Delek US (NYSE:DK) Price Target Raised to $73.00

Delek US (NYSE:DK) had its price objective upped by The Goldman Sachs Group from $58.00 to $73.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

DK has been the topic of a number of other reports. Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. raised their price objective on shares of Delek US from $57.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. UBS Group lifted their price objective on Delek US from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Mizuho boosted their target price on Delek US from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company increased their target price on Delek US from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Delek US presently has a consensus rating of “Hold” and an average price target of $50.54.

Delek US Stock Performance

NYSE:DK opened at $63.11 on Friday. The firm’s fifty day moving average price is $48.30 and its 200 day moving average price is $41.21. Delek US has a 1-year low of $19.81 and a 1-year high of $64.09. The company has a debt-to-equity ratio of 10.51, a current ratio of 0.76 and a quick ratio of 0.49. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of -69.35, a price-to-earnings-growth ratio of 0.34 and a beta of 0.58.

Delek US (NYSE:DK) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $1.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the firm earned ($2.32) EPS. Delek US’s quarterly revenue was up .4% on a year-over-year basis. On average, sell-side analysts expect that Delek US will post 6.34 EPS for the current year.

Insiders Place Their Bets

In related news, Director William J. Finnerty sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $51.50, for a total value of $257,500.00. Following the completion of the sale, the director owned 34,805 shares in the company, valued at $1,792,457.50. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Reuven Spiegel sold 10,000 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $44.36, for a total transaction of $443,600.00. Following the sale, the executive vice president directly owned 48,372 shares in the company, valued at approximately $2,145,781.92. This represents a 17.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 39,270 shares of company stock worth $1,828,718. Insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

Several institutional investors have recently modified their holdings of DK. Caitong International Asset Management Co. Ltd grew its holdings in shares of Delek US by 95.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 432 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Delek US during the third quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position in Delek US by 173.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 614 shares in the last quarter. Torren Management LLC purchased a new stake in Delek US during the fourth quarter worth $40,000. Finally, Focus Partners Wealth acquired a new stake in Delek US in the third quarter valued at $44,000. Hedge funds and other institutional investors 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.