Wells Fargo & Company Raises Delek US (NYSE:DK) Price Target to $34.00

Delek US (NYSE:DKGet Rating) had its target price upped by equities researchers at Wells Fargo & Company from $27.00 to $34.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 38.21% from the stock’s previous close.

A number of other analysts have also recently weighed in on DK. Raymond James raised their price target on Delek US from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday. Credit Suisse Group raised their price objective on Delek US from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, March 14th. Morgan Stanley raised their price objective on Delek US from $19.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday. Bank of America raised Delek US from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $17.00 to $21.00 in a report on Tuesday, March 8th. Finally, StockNews.com started coverage on Delek US in a report on Thursday, March 31st. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.46.

NYSE:DK opened at $24.60 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.94 and a debt-to-equity ratio of 2.24. The stock’s fifty day moving average is $20.22 and its two-hundred day moving average is $18.40. Delek US has a 52 week low of $13.48 and a 52 week high of $26.09. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -8.88 and a beta of 1.89.

Delek US (NYSE:DKGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The oil and gas company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.19. Delek US had a negative return on equity of 23.08% and a negative net margin of 1.91%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the prior year, the firm earned ($2.25) earnings per share. The firm’s revenue was up 65.1% compared to the same quarter last year. On average, sell-side analysts expect that Delek US will post 1.24 EPS for the current fiscal year.

In other Delek US news, Director Delek Us Holdings, Inc. sold 5,463 shares of Delek US stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $41.00, for a total value of $223,983.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 142,299 shares of company stock worth $6,044,803 in the last ninety days. 1.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pinebridge Investments L.P. acquired a new stake in shares of Delek US during the 4th quarter valued at approximately $52,000. Meeder Asset Management Inc. raised its position in shares of Delek US by 32.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,549 shares of the oil and gas company’s stock worth $81,000 after purchasing an additional 1,118 shares during the last quarter. Eagle Bay Advisors LLC raised its position in shares of Delek US by 135.3% during the 3rd quarter. Eagle Bay Advisors LLC now owns 6,000 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 3,450 shares during the last quarter. Point72 Hong Kong Ltd raised its position in shares of Delek US by 14.2% during the 3rd quarter. Point72 Hong Kong Ltd now owns 10,585 shares of the oil and gas company’s stock worth $190,000 after purchasing an additional 1,314 shares during the last quarter. Finally, Versor Investments LP acquired a new position in shares of Delek US during the 3rd quarter worth approximately $201,000. 89.24% of the stock is currently owned by institutional investors.

About Delek US (Get Rating)

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through three segments: Refining, Logistics, and Retail. 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.

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Analyst Recommendations for Delek US (NYSE:DK)

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