.4% during the fourth quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock valued at $78,286,000 after acquiring an additional 87,846 shares during the period. Morgan Stanley lifted its position in shares of Delek US by 24.7% in the 4th quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company’s stock valued at $60,300,000 after acquiring an additional 403,059 shares in the last quarter. Finally, Barclays PLC boosted its stake in Delek US by 29.4% in the 3rd quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock worth $60,460,000 after purchasing an additional 425,896 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

About Delek US

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.