Delek US (NYSE:DK) Raised to Buy at The Goldman Sachs Group

Delek US (NYSE:DK) was upgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm currently has a $55.00 price target on the oil and gas company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 33.82% from the company’s previous close.

Other analysts also recently issued reports about the stock. TD Cowen upped their price objective on shares of Delek US from $28.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, March 5th. Morgan Stanley decreased their price target on shares of Delek US from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Tuesday, January 27th. Citigroup lowered their price target on Delek US from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, January 26th. Mizuho boosted their price objective on Delek US from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Finally, Wall Street Zen raised Delek US from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.69.

Delek US Stock Performance

Shares of NYSE DK opened at $41.10 on Friday. The business’s 50-day simple moving average is $39.43 and its 200-day simple moving average is $35.84. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.53 and a current ratio of 0.82. Delek US has a 52 week low of $11.58 and a 52 week high of $48.32. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -117.43, a P/E/G ratio of 1.32 and a beta of 0.68.

Delek US (NYSE:DK) last announced its earnings results on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the business earned ($2.54) earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that Delek US will post -5.5 earnings per share for the current fiscal year.

Insider Transactions at Delek US

In other news, Director William J. Finnerty sold 5,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 41,369 shares in the company, valued at approximately $1,882,289.50. This represents a 10.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Reuven Spiegel sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $42.84, for a total transaction of $856,800.00. Following the transaction, the executive vice president directly owned 48,530 shares of the company’s stock, valued at $2,079,025.20. The trade was a 29.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 172,095 shares of company stock worth $7,257,409. 3.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Delek US

A number of institutional investors have recently added to or reduced their stakes in DK. Rockefeller Capital Management L.P. lifted its position in shares of Delek US by 1,327.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,955 shares of the oil and gas company’s stock worth $58,000 after buying an additional 1,818 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Delek US by 350.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,037 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 1,585 shares during the period. Invesco Ltd. lifted its holdings in shares of Delek US by 28.5% during the fourth quarter. Invesco Ltd. now owns 252,108 shares of the oil and gas company’s stock valued at $7,478,000 after acquiring an additional 55,941 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Delek US by 631.7% in the 4th quarter. Mackenzie Financial Corp now owns 54,234 shares of the oil and gas company’s stock valued at $1,619,000 after purchasing an additional 46,822 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of Delek US by 357.6% during the fourth quarter. XTX Topco Ltd now owns 138,495 shares of the oil and gas company’s stock worth $4,108,000 after buying an additional 108,231 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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.