TD Cowen Upgrades Delek US (NYSE:DK) to Hold

Delek US (NYSE:DK) was upgraded by investment analysts at TD Cowen from a “sell” rating to a “hold” rating in a research report issued on Friday, Marketbeat.com reports. The brokerage currently has a $28.00 price objective on the oil and gas company’s stock, up from their prior price objective of $15.00. TD Cowen’s price target would suggest a potential downside of 10.74% from the stock’s previous close.

Other analysts have also issued reports about the stock. Cowen reaffirmed a “sell” rating on shares of Delek US in a research note on Friday, August 8th. Wolfe Research raised shares of Delek US from a “peer perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Wednesday, September 3rd. Morgan Stanley increased their price target on shares of Delek US from $15.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, July 16th. Bank of America increased their price target on shares of Delek US from $14.00 to $24.00 and gave the company an “underperform” rating in a research report on Wednesday, September 3rd. Finally, The Goldman Sachs Group increased their price target on shares of Delek US from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.54.

Delek US Stock Down 2.3%

NYSE:DK opened at $31.37 on Friday. Delek US has a 1-year low of $11.02 and a 1-year high of $32.61. The company has a 50-day moving average of $25.54 and a 200 day moving average of $20.09. The firm has a market cap of $1.89 billion, a PE ratio of -2.55 and a beta of 1.09. The company has a debt-to-equity ratio of 10.48, a current ratio of 0.80 and a quick ratio of 0.50.

Delek US (NYSE:DK) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.36. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period in the prior year, the firm earned ($0.92) earnings per share. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. As a group, research analysts anticipate that Delek US will post -5.5 EPS for the current fiscal year.

Insider Activity at Delek US

In related news, CFO Robert G. Wright sold 7,135 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the completion of the transaction, the chief financial officer directly owned 48,294 shares of the company’s stock, valued at $1,412,116.56. This trade represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Delek US

Several hedge funds and other institutional investors have recently bought and sold shares of the business. AMG National Trust Bank increased its holdings in Delek US by 0.4% in the 2nd quarter. AMG National Trust Bank now owns 109,223 shares of the oil and gas company’s stock worth $2,313,000 after buying an additional 472 shares during the period. Orion Porfolio Solutions LLC increased its holdings in Delek US by 2.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company’s stock worth $492,000 after buying an additional 507 shares during the period. Police & Firemen s Retirement System of New Jersey increased its holdings in Delek US by 5.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 13,546 shares of the oil and gas company’s stock worth $287,000 after buying an additional 686 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in Delek US by 8.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 11,782 shares of the oil and gas company’s stock worth $250,000 after buying an additional 955 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Delek US by 3.0% in the 2nd quarter. International Assets Investment Management LLC now owns 35,186 shares of the oil and gas company’s stock worth $745,000 after buying an additional 1,029 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.